Jeff Bezos’ newspaper The Washington Post has the article A record 7 million Americans are 3 months behind on their car payments, a red flag for the economy.
A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis.
Isn’t it odd how statistics can be made to lie. All the traditional measures of the economy are booming because they are not affected by this negative information. It is clever the way the oligarchs and the finance, insurance, and real-estate sectors can hide the bad news where the corporate news media won’t report it with big headlines. Sure people are employed, but they are going broke working.