Record 7 million are 3 months behind on their car payments

Discussion in 'Economics' started by jeb9999, Feb 13, 2019.

  1. S2007S


    Debt is still debt no matter which way you look at it.....debt debt debt.....all I'm looking at it the word debt....the US is $22 trillion in debt.. Which means debt to gdp right now is over 100%!!!!

    Nothing to see here... Move along...
    #21     Feb 13, 2019
  2. S2007S


    And that will never ever change....with all those self help books written about how to take control of your money and retire early...forget those...consumers consume...we are taught to consume... the US gdp is over 2/3 of consumer spending. Without the consumer going over and beyond tbeir limitations the economy crumbles.
    #22     Feb 13, 2019
  3. tiddlywinks


    Maybe that's why you've "predicted" 4 of the last one recessions!

    Yea, and Russia is 15% and Japan is over 200%. How's that working?

    Meanwhile, the USD is the worlds reserve currency, and sovereigns and others are very willing to accept the current market-driven interest rate(s) for lending. At some point, that will change... people and lenders will lose confidence in the US government, but that ain't today. Personally, I'll revisit when Effective Fed Funds Rate is nearer to 3%. That ain't today either.
    #23     Feb 13, 2019
  4. HanSolo


    Don't worry it's nothing a little money printing and quantitative easing can't fix and look unemployment is at records lows. Nothing to see here business as usual o_O
    #24     Feb 13, 2019
  5. Alexpung


    Lending money to those who can't afford the payment, big surprise?
    #25     Feb 13, 2019
  6. destriero


    It's 3% of the >21 population. 3% OF ALL ADULTS are >90 days late on their car payments.
    #26     Feb 13, 2019
  7. It is what is going to happen from next month. You did not know that the trend changes around this time every year??
    #27     Feb 13, 2019
  8. tiddlywinks


    Seems hinky since driving age in many states is 16. And 18 is considered an adult in many states. Adults >= 18 get auto loans, students get auto loans, and co-signers don't matter until it's too late.

    But really, I don't care... With a total population of 328 million, with about 75%, or 246 million => 21, the 3% is just over 7 million. Unbelievably, and what's most important anyway, is that the article is in agreement with Dest!!!
    #28     Feb 14, 2019
  9. I've never observed that.
    #29     Feb 14, 2019
  10. People seem to not understand... "All debt gets accounted for (eventually)... by somebody". IOW....America has $22T in debt that is eventually going to be "settled" one way or another. Can we afford to "pay it off"? No. So, then what?
    #30     Feb 14, 2019