Another frightening manifestation is that in the USA, car dealers are offering zero deposit, zero security loans for new vehicles. This applies to cars made in the USA as well as imports.
Did the banks learn nothing from the US housing meltdown? They have simply switched into a different market to sell credit. The bonus system of renumeration for bankers remains alive and well. However, this time they are providing credit for cars instead of houses.
Although the car manufacturers will get the benefit of demand, consumers are purchasing assets that depreciate as soon as they leave the shown room. Doesn't this sound similar to the real-estate bubble that burst and left the lenders with bad debts that required the public to bale them out?