Bad News for the Stock Market

Borrowers in the U.S. are defaulting on subprime auto loans at a higher rate than during the financial crisis, according to Fitch Ratings.

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Lenders are responding by pulling back on financing to applicants with shaky credit histories and requiring higher standards for loans that they bundle and sell on to investors.

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www.bloomberg.com/news/articles/2018-05-14/consumers-skip-more-high-rate-auto-payments-than-during-crisis

and real inflation stands at 10%

www.shadowstats.com/alternate_data/inflation-charts

America is basically a banana republic now

 

AC

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