Lucky Luke
Well-Known Member
Allot of that debt lasts for a long time. Cars, Boats, principal place of residence, investment property, shares/cryptocurrency, etc we wont see the ramifications of low interests rates for some time but when that jumps up 2%. Many are going to go bust, with that the price of real estate will fall. If the Farmers are growing and don't find a market this season then your also in real trouble.Auto loans $1.4 trillion and 7,000,000 were 90 days or more past due. The amount of debt is incredible. Yet Americans keep spending and this whole economy is contingent on that spending. So when the bottom falls out, again like it historically does and must under the principles of capitalism, this huge ocean of debt will start drowning people. Watch for people to go to jail for a repo.
This thing with China is hurting everyone. Lets hope it gets settled fast.