Potential Fed Figure Fiddling on Economy’s Health Exposed by Jump in Bad Car Loan Numbers
By: Ilya Tsukanov
Published: 2024-09-13
The recent spike in bad car loan numbers has raised concerns about the true state of the economy, especially as the Biden administration faces accusations of manipulating economic data. Figures on lapsed car payments indicate growing consumer stress, reflecting a deteriorating financial situation among borrowers.
Ally Financial, a major auto loan company, has observed an increase in delinquencies on payments and debts unlikely to be recovered, signaling a troubling trend in borrower financial health. Data analytics by Experian PLC revealed significant spikes in high monthly payments and overdue loans.
These revelations come amidst claims by critics of the Biden administration that economic figures have been distorted for political gain. President Biden has even been caught exaggerating the economic state, further fueling skepticism. Post-debate polls show Trump leading in key economic issues, challenging perceptions of Harris’s superiority.