Just an obvious question...if the union gets a 10-percent rise in wages, and the $45,000 car goes up to $50,000....can the general consumer afford the car?
I used to think car loans would max out to 48 months, and noted that the trend then went to 60 months, and in the last year...noted the next trend as being 72 months, and a few even willing to budget for 84 months (7 years).
This past summer, I noted the repossession rate nearing 20-percent. So my logical question is...what will a bank do with 3-year old car that they repossess...which marginally holds 50-percent of the original value? If you were asking for a dozen problems to relate to 1929, and the 1930s...isn’t this an example of how bank failures will start to occur?
Although honestly im wondering why the economy hasn’t crashed already.
People were talking about bubbles, depression etc 2 years ago. Matter of fact videos like this were the rage a year ago:
“Why the economy is headed for a new depression”
https://www.youtube.com/watch?v=Hj-QVlzjrTc
Or this one only from this summer:
‘THIS Will Push the US Economy into a Major Recession By September 2023”
https://www.youtube.com/watch?v=HZ_jXASh-mg
We still have $2T in the pipeline from Biden’s IRA and CHIPS act 2022.
Ho thrill with Lucifer ends .. Can’t run to daddy fig leaf. So let’s get defiant, and drum up a war. How about a war. The War.
BidenDepression 2023 / Spring, 2024
We have millions of Biden era invaders who will be given drivers licenses and will need to buy vehicles.