Car debt is piling up for consumers, according to a Bloomberg News report. The outlet found that the amount of negative equity, or the amount that debt surpasses a vehicle's value, is building up. This has led many car owners to show up at lots underwater, which is also known as "upside down," as they try to trade in their debt-burdened cars. The situation has emerged against a backdrop of rising interest rates, with the average new-car interest rate hitting 6.9 percent in January, up from 4.3 percent a year earlier, according to Edmunds.
The return of ‘meme stocks’ don’t mean it’s time to panic about the stock market. If you want something to worry about… look no further than inflation.
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With Gamestop and other meme stocks back on the rise, it brings to mind some similarities between 2021 and 2024 economically… and that’s not necessarily good.
