Huge bankruptcies for used car firms have exposed Wall Street’s entanglement with the sector. Far from derisking after the Great Recession, banks rebuilt the economy on obscure financial intermediaries that are now sinking.
The most interesting angle on this is how it’s basically a variant of what happened in 2008 with Mortgages, smaller, but this time around it’s compounded by lots and lots of not officially admitted cost-of-living Inflation that’s not being matched by salary-Inflation.
A crash in this specific underregulated castle of cards of the Finance Industry by itself might actually be more of a hickup than a full-blown Economic Crash, but shit like this together with the collapse of the AI bubble and all of it overcharged by the current insane Trade Policy of the Trump Administration, has the possibility of being something on the scale of the Dot Net Crash AND the 2008 Crash combined.
“Interesting times”, in the meaning of the expression from the Chinese curse.
The most interesting angle on this is how it’s basically a variant of what happened in 2008 with Mortgages, smaller, but this time around it’s compounded by lots and lots of not officially admitted cost-of-living Inflation that’s not being matched by salary-Inflation.
A crash in this specific underregulated castle of cards of the Finance Industry by itself might actually be more of a hickup than a full-blown Economic Crash, but shit like this together with the collapse of the AI bubble and all of it overcharged by the current insane Trade Policy of the Trump Administration, has the possibility of being something on the scale of the Dot Net Crash AND the 2008 Crash combined.
“Interesting times”, in the meaning of the expression from the Chinese curse.