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In Reply to: I see pandemic-induced homelessness, but not a recession posted by Dave_K on November 1, 2021 at 07:23:39:
it officially only lasted two months in this country [it's ongoing in other economies] but there's a rather nasty surprise coming
many are unaware that auto loan backed securities basically replaced mortgage backed securities as the next bubble waiting to burst
for millions of households in the US, gov't assistance has ended
positive job growth without positive wage increases just isn't enough
this will inevitably lead to auto loan defaults which will cause ...
well, we've seen the plot of this movie before haven't we?
there will be scads of used cars on the market though
which helps explain the auto makers and dealership networks keeping inventories low ... I mean, besides supply chain issues
buckle up ... we're going for another ride!
with regards,
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- RE: I see pandemic-induced homelessness, but not a recession - rivervalley817 11/1/2111:08:42 11/1/21 (0)
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