If it were the Clinton Administration in power right now, either Bill or Hitlery, probably the FR threads would seethe and bubble over with widespread agreement over the premise of this foreboding article.
However with a Republican (some would say a "RINO" but that is a different thread!) firmly at the White House helm, you see a preponderance here of dismissing this kind of projection and prediction.
I can tell you from independently watching things here in Japan, watching the USA, Brit and Asian markets, taking temperatures everywhere, and talking with tons of people, this is an extremely serious global situation the likes we have not seen in many of our lifetimes.
I for one am not particularly optimistic about things right now. We had heard the warnings about such things as these Too-Good-To-Be-True "No Interest Loans" and other packages and products. It is all about the sub-prime borrowers, not a few of them illegal aliens, itinerant, untrustworthy, irresponsible, illiterate and the like, simplistically thinking they could base their payback ability on ever rising domestic U.S. real estate values. Freely and of their own volition, ignorance, greed or whatever they went out on a limb (again, their foolishness) and the mortgage companies and shady financial organizations also going out on a limb (again, their foolishness, too).
Wait till the other shoe drops. It AIN'T going to be pretty. Democrat or Republican in the White House. No difference!!
There have never been “No Interest Loans.”