Amy Nixon: ‘As far as subprime loans go, these are the worst possible imaginable ones for banks. What’s the collateral? At least in 2008 they could foreclose on something’

How about that “strong” retail sales data… pic.twitter.com/kzrjb4ZvdI

— Amy Nixon (@texasrunnerDFW) December 14, 2023

I mean, what are they going to do?

Repossess the empty bag of Doritos you ate months ago?

As far as subprime loans go, these are the worst possible imaginable ones for banks. What’s the collateral?

At least in 2008 they could foreclose on something

— Amy Nixon (@texasrunnerDFW) December 14, 2023

🚨DEVELOPING🚨

Adobe has said that “buy now, pay later” hit an all time high of $940 million on cyber Monday.

This is up 42% YoY.

This can’t be good.

— Grit Capital (@Grit_Capital) November 28, 2023

😬“This Isn’t 2008. This Is Far More Dangerous.”

Let's start with four, simple words…
“Buy Now, Pay Later”

It’s not just a new payment method increasingly relied on by U.S. consumers. It’s also a worrisome trend with dire consequences.
Payment plans were once reserved for… pic.twitter.com/dSneTZULyR

— Hedgeye (@Hedgeye) December 10, 2023

Retail -30,000 workers.

Heading into the holiday season, retail lost 38,000 jobs, half of which came from department stores. Transportation and warehousing also showed a decline of 5,000.