Quote:
Originally Posted by jamesqf
Seems like there's a lot of chicken & egg going on here. People don't have the cash available since they can't save anything because they're stuck with car payments.
So we had the subprime housing market crash, recovered from that, now we can look forward to the subprime auto loan crash. Really, sometimes I don't know whether to laugh, cry, run down the road screaming, or find an isolated cabin in the wilderness and wait for the bang.
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The car loan thing is huge. A crash would affect whole economy.
This is not a country where having a car is optional. Not for individuals or too many financial/industrial balance sheets to count.
There's good reason the automakers (like the oil producers) are not allowed to fail.
Disconnect people from a house, they'll start over. Disconnect them from cars and all bets are off.
Someday, the party will be over. Until then, keep kicking the problem down the road.
System strain.
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