Across the US, people are increasingly defaulting on their car loans — a dire economic indicator because these loans are usually the last payment Americans are willing to miss. Meanwhile, auto insurers are raking in record profits after hiking rates.

Across the US, people are increasingly defaulting on their car loans — a dire economic indicator because these loans are usually the last payment Americans are willing to miss. Meanwhile, auto insurers are raking in record profits after hiking rates.

  • fodor@lemmy.zipEnglish
    22·
    3 days ago

    These sure look like signs that the consumer is not being protected. These problems used to be mostly solved, but apparently the government has un-solved them.

    • bryndos@fedia.io
      7·
      3 days ago

      Yeah but that’s just a necessary consequence of solving the much worse problem of having a banking and finance sector that lacked the freedom to shoot everyone in the future in the foot - faster and more often than their competitors.

      Did you not see the horrors that FDR inflicted on the economy - if it weren’t for his draconian banking regulations the 1920s would have lasted another two decades, and probably avoided WWII.

      spoiler

      /s