Steve Hayward of Power Line is back with another chart. This one shows the history of auto loans and credit cards going into serious delinquency (more than 90 days).
As you can see, the last time missed payments were as bad as they are now, we were headed into what was eventually called the Great Recession of 2008-9.
In his accompanying discussion, Hayward also notes the downward "adjustment" made to Bureau of Labor Statistics job creation numbers. The earlier estimates were likely inflated to make Biden and Harris look good.
Fewer jobs, more debt, and the result is people not able to pay what they owe. Meanwhile VP Harris keeps laughing.
Do you suppose the people being hectored for past-due debt are laughing? How about those whose cars are repossessed?
No joke, it appears there is a recession in the offing, how soon it arrives is beyond my economic expertise.
