Who knew that selling McDonald's employees a 45K SUV on 8 yr lease wouldn't work? Car bubble as bad or worse than 2008 housing bubble.
Record car sales had NOTHING to do with a "Booming Economy" and everything to do with lending people money who have no ability to repay it.
https://www.cbsnews.com/news/car-loan-delinquencies-record-7-million-americans-behind-on-car-loan-payments-red-report-says/
Time to gut the economy again.... shut the lights until 2024
Making GM great , one executive at a time!
And now you will see a bunch more people delinquent on their mortgages too from here to the Ohio valley ! Making America Great Again ! Bravo 👏
Regional Banking ETF Tanking with BIG RED CANDLES
https://stockcharts.com/h-sc/ui?s=kre
Even the mortgage loan crisis is getting bad again.
After 2008, banks tightened lending standards so they wouldn't have to repossess houses from d---beats.
Then they realized they were writing way fewer loans, and started giving money to people with 300 FICO scores again.
Greed always overcomes common sense.
If there's a recession, expect the housing and banking industries to collapse again as people walk away from houses worth half what their loan is for.