HOLLYWOOD – John Oliver is a propagandist posing as a comedian. And while we’re not fans of most of his political opinions, the funny fake anchorman occasionally gets it right.
This time, he’s calling out a potential threat to our economy, and he’s not alone.
While many Americans are feeling a sense of calm and optimism as the financial world responds to the presidential election, and the job saving moves of President-elect Trump, many more don’t expect the current threats to the world economy to go away overnight. One good example of a serious view of the world comes from John Rubino, the editor of Dollar Collapse.com.
Rubino is not a comedian trying to dress up his political propaganda in humor. Instead, he is a serious prognosticator that chronicles the financial world. He is a data-driven writer who watched the worldwide financial crisis grow for years and says now is not the time to relax.
“A lot of little mini bubbles are starting to burst, which I think you know 2017 was already going to be really interesting, but it is going to be even more interesting because sectors of the economy that were not full-fledged 2006 sub-prime mortgage level bubbles, but they were still bubbling, are starting to leak,” he said in a recent interview with Peak Prosperity’s Chris Martenson.
On his own site, Rubino explains how three mini-bubbles currently threaten the economy: homes sales, auto sales and China.
That said, even a comedian posing as a fake news anchor can get it right. Recently, Oliver ran a piece regarding the serious subject of dangerous money-lending policies running rampant today. Granted, the story focuses on car loans, which are obviously smaller than major home loans, placing this subject squarely in the realm of mini economic bubbles, but don’t discount the fact that he exposes a recurring attitude towards lending by the financial institutions that caused the housing crisis and the “Great Recession” of 2008. Specifically, he exposes incredibly irresponsible actions taken by the financial industry when it comes these auto loans.
Bottom line, when one bubble bursts, others are likely to follow. If the lenders go too far and too many bad loans fail, it could spark a crisis.
This is one of the many reasons why we prepare.
(Editor’s Note: While there is some serious news and accurate reporting here, this video also contains adult-themed humor, this is not appropriate for children.)