The Effect The Current Subprime Loan Crisis Has On Global Markets.
“Why is it, that this subprime loan crisis has such a rippling effect on many sectors of the economy?”
“Why are even companies outside the USA also affected by the U.S. mortgage crisis?”
In the last 7 days I received lots of emails from my subscribers asking me questions like these, and I’d like to take the opportunity to explain what this housing, mortgage,subprime loan, credit crisis – whatever you want to call it – and the present situation is all about.
Between 2002 and 2004 the interest rates in the United States were as low as never before. At least as far as I can remember. I’m not that old yet! The effect of such low interest rates was a real-estate boom in the U.S. often financed with so-called subprime loans. These are loans given to borrowers who do not qualify for the best market interest rates because of their deficient credit history.
Subprime lending encompasses a variety of credit instruments, including subprime mortgages, subprime car loans, and subprime credit cards, among others. The term “subprime”...
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