sub-PRIME CUT

Larry Butterworth

San Diego, United States

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keywords for this image:cash flow, empire state, financial, foreclosures, loans, pigs, ponzi scheme, pyramid, subprime, wall street, barry madoff, goldman sachs ,gambling, economy, real estate foreclosure, defaults, piggy bank, j p morgan

As loans default and foreclosures increase, the lenders have to pay out more and more to hide the losses. But the lenders can only make this up by making more loans, because this is how they increase their cash flow; and now it is clear they can make nore loans, and thereby increase their cash flow only by simultaneously increasing their losses, since their “loans” are proving to be losers. So no one wants their"paper" anymore because-well-it’s the financial equivalent of toxic waste. The “subprime” stuff is just the first surge: the tidal wave is close behind. Because all of it, the subprime, the prime, the AAA and everything in between, is the product of a previously hidden, but now obvious…Ponzi scheme. A Ponzi scheme that is in the process of unraveling, as all Ponzi schemes eventually do. And what person wants to be the last idiot to buy into a Ponzi scheme?

From: What the ‘Subprime’ Mess is Really About by John Regan Jr.

Artwork Comments

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