Repo crisis spreads nationwide, car loan delinquencies surge. The consumer is DEAD. The McDonald’s CEO is warning of a pullback in spending from low income diners

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The economy is booming, if you are the tow truck driver.

00:00 Car Repos Explode to New Highs
07:17 Use Vehicle Sales Just Crashed By 25%
08:58 Real Life Viewer Inflation Story
11:55 Why the Dollar is Worthless Today
17:54 There’s No Way Out of the Mess The FED Created

 

Subprime car buyers are hitting the skids, falling behind on payments faster than we’ve seen in 30 years—a red flag for an economy that’s starting to look shakier by the day. Once the last bill people would ditch, auto loans are now right up there with mortgages and maxed-out credit cards in the “financial doom” category.

Numbers from Fitch Ratings paint a bleak picture: 6.43% of folks with credit scores in the gutter are two months late on their ride payments. That’s double the 2021 mess and worse than what we saw during the last few recessions. Repo men are busier than they’ve been since ’08, snatching wheels from folks barely making ends meet.

https://finance.yahoo.com/news/car-loan-delinquencies-hit-crisis-170000658.html

https://ycharts.com/indicators/us_credit_card_accounts_late_by_90_days