One Chart Proves Auto SAAR Numbers Are Nothing More Than A Rigged, Debt-Fueled Farce
@zerohedge -

Earlier this morning the New York Federal Reserve released their quarterly consumer credit report which detailed, among other things, delinquencies rates on every type of consumer debt from mortgages to student loans.  

Now, given the 4.3% unemployment rate in the U.S. (forget the ~95 million people out of the labor force for a moment) and equity markets which reassure us that "everything is awesome" by surging to new highs each and every day, one would assume that delinquency rates on consumer...

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