Subprime Auto: The Truth Is Out There

Red and blue is the new black and white, but the country could use a lot more purple. Seems few can take a position publicly these days unless it's extreme – whether it's a political debate or the meaning of the New York Fed's recent Quarterly Report on Household Debt and Credit showing an uptick in subprime auto delinquency. Intelligence includes the ability to see the other side's point of view. The truth is out there – and it can be found in the gray area between the absolutists.

There Are Reasons to Stay the Course

For some, the latest Fed report is about as jarring as a worn out speed bump. This view reminds me of the old saying that a second marriage is the triumph of hope over experience. In a new spin on that adage, not seeing the dangers could be seen as the triumph of experience above all other considerations.