The Economy

[MajorRewrite]

Trouble in the auto loan market. I didn’t know that sub-prime auto lending was a thing, but it’s not surprising that it has problems.

The recent collapses of Tricolor, a used car seller and sub-prime auto lender, and First Brands, an auto parts supplier, have put the finance industry on edge, almost two decades after problems in the sub-prime mortgage lending market set the stage for the global financial crisis.

Car repossessions surged to their highest level since 2009 last year, according to Cox, with 1.73m vehicles seized, up 16% from the year prior and 43% from 2022.

Car owners were found to be missing payments at the highest rate in more than 30 years in January, when a Fitch Ratings index monitoring the share of sub-prime auto borrowers at least 60 days past due on their loans hit 6.5%.

 

[heathrowinneo]

https://www.cnbc.com/2025/10/17/how-much-trump-tariffs-are-costing-small-businesses.html

The tariff tax is doing a number on small businesses. The farmers and miners are also on the short-end of the stick even though most voted for the guy to make their life difficult.

 

[DeluxAuto]

https://www.facebook.com/reel/3409684579179361/?mibextid=rS40aB7S9Ucbxw6v



Fucking idiots.

 

[Lazaran]

https://www.facebook.com/reel/3409684579179361/?mibextid=rS40aB7S9Ucbxw6v

View attachment 2571734

Fucking idiots.

How humiliating for that MAGAt.

A "DEI hire" just REKT his stupid / uninformed "superior straight white Christian male" (MAGAt) ass.



We. Told. Them. So.

 

[DeluxAuto]

How humiliating for that MAGAt.

A "DEI hire" just REKT his stupid / uninformed "superior straight white Christian male" (MAGAt) ass.



We. Told. Them. So.

Nine months is all it took to get to the "find out" part.

 

[Lazaran]

Nine months is all it took to get to the "find out" part.

And we’re fast approaching the “REALLY finding out” stage.

See:

https://www.msn.com/en-us/money/mar...ans-spark-concerns-on-wall-street/ar-AA1OGnI2



The only remaining question is: How bad of a situation will DonOld leave the next administration (if there is one)???

Worse than the situation G. W. Bush left President Obama???

Worse then the situation DonOld left President Biden???



We. Told. Them. So.

 

[Rockymtnman]

Core inflation up again in September. Projected to be .3-.4%. So much winning.

 

[Buffalogurl]

Trouble in the auto loan market. I didn’t know that sub-prime auto lending was a thing, but it’s not surprising that it has problems.

Tricolor holdings abruptly filed for chapter 7 bankruptcy about 2 weeks ago...... get this,tricolor was selling the same loan to several different banks using the same exact collateral, basically fraud (allegedly) . A large portion of the loans were to illegal aliens whom never made any payments nor did they have a social security number or driver's license......and the loans were as high as 30% interest also there seems to be home mortgages involved as well (shadows of 2009 come to mind?)
As a result there are two banks in very much trouble, Zions Bank and western alliance bank.... a day or so back the regional banks took a beating in stock losses as a result of the exposure.......
Oh' one more item, a sizable number of illegal aliens are "Self deporting" and taking their cars with them leaving the lenders without collateral....... (once again we are witnessing greedy, and extremely risky and dangerous lending practices)...... it's my hope and prayers that these vile greedy banks and lending institutions receive everything they so righteously deserve......

 

[Buffalogurl]

Core inflation up again in September. Projected to be .3-.4%. So much winning.

Welp look at the bright side.... gold and silver are making record gains... and just mauling the London exchange because of the silver squeeze.... what's not to love?

 

[heathrowinneo]

Tricolor holdings used lax underwriting regs and laws and made their money, over and over again. The banks that bought the bad paper should have done a better job with their due diligence. Underwriting standards become a bone of contention when the regs are tightened and precludes many from obtaining credit. Loosen the standards and the gates open for fraud. Kind of 2008'esque'ish. Bet there is more to come.

 

[DeluxAuto]

tricolor was selling the same loan to several different banks using the same exact collateral, basically fraud (allegedly) . A large portion of the loans were to illegal aliens whom never made any payments nor did they have a social security number or driver's license.

The racist idiot accidentally admits that illegals were the victims of scams by white American businesses.

 

[MajorRewrite]

Sycophant Treasury Secretary Bessent sells out his beliefs because Crooked Donnie told him to. Such an obedient sheep!

When Biden was president, Bessent said centrally planned industrial policy would bring disaster!!

Last year, financier Scott Bessent went before the Manhattan Institute to excoriate the Biden administration for its revival of industrial policy. “History teaches us that prioritizing free enterprise and limiting government’s role in the economy are key to raising living standards,” he said. Nonetheless, he continued, “the Biden administration chose to put central planning at the heart of its economic agenda,” offering tax breaks to companies investing in sectors and projects that the administration considered crucial to the nation’s future, such as promoting green energy and jump-starting domestic production of critically important products made almost entirely in China. By injecting the state in what should be left to the market, Bessent concluded, “economic calamity was the predictable result.”

Now that Crooked Donnie is calling the shots, industrial policy is the greatest thing ever! And it’s a much more aggressive version than Biden’s. Fuck the free market!

Last Wednesday, Bessent, now Donald Trump’s Treasury secretary, said the government would be expanding its actual investments in companies in economic sectors that it considers critical to the nation’s future. Where Biden merely sought to boost the private semiconductor industry through grants and favorable tax policies, Trump has had the government take an ownership stake in Intel. Biden certainly backed trade policies to boost the domestic steel industry, but Trump has had the government take a “golden share” (that is, become the chief decision-maker) in U.S. Steel. Under Trump, the government has also become a major shareholder in the nation’s major rare earths mining company. On Wednesday, Bessent said the government would be adding to such acquisitions by intervening in five to seven other key industries, including pharmaceuticals, shipbuilding, and arms production.

It’s remarkable how far MAGA sheep like Bessent will debase themselves in service of Crooked Donnie. They’re a real pack of weirdos.

And you can bet that fortunes are being made from insider trading and kickbacks.

 

[Rotadom]

@m3rIc@ fIR$t!

 

[domroger]

View attachment 2572303

@m3rIc@ fIR$t!

Trump lying is his default position.