The evil Federal Reserve itself is reporting that over 7 million people are at least 3 months behind on their car payments. That's pretty astounding. First thing I thought of was, how many are two months behind? And one month, or just barely staying current?
I would imagine most of these people are those with jobs, not among the 50 million in this country living below the poverty line, because they did qualify for a loan. Not that qualifying for a car loan has been all that difficult for years now.
But this statistic obviously tells a bigger story. When you combine it with the 1.4 trillion in student loan debt, the credit card debt crisis, the rent crisis, ever rising health care costs, etc., the bottom 80% of people in this country are living life on the fucking economic edge.
Next time you're out and about and you see all these people driving nice cars, you might want to look at them a little differently.
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