American Car Center, that targeted even low income buyers with loans, told its employees on Friday that it was closing, one day after pulling a $222 million bond sale off the market. This could be the first signpost of the beginning credit crisis in the US that will spill-over into other economies fast.
1 sat \ 7 replies \ @siggy47 26 Feb 2023
I have been reading about the pending credit crisis for US auto loans for at least two years. Perhaps it's finally happening.
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11 sats \ 4 replies \ @TomK OP 26 Feb 2023
Those markets, look at real estate, seem to ignore reality until they don't. Then it happens fast. In the 70s people were running to the gold dealers to save themselves in a stampede. Always the same mass behaviour
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0 sats \ 3 replies \ @TNStacker 26 Feb 2023
Good to have that L-T perspective. I'm glad I was around, although as a child, to see the 70s and 80s. I feel relatively prepared for what is coming. When The Ds pushed that covid stimulus and the Rs signed on right away, I had a scared-shitless epiphany and completely changed my behavior. Stacked gold, silver, storable food and lead first. And then after dabbling as a crypto trader since 2017, I started researching and dollar cost averaging Bitcoin.
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0 sats \ 2 replies \ @siggy47 26 Feb 2023
I was around then too. It seems like we took a similar path to bitcoin. Late 70s to early 80s inflation was bad, but government debt was peanuts compared to today. I'm interested to see how it plays out.
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0 sats \ 1 reply \ @TomK OP 26 Feb 2023
When this avalanche of public debt loses ground and the central planers control over the bond market... good night. Prayers that it won't get completely out of control on the streets
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0 sats \ 0 replies \ @TNStacker 26 Feb 2023
All that's happening with law enforcement, etc. does not give me confidence about control on the streets.
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0 sats \ 1 reply \ @TNStacker 26 Feb 2023
It is. All that "free" fiat money takes time to work through the economy.
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0 sats \ 0 replies \ @TomK OP 26 Feb 2023
Imagine that they have to expand money supply exponentially... if I'm still around and still having cash-flows I'll be buying btc at any price to fight the freaks.
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0 sats \ 0 replies \ @kilianbuhn 26 Feb 2023
🤷🏻♀️🤷🏻♀️
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0 sats \ 1 reply \ @TNStacker 26 Feb 2023
This is the real beginning of the recession. Sad for the mostly lower-paid Tennessee workers at their boiler room in Memphis.
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0 sats \ 0 replies \ @TomK OP 26 Feb 2023
Yes. If I look at macro... I think we have no idea how everything is messed up.
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0 sats \ 0 replies \ @nkmg1c_ventures 26 Feb 2023
Probably nuffin
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