Why car prices are still high and consumer debt is piling up. Ana Kasparian discusses on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live
Read more HERE: https://www.city-journal.org/article/driven-to-debt
"America has suffered stock-market bubbles and housing-market bubbles—but a car bubble? Last month, Tesla/Twitter impresario Elon Musk casually called the recent upheaval in the trillion-dollar-plus auto-loan market “potentially, the biggest financial crisis ever.” Musk overstates the case, or rather confuses it. The country doesn’t have a car-loan crisis, but an overall consumer-debt crisis. Crazy levels of auto lending are just an example he knows well. The broader question is: Can a country addicted to cheap debt adjust to normal interest rates?"*
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230412__TA02CarsRECUT
Read more HERE: https://www.city-journal.org/article/driven-to-debt
"America has suffered stock-market bubbles and housing-market bubbles—but a car bubble? Last month, Tesla/Twitter impresario Elon Musk casually called the recent upheaval in the trillion-dollar-plus auto-loan market “potentially, the biggest financial crisis ever.” Musk overstates the case, or rather confuses it. The country doesn’t have a car-loan crisis, but an overall consumer-debt crisis. Crazy levels of auto lending are just an example he knows well. The broader question is: Can a country addicted to cheap debt adjust to normal interest rates?"*
***
The largest online progressive news show in the world. Hosted by Cenk Uygur and Ana Kasparian. LIVE weekdays 6-8 pm ET.
Help support our mission and get perks. Membership protects TYT's independence from corporate ownership and allows us to provide free live shows that speak truth to power for people around the world. See Perks: ▶ https://www.youtube.com/TheYoungTurks/join
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230412__TA02CarsRECUT
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