Editor: Vladimir Bajic | Tactical Investor
The following article makes for a compelling read and so I thought I would highlight an excerpt of this article before getting to the story at hand:
” Greed and recklessness continue to govern the markets; nothing was learned from the 2008 financial crisis. Hence, history is destined to repeat itself and this might occur a lot faster than most anticipate. Fitch states that Subprime Auto bond delinquencies are at a 20 year high. The number of individuals who are more than 60 days late on their auto payments surged 11.6% year over year; this brings the current delinquency rate to 5.16%. During the financial crisis of 2008, the delinquency rate peaked off at 5.04% according to fitch. “ Next subprime Crisis: Auto Bond delinquencies
This Video Illustrates that the new chip and Pin system is highly vulnerable and because banks deem it to be full proof, so those whose accounts are compromised will have no recourse.