MSM propagandists urge Americans to take out seven-year loans to buy corporate stocks and ignore subprime loan bubble

Friday, March 27, 2015
By Paul Martin

by: J. D. Heyes
NaturalNews.com
Friday, March 27, 2015

Propagandists for the mainstream media (MSM) will do anything and say anything to keep up the facade that the U.S. economy is completely healthy and moving apace rather swimmingly, especially if it means advertisers will continue to plunk down big bucks with them.

As noted by Tyler Durden at ZeroHedge.com, CNBC recently dedicated three entire segments to subprime auto lending, “producing, in the process, three of the most hilarious clips in recent memory.”

Durden noted that “expert” Phil Lebeau discussed the latest numbers from credit score company Experian, which purported to show that average monthly payments for automobiles reached a record high in the fourth quarter of 2014, coming in at almost $500. Also, Lebeau talked about Experian figures showing that the average amount of a car loan has increased 4 percent year-to-year, to around $24,000.

“It gets worse,” Durden noted. “Fully a quarter of new car loans carry terms of at least 73 months,” meaning 25 percent of new loans are being stretched out for more than six years (far beyond a time when the average car retains its loaned value).

The Rest…HERE

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