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Skol

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18/07/17

08:20

Post #: 25920051
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Originally posted by Crom Valen ↑

I got to this article about the developing subprime crisis in auto loans before Skol did, as he is now posting articles high-lighting the bad news coming out of the US economy -

https://www.bloomberg.com/news/arti...-boom-same-old-sins-auto-defaults-are-soaring

New U.S. Subprime Boom, Same Old Sins: Auto Defaults Are Soaring

By
**rielle Coppola
‎17‎ ‎July‎ ‎2017‎ ‎9‎:‎00‎ ‎PM

It’s classic subprime: hasty loans, rapid defaults, and, at times, outright fraud.
Only this isn’t the U.S. housing market circa 2007. It’s the U.S. auto industry circa 2017.
A decade after the mortgage debacle, the financial industry has embraced another type of subprime debt: auto loans. And, like last time, the risks are spreading as they’re bundled into securities for investors worldwide.

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Online sales - the reason retail sales are down.
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