An estimates 1.6 million car repossessions in 2024 in the USA:
Gold overnight dropped like a rock. With money supplies remaining stable and growth among them muted there is no play in gold.
Oil same thing.
We are seeing a retooling in the UK, US, Mexico, and Japan. We no longer need China. We are seeing gold crush the Chinese economy as the country faulters. Russia is frail economically. Their war effort has been inept and stupid.
Your positions are backed by banking problems on the individual level. The major institutions are not generally have problems.
My own thoughts, the 2H24 will see major economic growth begin to take root in the US/Mex but the markets are at risk.
Inflation is down with the reports for the next three months being favorable. Any bets on inflation being a problem will subside.
It often does after the markets close. The bullion banks at work!
Very lame. Come up with better. Blogger filler.
A close friend tells me the Chinese are huge buyers. He claims the Indians are huge buyers. What overnight are you discussing?
# Drivers Struggle With Pricey Car Payments
Even with 8 year financing? Maybe people should rein in their lust and buy cars that are a bit more reasonably priced. Oh, wait. The big three don’t want that “affordable” segment. They only want to sell the biggest, most expensive, models. No problem. Just close more factories, and lay off thousands more Proles, to “right size” the company for a shrinking customer base.
1 Like
It is a demographics matter.
The Boomers were the largest gen.
Turns out the Millennials were bigger and the Zs were close to the same size as the Boomers.
Younger people’s appetites make mistakes. It is easy to buy a used car for less money. Regardless of the recent inflation in used car prices.
If it were the X or Alphas the numbers would be smaller.
Business is booming for drones, literally! 
The Captain
2 Likes
How about this then:
August 10th, 2022: Gregg Smith and Michael Nowak, two former gold traders for JPMorgan, are convicted of fraud. They used a strategy called “spoofing,” which involves placing huge orders in the futures market with the intent to cancel them. This skews supply and demand, artificially raising or lowering the price so the traders could buy low or sell high. According to the U.S. Department of Justice, JPMorgan’s scheme “spanned over eight years and involved thousands of unlawful trading sequences.”
The Commodity Futures Trading Commission (CFTC) orders Deutsche Bank to pay a $30 million civil monetary penalty for manipulating precious metals prices.
This explains why it is so easy. Gambling over ‘gold’ that does not exist:
The manipulation is made possible due to the fact that what has been sold does not exist
The repo business is probably doing well around here now. I see a repo guy park his truck in a nearby lot almost every night. A year or two ago, he would have zero, 1, or 2 cars on the truck (I assume he picks them up at night and brings them to a repo lot early in the morning), now he regularly has 4 or 5 on the truck. Interestingly, it’s not one of those big car carriers, it’s a big Ford or Chevy truck with a trailer behind it that can carry 5 (maybe 6?) vehicles.
2022? You just claimed fraud for 2024.
The market is bigger than a few fraudulent traders. Or you need to stop playing with them.
No wonder that people can’t make their car payments:
That’s a constant.
The pandemic was a bit different.
1 Like
Powell is telling everyone that the economy is strong, but how can it be when most of that economies are broke?
Something wrong somewhere:
The stated objective of “supply side economics” has always been to drain all the wealth out of the Proles, and give it to the “JCs”.
1 Like