Credit Markets Just Hit an Ominous Crisis Era Record

 |  Wednesday, 16 August 2017 10:30  |  Published in Economy
Credit Markets Just Hit an Ominous Crisis Era Record
(New York) We have been covering the development of the subprime auto loan market for a while now as it has eerie echoes of the buildup in mortgage debt prior to the Crisis. Well, the market has just hit another ominous record—delinquency rates on so-called “deep subprime” loans have just matched the level they hit in 2007, according to Equifax. Lending standards have continually fallen in recent years leading to very poor performance in recent loans. OxWFD: The good news here is that this sector is much smaller than the mortgage market, so when it blows up it will likely…

Why the Gas Station Model Will Die

 |  Tuesday, 15 August 2017 10:14  |  Published in Economy
Why the Gas Station Model Will Die
(San Francisco) One of the world’s most mundane and commonplace features, a bastion of modern transport infrastructure, shall cease to exist in the reasonably near future. Electric cars, which many see as the future, will require a different model for refueling. In particular, they will be charged not at stations, but in parking lots, ultimately eliminating the need for gas stations. The only ones that will eventually be needed will be along highways, where distances traveled will exceed single charge ranges for electric cars. However, getting to this reality will be a challenge, as a century of infrastructure development has…

Pensions Had a Banner Year and are Still in a Hole

 |  Thursday, 10 August 2017 09:18  |  Published in Economy
Pensions Had a Banner Year and are Still in a Hole
(New York) In one sense those worrying for US pensions can breathe a tiny sigh of relief, but on the other, the fear of a pensions apocalypse grows. Pensions had their best year in a while, with results for the fiscal year ended June 30 seeing 12.4% returns. However, the yawning deficit keeps growing and is currently estimated at between $1.6 and $4 tn. “It’s a hole that took a long time to dig, so it will take a long time to fill”, says Fitch Ratings. Despite the good gains, many pensions are pushing down their expectations for returns, which…

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