Friday, September 09, 2016

The $Trillion$ 
U.S. Auto Bubble Is Bursting
Michael Snyder highlights the bursting: "Delinquency rates are up by double digit percentages, and major auto lenders are bracing for hundreds of millions of dollars of losses. We are a nation that is absolutely drowning in debt .. The size of this market is larger than you may imagine. Earlier this year, the auto loan bubble surpassed the one trillion dollar mark for the first time ever… We have a huge crisis on our hands, and major auto lenders are setting aside massive amounts of cash in order to try to cover these losses .. We are living in the greatest debt bubble in world history, and there are signs that this giant bubble is now starting to burst. And when it does, the pain is going to be greater than most people would dare to imagine."
LINK HERE to the commentary

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