Car Repos on the Rise

[shogun32]

Within the next couple of decades this might be the catalyst for the next crisis

nah, this is a 10 year horizon problem. Maybe even closer.

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[Jimmy Dean]

nah, this is a 10 year horizon problem. Maybe even closer.

much closer. with the way the big 4 are ramping up. much closer. 2 years or less. maybe the idiot in charge can withhold catastrophe for that long, then a change in leadership (hopefully a particular florida gov) will put them all back onto their heals again. I am not sure that many understand the shear amount of money coming from china and russia into our economy that is fucking us over. not to mention stateside companies that are also fucking us over. and the gov shitty ass policies (a certain overweight president is not excluded from bad fiscal policies his last year). We're in for some heartburn for a while.

I put the big 4 as Russia, China, Iran, NK. not that 2.5 of them can spend a whole heckuva lot. But their posturing can make us spend a crap ton of money as a country in defense funding to various ME countries, SK, Ukraine is the big one right now. How much funding to Ukraine if not printed, or given to the American populace would displace the hurt of current inflation? It is about 1.5k per family so far, which given to us would not be a lot, but not being printed and securing the confidence in the USD would've been a much larger boon to poor families.

Of course, that last sentence gets into the validity, or morality of supporting ukraine. a harder stance would've prevented the entire issue in the first place without having to spend the money. But ukraine is also not some small innocent country being attacked by a much larger country. They are a corrupt as shit country being attacked by another corrupt as shit country, where we need the second country to be an enemy to validate vast expenditures and payoffs.

 

[Biggus Dickus]

IBTL

 

[Mspider]

nah, this is a 10 year horizon problem. Maybe even closer.

The point being that is not a main driver for inflation or interest rates today. Its something that just started to happen over the last decade.

 

[Cordero1]

The bigger signs we will see as a notice to us will come from keeping an eye on B.R.I.C.S. I been seeing sings from them slowly moving to a precious backed form of monies. If an organization that big with that many big countries were to do it all at the same time it would be devastating to our currency. Their big weak link is Chy-nah right now with their state of their economy. But if they were to get off that zero tollarence covid policy & climb back up to where they were we'd be in trouble. That is one of the reasons imo that they are so desperate to invade Taiwan. We shall see how the chess moves keep moving out. In the mean time I will keep buying silver when I can just in case. Can't have all your eggs in one basket.

 

[shogun32]

Man and here I was buying mustangs as an inflationary hedge. There's silver in the car somewhere right?

 

[sk47]

The point being that is not a main driver for inflation or interest rates today. Its something that just started to happen over the last decade.

Hello; Thing is inflation has been happening for decades. Back in 1970 a brand new Camaro Z-28 was $4000. Before the first OPEC oil problem gas was under 50 cents/gal. Inflation has been steadily increasing over time. Decades of time. It just so happened in the last two or three years governments went on a money printing spree. Pandemic being an excuse to blow money. Dump tons of cash with lose control so lot of fraud.
This particular spike of spending was added to with even more trillions of spending (read credit card borrowing/printing of money out of thin air) with the new group in power.

 

[wynand32]

Here are some charts showing the money supply going back a few decades. The first is in absolute dollars, the second is in percent change over the previous year. No matter how you slice it, this is unprecedented, although it should also be taken with a grain of salt. This stuff is complicated and to fully understand/explain it takes some serious research (which I haven't done yet).

 

[ay1820]

Here are some charts showing the money supply going back a few decades. The first is in absolute dollars, the second is in percent change over the previous year. No matter how you slice it, this is unprecedented, although it should also be taken with a grain of salt. This stuff is complicated and to fully understand/explain it takes some serious research (which I haven't done yet).

That's an interesting way to look at it (year over year).

We have a tendency to look at things on very short time horizon, and there is no question that a big spike like that will have dramatic short term impacts. What we do not understand (and may not have the tools to properly allow us to understand) is what the long term impact will be.

There is a possibility that this shock could lead to a catastrophic global economic meltdown, but if that's going to happen, there is nothing we can do to stop it (the spike already happened, we can't go back and undo it). There is also a very real possibility that had we not introduced that spike, the pandemic itself could have lead to a catastrophic global economic meltdown. There is no way to know what would have happened had we (and the rest of the world) not dumped massive amounts of money into the system. We are where we are and we need to marshal on.

I do expect some hard times in the next few years, but I also believe that there is a more resiliency to the global economies than we think. Cultures and societies resist change and history tells us that the day to day living will likely go on more or less as it has (maybe with fewer luxuries). There have been exceptions and maybe this will turn into one. But baring Putin dropping a nuke or some other a new major pandemic or some other global event, my money is (literally) bet on the likelihood that this will be just another transient that we will weather and life will go on.

 

[wynand32]

That's an interesting way to look at it (year over year).

We have a tendency to look at things on very short time horizon, and there is no question that a big spike like that will have dramatic short term impacts. What we do not understand (and may not have the tools to properly allow us to understand) is what the long term impact will be.

There is a possibility that this shock could lead to a catastrophic global economic meltdown, but if that's going to happen, there is nothing we can do to stop it (the spike already happened, we can't go back and undo it). There is also a very real possibility that had we not introduced that spike, the pandemic itself could have lead to a catastrophic global economic meltdown. There is no way to know what would have happened had we (and the rest of the world) not dumped massive amounts of money into the system. We are where we are and we need to marshal on.

I do expect some hard times in the next few years, but I also believe that there is a more resiliency to the global economies than we think. Cultures and societies resist change and history tells us that the day to day living will likely go on more or less as it has (maybe with fewer luxuries). There have been exceptions and maybe this will turn into one. But baring Putin dropping a nuke or some other a new major pandemic or some other global event, my money is (literally) bet on the likelihood that this will be just another transient that we will weather and life will go on.

I don't disagree with you, particularly the point about the COVID response. The problem is what's happened since, in terms of the spending that's not been COVID-related but I believe leveraged the pandemic politically. The whole "don't let a good crisis go to waste" mentality.

 

[ay1820]

I don't disagree with you, particularly the point about the COVID response. The problem is what's happened since, in terms of the spending that's not been COVID-related but I believe leveraged the pandemic politically. The whole "don't let a good crisis go to waste" mentality.

You are right that there was one too many Covid money drops. But don't forget that both "candidates" were advocating for that running up to the election. Everyone was trying to "buy" the vote.

I have no problem in concept with the infrastructure spending program, we do desperately need that. But there is bunch of fat in there that does not belong. Of course, that is the time honored way to get anything bipartisan done in Washington and in truth is probably the only way to actually move forward.

I am not in favor of student loan forgiveness. I do think that there is a generation that does need some sort of helping hand given the debt burden they are facing (that will cause a severe drag on the economy in and of itself) but outright forgiveness is not the answer. I am more in favor of some sort of program where you can work down the debt by agreeing to some sort of public service sector job. There are a few programs like that I have heard of, but don't have details at my fingertips.

We have been digging ourselves deeper into this hole for the last several decades with help from both sides of the "aisle". It is time for our government to actually govern and not just worry about how to win the next election. In short, we need term limits on ALL elected positions.

I hope I haven't crossed the line with this post, I am not trying to preach politics because I really don't think either party has the answers or has the fortitude to do what is necessary.

 

[wynand32]

You are right that there was one too many Covid money drops. But don't forget that both "candidates" were advocating for that running up to the election. Everyone was trying to "buy" the vote.

I have no problem in concept with the infrastructure spending program, we do desperately need that. But there is bunch of fat in there that does not belong. Of course, that is the time honored way to get anything bipartisan done in Washington and in truth is probably the only way to actually move forward.

I am not in favor of student loan forgiveness. I do think that there is a generation that does need some sort of helping hand given the debt burden they are facing. That will cause a severe drag on the economy in and of itself, but outright forgiveness is not the answer. I am more in favor of some sort of program where you can work down the debt by agreeing to some sort of public service sector job. There are a few programs like that I have heard of, but don't have details at my fingertips.

We have been digging ourselves deeper into this hole for the last several decades with help from both sides of the "aisle". It is time for our government to actually govern and not just worry about how to win the next election. In short, we need term limits on ALL elected positions.

I hope I haven't crossed the line with this post, I am not trying to preach politics because I really don't think either party has the answers, or has the fortitude to do what is necessary.

Agreed, it's not a partisan issue. I'd put it a little more pointedly -- both sides are terrible.

 

[RagmopInKona]

Here are some charts showing the money supply going back a few decades. The first is in absolute dollars, the second is in percent change over the previous year. No matter how you slice it, this is unprecedented, although it should also be taken with a grain of salt. This stuff is complicated and to fully understand/explain it takes some serious research (which I haven't done yet).

Problem is everyone has an agenda. And skewing data is as easy as forgetting to add part of the data to the formula.
The mess of the last year or so. was a build up of a lot of things. Fuel cost being a big one as if affects everything from the production cost to shipping, to retail. Covid did not help, but the state that much of the imports pass through, passing a law banning thousands of rigs from operation in the state, causing a back log of shipments getting out of the ports. did no one favors. Putting in place a leadership hell bent on stopping drilling and pipelines, only added to the mess. Then the russia mess.
Interest rate hikes are not going to slow inflation. not this time. shipping cost and fuel is the driver in this inflation mess. Till that drops, it will not matter what the fed does. as the cost to get it to the end user is double from a year ago. and the cost of electric/heat/ac in the retail store be it food, or whatever is causing the price jumps.
When the electric utilities are telling customers expect a 65-80% hike in the bill. A grosser jaw just dropped to the floor.
The worst part of all this is we haven't even begun to see the worst of it. As it is a sure thing that once the Market stock prices start to drop with no sign of an end to the free fall, the market yoyo's move to crude futures, and when they do that, fuel prices go up and we can't afford to have that happen in this economy, but those on wall street will not care, and Off we go. Grab your ankles and hold on, it's going to be a very bumpy ride with no lube.
Joey and the yoyo's in the fed. have zero clue. unless trashing the economy is the plan. And I'll leave my thoughts there.

 

[AvalancheSVT]

unless trashing the economy is the plan. And I'll leave my thoughts there.

that is exactly the point.

ruin everything with government
convince idiots more government can fix the problem it created
repeat until desired power goals are achieved
fight bloody war where commies lose
have liberty for a while
start over once idiots (who were killed off during the tyranny and revolution) repopulate.

classic marxism

 

[SIC1SIX]

The car market and the housing market is a repeat of the 2006 debacles....

Wait for it to come crashing down...

Who will we bail out next is the next question...

Nobody.. the country is broke and the dollar is worthless

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