April 8, 2021 | How Can These Two Trends Coexist?
John Rubino
John is author or co-author of five books, including of The Money Bubble, The Collapse of the Dollar and How to Profit From It, Clean Money: Picking Winners in the Green-Tech Boom and How to Profit from the Coming Real Estate Bust. A former Wall Street analyst and featured columnist with TheStreet.com, he currently writes for CFA Magazine.
Before the pandemic, auto sales were booming, mostly because car loans were available to pretty much anyone with a driver’s license and a heartbeat. “Subprime” auto loans – which charge high interest rates and run for up to eight years (hence the nickname “car mortgage”) — accounted for about 20% of a $1 trillion+ market.