Car Repos Are Exploding. That’s a Bad Omen.

[Harpy Eagle]

Trump's spending after the pandemic was a necessity. Biden said he was going to end COVID, but massively outspent Trump. The only thing that stopped him were two opposing Democrats.

And this is why we have runaway inflation and 31 trillion dollars in debt, each side always gives their side a free pass.

So, how about Trump's spending before the pandemic, does he get a free pass on that as well?

 

[there4eyeM]

The right to make bad choices has been largely abused in the U.S.

 

[gipper]

Trump's spending after the pandemic was a necessity. Biden said he was going to end COVID, but massively outspent Trump. The only thing that stopped him were two opposing Democrats.

That’s exactly what the left and Ds say about O’s massive spending. I didn’t believe that either.

 

[BasicHumanUnit]

Agreed. Had Trump helped the American people with all those trillions, he would have been easily re-elected. He’s just not that smart.

Or, the President is not quite as powerful as you may think and is instead somewhat controlled by the deep pockets that actually control things.
Many are still under the false presumption that the elected US President is the most powerful man in the world.
That hasn't been exactly true for some time now.

It's why NEITHER side is good for the average American citizen and why the big banks and Wall street ALWAYS come out on top.

 

[gipper]

The right to make bad choices has been largely abused in the U.S.

But only by elite and those connected to them. The poor and working class get pull up your bootstraps capitalism.

 

[1srelluc]

Used cars are way above book and banks are greedily loaning the money on them.

LOL.....I wondered how long it would take for some leftist here to blame the banks.....Damn you people are so fuckin' predictable.

I'm sure my local bank pulled people in off the street and held guns to their heads to finance their new BidenMobile.

I guess it never occurred to you weirdoes that peeps need to be responsible for the loans they sign-up for....Then again you people are not big on responsibility.

Maybe you need Wash's boy to protect you.

 

[gipper]

Or, the President is not quite as powerful as you may think and is instead somewhat controlled by the deep pockets that actually control things.
Many are still under the false presumption that the elected US President is the most powerful man in the world.
That hasn't been exactly true for some time now.

It's why NEITHER side is good for the average American citizen and the big banks and Wall street ALWAYS come out on top.

I agree in part. However a potus has the bully pulpit and if he’s smart uses it to effectively expose corruption and unfairness, while helping the people. If he has the vast majority of the people behind him, the deep state can only do so much.

 

[gipper]

...and that's capitalism, too. People ralk about it as if it were a gift of deity.

It’s propaganda that works even in the face of reality.

 

[pknopp]

LOL.....I wondered how long it would take for some leftist here to blame the banks.....Damn you people are so fuckin' predictable.

They didn't fail and get bailed out by the taxpayers? That's all a figment of our imaginations?

I'm sure my local bank pulled people in off the street and held guns to their heads to finance their new BidenMobile.

I guess it never occurred to you weirdoes

If you wish to discuss things like an adult, great. If not I'm not interested.

 

[pknopp]

I agree in part. However a potus has the bully pulpit and if he’s smart uses it to effectively expose corruption and unfairness, while helping the people. If he has the vast majority of the people behind him, the deep state can only do so much.

He can also veto anything that comes across his desk. If he signed it, he supported it.

 

[gipper]

LOL.....I wondered how long it would take for some leftist here to blame the banks.....Damn you people are so fuckin' predictable.

I'm sure my local bank pulled people in off the street and held guns to their heads to finance their new BidenMobile.

I guess it never occurred to you weirdoes that peeps need to be responsible for the loans they sign-up for....Then again you people are not big on responsibility.

Maybe you need Wash's boy to protect you.

Are you blaming the working class rather than the oligarchy and wealthy?

 

[evenflow1969]

As much as I hate to go off the musings of one "Lucky Lopez" he's right, the used vehicles (at least the Jeeps) had '20 or '21 stickers on the windshields.

Massive amounts of inventory sat due to lack of chips. Should have effected the market long before now. Thos vehicles sat in huge parking lots with out moving at all for months maybe even years. That is horrible on vehicles expect issues with them. Something strange is going on in both car and real-estate markets. Both should have crashed by now but have not. I sold all my property last summer in anticipation of a real estate crash that has not happened. I know banks have taken back mass amount of properties that are sitting on their books and have not yet reached the market. There are laws that only allow them to own a certain percentage of their portfolio in real estate many of those banks have to be over or near that threshold yet are making no moves to rid themselves of that property. Strange times the way around. The only thing I can think if is the government has told them they will not enforce the law on real estate owned percentages. Little worrisome.

 

[there4eyeM]

What about lease problems?

 

[1srelluc]

Are you blaming the working class rather than the oligarchy and wealthy?

OK Skippy, who signed the loan agreements?

Responsibility means not blaming others for a self-inflicted financial wound.

responsibility: [noun] the quality or state of being responsible: such as. moral, legal, or mental accountability. reliability, trustworthiness.

 

[Fort Fun Indiana]

Nobody purchased cars at 50-60% above MSRP. You could still make your point without the hyperbole.

That's right.

And if they got loans that far over value (125%+), that means they were A++ paper. So they had built excellent credit for at least ten years.

I.E., they know how to budget. That means something went very wrong for them.

 

[1srelluc]

They didn't fail and get bailed out by the taxpayers? That's all a figment of our imaginations?



If you wish to discuss things like an adult, great. If not I'm not interested.

Meh, it's a fool's errand to argue with leftists.

 

[pknopp]

Meh, it's a fool's errand to argue with leftists.

Right, you had no valid argument.

 

[Fort Fun Indiana]

Used cars are way above book and banks are greedily loaning the money on them.

It's not greed. The banks and credit unions have to operate in the same market as each other.

If they don't write the loans, someone else will. And they have to write auto loans, or they will fail. An individual credit union, for example, would have to then drop savings rates. Then, the members pull their money and deposit it elsewhere.

The greed you describe can be found with the auto manufacturers, who are essentially now specialty banks that own a division that makes cars. They are the ones offering ridiculously low rates on their own vehicles, enabling higher profit for themselves on the sale.

 

[pknopp]

It's not greed. The banks and credit unions have to operate in the same market as each other.

If they don't write the loans, someone else will. And they have to write auto loans, or they will fail. An individual credit union, for example, would have to then drop savings rates. Then, the members pull their money and deposit it elsewhere.

Write all you want. Just don't ask me to bail you out when the loans go bad.

 

[Fort Fun Indiana]

Write all you want. Just don't ask me to bail you out when the loans go bad.

We won't. You don't sit on the Fed or any government agency. We will just do it with or without your permission. To stave off depression.