Why car prices are still high and consumer debt is piling up. Ana Kasparian discusses on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live
Read more HERE: https://www.city-journal.org/article/driven-to-debt
"America has suffered stock-market bubbles and housing-market bubbles�but a car bubble? Last month, Tesla/Twitter impresario Elon Musk casually called the recent upheaval in the trillion-dollar-plus auto-loan market 'potentially, the biggest financial crisis ever.' Musk overstates the case, or rather confuses it. The country doesn't have a car-loan crisis, but an overall consumer-debt crisis. Crazy levels of auto lending are just an example he knows well. The broader question is: Can a country addicted to cheap debt adjust to normal interest rates?"*
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