America’s bad auto loans could have nasty consequences
The country’s credit unions are particularly exposed
The Federal Reserve’s interest-rate rises are causing pain in the land of casinos: Nevadans are googling how to return their car more than folk in any other state. Yet while their pain is acute, it is not unique. Across America, the share of high-risk auto borrowers that are behind on payments by at least 60 days reached 6.1% in September, its highest in three decades (even if just a little higher than in 2019).
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This article appeared in the Finance & economics section of the print edition under the headline “Death valley”
Finance & economics November 11th 2023
- Are politicians brave enough for daredevil economics?
- America’s economic might gives it little sway in the Middle East
- America’s bad auto loans could have nasty consequences
- Forget the S&P 500. Pay attention to the S&P 493
- Why American manufacturing is becoming less efficient
- The Chinese yuan is losing value, yet gaining ground
- In praise of America’s car addiction
From the November 11th 2023 edition
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Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart