“A development that is surprising during a strong economy and labor market”: New York Fed
What will sink the US auto boom?
Here’s the timeline of billions.
It’s already in the works and goes far beyond subprime.
“Fears of an impending liquidity crunch in that asset class.”
And look what happened to per-capita mortgage debt.
Autos impact various parts of the economy in a big way.
“Reminds me of what happened in mortgage-backed securities in the run up to the crisis.”
Expect the unexpected.
Where I’m interviewed on the X22 Report.