# Unpaid subprime car loans hit 20-year high



## SmugWaffle (Mar 26, 2012)

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## BillS (May 30, 2011)

It's worth noting that the subprime car loan bubble is about to pop. And so is the student loan bubble. And the government bond bubble. America is heading for bankruptcy. We're going to be like Venezuela with all kinds of shortages of basic necessities, a devalued currency, a collapsing economy, and martial law.

It's also worth noting that the article included the nonsense about the "overall strength of the economy." In reality, all the economic numbers are fraudulent and the economy is collapsing.


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## Grimm (Sep 5, 2012)

Well, I'm glad the car we bought last year was paid for in cash.


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## oldasrocks (Jun 30, 2012)

Maybe I can soon afford the Jeep I want. All I need to do if find someone who made 99 out of a hundred payments and lost the Jeep for the one.


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## bkt (Oct 10, 2008)

BillS said:


> It's worth noting that the subprime car loan bubble is about to pop. And so is the student loan bubble. And the government bond bubble. America is heading for bankruptcy. We're going to be like Venezuela with all kinds of shortages of basic necessities, a devalued currency, a collapsing economy, and martial law.
> 
> It's also worth noting that the article included the nonsense about the "overall strength of the economy." In reality, all the economic numbers are fraudulent and the economy is collapsing.


That's certainly a possibility. And yes, I laughed at "overall strength of the economy." One wonders what the author is smoking to think our economy is in any way in good shape.


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## CrackbottomLouis (May 20, 2012)

I thought the bubble would burst 2 years ago but investors keep shoveling money in.


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## tsrwivey (Dec 31, 2010)

I think we'll just put another engine in the Tahoe instead of replacing it right now. There may be a flood of used cars on the market soon which will hopefully drive prices down.


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## Tirediron (Jul 12, 2010)

tsrwivey said:


> I think we'll just put another engine in the Tahoe instead of replacing it right now. There may be a flood of used cars on the market soon which will hopefully drive prices down.


 What year is your Tahoe, depending on the series,( GMT400, GMT800) I might be able to provide helpful advise on longevity improvements.


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## Tweto (Nov 26, 2011)

BillS said:


> It's worth noting that the subprime car loan bubble is about to pop. And so is the student loan bubble. And the government bond bubble. America is heading for bankruptcy. We're going to be like Venezuela with all kinds of shortages of basic necessities, a devalued currency, a collapsing economy, and martial law.
> 
> It's also worth noting that the article included the nonsense about the "overall strength of the economy." In reality, all the economic numbers are fraudulent and the economy is collapsing.


Add the consumer credit card debt of almost $1,000,000,000,000 and we could be on the edge of something massive.

Auto defaults, student loan debt and credit card debt are all at record highs. Geez, a smart person can see the writing on the wall and it's not good.


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## readytogo (Apr 6, 2013)

My first lesson in my new American world came from my uncle, he left Cuba way back in the late 1940`s or so, never learn English but had 3 jobs in New York city and pay for the whole family to come to America legally ,I was the last to leave the island on the famous freedom flights. I have the house that he bought for all of us to live in and on that day he grab a bunch of dirt and gave it to my father and told him to never borrow money on it to saved and refrain from credit to keep money away from greedy bankers and the stock market, I listen well so did my father, with the many jobs we work we also saved and put away for the things we needed, not wanted, the house is been fix by my own hands and the skills needed for it I learn in schools and in the US Army, or just from plain books , we all work hard in this family my girls go to school and we don’t splurge on useless junk my vehicle is from 1989 with a new engine and transmission plus other major items ,I don`t pay a mechanic for anything except for the big Eng./transmission job ,no credit all cash saved in a nice wide mouth mason jar, after losing my job of 26 years to a back injury we are force to lived on a smaller income and pension ,cashed my 401k,my savings are up and running and I own $400 on my one and only visa do to a kitchen repair and washing machine parts ,all fix with my old two hands and family help, the bottom line here is that we all love the commercial gravy train we watch too much TV and want what the others have the more junk we see the more junk we need .Gluttony plays a great part in our problems, not the government nor the devil, Case in point here; about one third of the planet`s food goes to waste, we are one of the worse nations for that, and we as its people are included too( marsh,2016 national geographic)we need to look in the mirror first before passing judgment on others.
my opinion.


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## crabapple (Jan 1, 2012)

I have scrape & saved bits of money in my 401 k-plan, mostly in company stocks.
I have made 4 to 1 on every dollar I invested over 30 years.
I keep hearing how stocks are bad & people who invest in the market are bad or dumb. I do not get it.
I hedge my bet with coins, raw land, timber, Equipment & tools.


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## tsrwivey (Dec 31, 2010)

Tirediron said:


> What year is your Tahoe, depending on the series,( GMT400, GMT800) I might be able to provide helpful advise on longevity improvements.


2005 1500. It's a half ton


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## Tweto (Nov 26, 2011)

crabapple said:


> I have scrape & saved bits of money in my 401 k-plan, mostly in company stocks.
> I have made 4 to 1 on every dollar I invested over 30 years.
> I keep hearing how stocks are bad & people who invest in the market are bad or dumb. I do not get it.
> I hedge my bet with coins, raw land, timber, Equipment & tools.


We have been living a parallel life. This is what I did. I made 90% of my money in the stock market in the 80's and 90's. I made one of my top 3 smartest decisions of my life by getting out of the markets in the spring of 2000. Within 3 months of getting out the stocks I was invested in at had crashed from $85 -$120 to below $20 and one dropped to $1.50 and to this day has not recovered and is still below $5.

As of Dec 2014 I have been completely out of any investment because my gut is saying that we are in for ride down for the next several years. It's the same feeling as I had in the spring of 2000.


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## Tirediron (Jul 12, 2010)

tsrwivey said:


> 2005 1500. It's a half ton


5.3 ? , some had cylinder head casting problem, but many knowledgeable people call the GM LS series engine the best engine ever built. If possible a 5.3 or even a 4.8 of the next production series would be a good replacement, if the rest of the truck is in good shape, A good low mileage engine should be fairly cheap.


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## Dakine (Sep 4, 2012)

readytogo said:


> My first lesson in my new American world came from my uncle, he left Cuba way back in the late 1940`s or so, never learn English but had 3 jobs in New York city and pay for the whole family to come to America legally ,I was the last to leave the island on the famous freedom flights. I have the house that he bought for all of us to live in and on that day he grab a bunch of dirt and gave it to my father and told him to never borrow money on it to saved and refrain from credit to keep money away from greedy bankers and the stock market, I listen well so did my father, with the many jobs we work we also saved and put away for the things we needed, not wanted, the house is been fix by my own hands and the skills needed for it I learn in schools and in the US Army, or just from plain books , we all work hard in this family my girls go to school and we don't splurge on useless junk my vehicle is from 1989 with a new engine and transmission plus other major items ,I don`t pay a mechanic for anything except for the big Eng./transmission job ,no credit all cash saved in a nice wide mouth mason jar, after losing my job of 26 years to a back injury we are force to lived on a smaller income and pension ,cashed my 401k,my savings are up and running and I own $400 on my one and only visa do to a kitchen repair and washing machine parts ,all fix with my old two hands and family help, the bottom line here is that we all love the commercial gravy train we watch too much TV and want what the others have the more junk we see the more junk we need .Gluttony plays a great part in our problems, not the government nor the devil, Case in point here; about one third of the planet`s food goes to waste, we are one of the worse nations for that, and we as its people are included too( marsh,2016 national geographic)we need to look in the mirror first before passing judgment on others.
> my opinion.


when you make posts like this I really respect your family and the climb out of oppression and into freedom!

I tend to disagree a little bit at the very end when you're talking about food though.

It's not the job of anyone here to size up a rabbit/pig/deer/elk to be harvested and then estimate how much of that is to be "really needed" and then... what? magically send it to starving kids in Africa?

We (this we being the entire world if you consider wfp.org ) send a LOT of food that is wasted at the destination. North Korea for example, a nation ravaged by poverty and ruled by Tyranny since it's inception has always diverted humanitarian food shipments to its military. The upside-down dictatorships in Africa and elsewhere do the same thing.

You must eventually come to accept that fleeing the tyranny isn't an acceptable solution and that the people must hold public officials accountable.

the US may indeed "waste food" but that is NOT a US problem, nor does it deprive starving babies in Africa from a meal, right!!!???

is McDonalds the collection center for the left over half cheese burger, the few left over french fries, the unused packets of mustard or ranch sauce... McD's is gonna put all of those into an igloo cooler and rush them to the airport every night so that 15 hours later someone can eat the left over cheeseburger?

are you kidding?

It's up to the people there to demand more from their leaders. And yet, I notice that Europe is in the process of it's 3rd failed attempt at socialism. I don't think there's a valid reason for the USA to continue funding the socialism in Europe or the tyrannical tribal governments in Africa, and parts of Asia and elsewhere..

I think it's also vitally important to realize that you can not go home to Cuba and post your thoughts there on this or any other website. You'd be arrested and jailed.

stop me when I'm wrong... (but I'm not)

and this isn't limited to Cuba, it's Iran, China, Russia, etc.

you think about food a LOT, please start thinking a little bit about the tyranny that creates the food shortages and blame that, not waste from people who have nothing to do with starving people anywhere else.

just a thought...


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## crabapple (Jan 1, 2012)

Tweto said:


> We have been living a parallel life. This is what I did. I made 90% of my money in the stock market in the 80's and 90's. I made one of my top 3 smartest decisions of my life by getting out of the markets in the spring of 2000. Within 3 months of getting out the stocks I was invested in at had crashed from $85 -$120 to below $20 and one dropped to $1.50 and to this day has not recovered and is still below $5.
> 
> As of Dec 2014 I have been completely out of any investment because my gut is saying that we are in for ride down for the next several years. It's the same feeling as I had in the spring of 2000.


Glad you saw the light & saved your money.
I put most of my money in a company that will not make one rich over night, or in a few years. It's stock has never been higher the $85.00 & has been as low as $7.25. When it dropped because a hassle take over fell, a lot of people got out at a big lose.
I double how much I was putting in per pay period until the stock went back up. The company was strong, over 100 years old & a top 500, so I made a good guess & won.
Stocks spitting 4 times in the last 40 years did not hurt.
I made some mistake in management over the year or I would have much more, but one has to learn some how.


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## BillS (May 30, 2011)

It's amazing when you think about how much economic activity has been financed by trillions in loans that will never be repaid. That's true of the trillion dollar annual deficits by the federal government, home construction loans, student loans, new car loans, and credit card loans. Think about how bad the economy will become when people and the government can no longer spend massive amounts of money on credit. Then add in the effect of trillions of dollars with of bad loans hitting the economy. It's going to be worse than most people can imagine.


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## BillS (May 30, 2011)

tsrwivey said:


> I think we'll just put another engine in the Tahoe instead of replacing it right now. There may be a flood of used cars on the market soon which will hopefully drive prices down.


I don't think we'll see a big wave of vehicle repossessions. That would create bad economic news. I expect the federal government to allow borrowers to qualify for low interest refinancing and stretch out their payments (and loan defaults) far into the future. At least for as long as the federal government can continue to have the Federal Reserve create money out of thin air.


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## hiwall (Jun 15, 2012)

I believe I read where vehicle repossessions are already at all time highs. This has led to new businesses opening. Think asset retrieval companies.


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