Gordon T. Long – Subprime Auto Bubble Is Popping

by Kerry Lutz, Financial Survival Network As usual the numbers don’t lie. Gordon T. Long and I predicted over a year ago that the Great News coming out of Detroit was more about easy credit than about solid fundamentals. Fast forward a year and now the truth is beginning to become obvious. Auto leasing is way up and the supply of cars about to come off-lease is going sky high, thus driving used and new car prices down. Around the globe auto makers are going to take a major hit. From China, to Germany, to Mexico, to the good old USofA, the story is the same. Markets artificially goosed up by easy credit. But the day of reckoning is getting closer. AUDIO MP3 INTERVIEW HERE>>>

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