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Dude i just finished watching the big short!
‘Short anything that guy has watched. I want a half billion more in long dated PUTS’
People miss the point, banks could have buried burry.
When loaded pickup trucks cost nearly 100k its a recipe for disaster. My first home purchase in Ca in 2009 was 220k. Just because you may be able to float that payment right now does not mean its a good idea.
Borrowing on a depreciating asset was always silly, and now they are junk that depreciates even quicker on top of costing far more than they used to.
Maybe your dollars are worth less also
Try watching theses guys float a 1.5 million dollar loan for a beater home in San Jose. At 7 percent. Because they say it’s an investment.
That $100K truck probably sold for $115K last year. Imagine being underwater on that?
I Delver Fright, it isn’t looking good on our end. Cutting hours week by week. then it will be cutting people.
Delivering fright, indeed.
These companies focused on loans to people without social security numbers.
Second Comment: It’s wild how fast the same patterns repeat. I worked at a small credit union back in 2016, and we saw something similar short-term lending models looked great until the subsidy money dried up. Everyone wanted to believe the demand was organic, but it was never sustainable.
Same here. I was consulting for a regional lender that got deep into those “no SSN” auto loans. The internal optimism was unreal until defaults hit. I ended up working with an advisor named Kate Marie Lynott after that whole mess. She helped me get really clear on what kind of risks I actually wanted to take on in my career. I was stressed and second-guessing everything, but she’s big on grounding decisions in real data, not just momentum.
That’s interesting did she specialize in finance or more general strategy stuff? I’ve been thinking about getting outside input myself; it’s hard to see the blind spots when you’re too close to it
A bit of both, honestly. She’s got a background in consulting and leadership coaching, so she brings that mix of practicality and reflection. I think if you just search her name, her site comes up she’s got some articles that are worth reading even if you don’t end up working with her.
I heard her boyfriend was her husband’s cousin.
Those whiteboard pop-up animations are really neat!
Tell that to the people investing in Carvana. They don’t seem to think it’s a big deal.
Thanks for the updates & educating US 🇺🇸 & Rest ! Your explaination is simple & to the point!
This is a good story. I bought a 2012 used Camry a few years back. Had it parked on the street. Some lady decided she’s gonna park my car where I was parked. The other persons insurance paid to fix it. Midway they said cancel but the back bumper damage was fixed. I called her insurance and told them I want my car back. Got it back but they had to pay off my car. I’ve had no problems with the car and I even got from the dealership a $2500 check for paying off the car early. God bless America no car payment and no trouble with my car. Idk if I can name the dealership so I won’t but they’re very fair and honest
Driver of ’11 camry about to hit 200k miles. Going strong!
Its really a shame. I’ve mostly had nothing but positives about Carmax. Its a great place to liquidate a vehicle you don’t want the trouble to try and sell yourself. If they ever run out of liquidity and stop buying cars without a new purchase, then we will know then end is near for them.
The 2008 financial meltdown took me by surprise, not the one coming. My brother and myself were unemployed, we got 99 weeks. Looks like once again, the corrupt American financial system is going to bring us pain again.
99 weeks?
@noble7461 you weren’t old enough to remember
No 99 weeks this time , maybe 5 weeks then a tent and shopping cart.
My mistake, I forgot the internet is just for sarcastic shh posts, not useful information.
The worse the news gets, the higher the stock market goes.
The top 10% is in good shape. Everyone else, not so good.
By design
Betting on govt bailouts
Yes, because the US dollar will be printed to zero once the feds cuts rates enough. The only real stable value left are stocks and gold
In the US bad debt is called Derivatives and CDOs, re-packaged as investable assets, and buried into 401k mutual fund plans where no one sees it, but you can find it if you look for it. As always, the banks privatize the profits and socialize the risks.
Trump and friends just allowed private credit to be eligible for 401k plans. What’s the worst that can happen.
They knew we were in a recession the moment they stopped the data. June 2025.
Got to pump before they dump
More like the last 2 years. Stocks have been sideways sans mag7
CPI price imputations at 50%, up from 15 since March. They are cooking the books. But by the definition of a recession (2 quarters of GDP decline) we haven’t seen a recession yet due to the overshoot on nett imports by tarrif front running and the consequent bounce back of lower imports when they went into effect.
They’ve planned this for decades. Before they even created America. We should have had a cyclical recession years ago but they’re kicking the can to make it even bigger
Apparently you forgot JOE BIDEN CHANGING THE DEFINITION OF RECESSION.
I’ve been following George for some years now and i have to say you are the GOAT for me on YT. Excellent presentation, every time. Bless you for sharing your knowledge🙏
AVAX 35%, XA314K 30%, SOL15%, PYTH 15% and 5% of DOGE. I wonder how it ends. Good luck everyone.
The REALITY of CarMax is a scam. The father’s company handles all the loans, the son runs CarMax. They have dumped all their stock in their own companies after the ponzi hit the top. Plain and simple.
That’s carvana
Let me guess. The banks have been selling CLOs during this subprime party. Underwriting standards have fallen. Yeah, this rhymes!
Subsidies are not the main cause. The system itself is the crisis. If there had been no subsidies, then everything would have collapsed four years ago.
The question is really: who comes first? The people, or the wealth of the ruling elites. In the USA, it is always the ruling elite.
Remember the end of the movie “The Big Short”? Did anyone go to jail? So here we are again with the crooks taking the money and running after giving their “protection money” to our immoral government employees often in the form of campaign contributions.
Every credit cycle dies on unbridled optimism, excessive leverage, and widely ignored fraud. We are human, and we always find a way to do this.