And It's MUCH Worse than the Subprime Housing Bubble

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The next subprime bubble is about to burst as subprime auto loan delinquencies are surging which is threatening to turn into a financial crisis that will topple small and mid-sized banks. According to Jeff Snider, the employment situation is only going to get worse. And our preview of the CPI June CPI report suggests that consumer prices are headed lower.

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About the Author: Steven Van Metre


  1. Setting aside funds for investments is a smart way toprepare for unexpected. I'm an advocate of a diverse investments, been into this experience since 2015 and have acquired over 3M dollars. The key is Always auto-DCA

  2. I have 5 cars because I have a 6 person household and we all drive. I paid cash for all of them (choosing the car according to its price that I could afford) rather than getting what I or others in my household wanted or thought we "deserved". The last car I bought was a 10 year old truck with 100k miles. Any moron that is strapped after getting 1000 dollar car payments deserves what they get.

  3. I SMELL A SHORT SQUEEZE IN THE MARKET. Now retail investors believe the market will keep going down. They go Short. The big money gonna SQUEEZE those brainless to get their money!!!

  4. When big banks wrecked the housing market, they were rewarded with free money from the government. Now it's the small-mid sized banks turn to take free-for-them tax $$$. Only the poor and middle class are held accountable for anything for the most part. Money buys politicians, politicians heavily favor those who dumped money into their pockets as 'donations'. A Princeton study proved that politicians do the bidding of the wealthy while completely ignoring 90% of Americans.

  5. good news steven…good news…this market needs to be destroyed asap….so a new bull market may begin….

  6. NOTHING the U.S. Government Touches ever turns out well for the U.S. Citizens. And, NOTHING is Ever Free! Stimulus Money and Benefits are coming back to Bite many who received them.

  7. Steve thank you for your warnings and insights of this economic kaos. I have been a regular listener for about a year now and I have prepared paying off my cars and cc. And even prepared a cool bugout sleeper van and electric gem car to boot. I also decided not to retire, due to volatile issues of the banks and pensions and also for my job perk of free gas. At this time stocking Guns, cash & gas getting the family ready for a possible mad max scenario because of this demented puppet in the WH controlled by the WEF elite tyrants. Prayers for your family and families in need.

  8. It's all very simple, the system of Fiat currencies are breaking down as they always do.
    So the only sensible thing to do is?
    But most will not do it

    Change your fiat currencies for money which is and has been for 6000 yrs silver, and 5000 years Gold. Become your own central Bank 🏦

  9. The stock market was in a bubble. It has to come down. It has to come down. We printed $6T, that money HAS to be pulled from the market to stop inflation. Maybe not all of it but I would say more than half. You do this by increasing interest rates and quantitative tightening. Inflation is the single worst thing for the economy. It is worse that a stock market crash, it is worse than a recession, it is worse than a housing market crash. It is an economy killer. It has to be stopped before we sort out the rest. Powell's problem is he is late to the party and is still moving too slowly.

  10. Hi Steve, aren't your informative videos knocking on the door of the fact that we (being the capitalistic / central bank / FED world) are in a debt bubble that cannot be reversed but rather has to constantly be re-inflated at any and all costs? Thereby explaining all of this crazy behavior and also helping us understand that even crazier re-inflation measures are coming down the road in order to keep the whole thing from freezing up?

  11. This will never be the big crisis. We have shortage of cars, all repossessed cars will find new buyers quickly, and who cares if banks providing loans were too greedy. They already trade at 5P/E, market has already priced that they will have unexpected losses from somewhere, so it is cars, possibly. Also the guys providing online loans will see the increase in defaults, but all of these are small peanuts in value, compared to housing market. The fed could blow up the housing market by pushing the interest rates too high, but well see how that plays out.

  12. Big fan of Steve’s and I’ve been a subscriber since before the 2020 pandemic downturn but this is an example of the effects of the game of “telephone” (and it’s not only Steve’s fault in this case but the other intermediaries here). In addition to being a financial analyst I’m also an automobile enthusiast and have been following Lucky Lopez (previously known on YT as ‘Automotive Life’) since late 2021. Lucky Lopez did NOT say that LTVs are ‘at 140%’ now, he said that he has seen them “as high as 140% in some cases,” the “80% higher” claim is extremely unclear as all that Lucky said previously was that the norm is for automobile LTV to be below 100%, his explanation was NOT the one that Steve gave here regarding negative equity from a prior car but that borrowers have been tacking on extra money to pay for aftermarket warranties etc….

  13. You can't fix stupid…….you have to be completely Retarded to pay a 1K car note…..and they are probably pay this for 80 months……LOLOLOLOL!

  14. I didn't know that auto loan companies and banks could add previous debt to a new loan. !!!!!!!!
    Too bad home mortgages couldn't do that, or do they?
    These days I wouldn't doubt anything! Up is down and down is up.

  15. Don’t fight the fed my good friends.😂😂😂

    Sebastopol, CA Housing Prices Crater 18% YOY As Sonoma County Homeowners Get Barbecued

  16. Hey Steve can you or Jeff cover the fed balance sheet on one of your next shows … Looks like they are way behind and had to buy a bunch of assets in June to stop a 5 day down trend. Maybe my math is wrong or my data source but looks fishy compared to what was announced on QT

  17. Subprime should be treated like a Ponzi scheme!
    These bank cartels learned nothing from 2008.
    They were bailed then and the criminals will want the Fed to bail them out again…at our expense.

  18. food and energy will continue rising along with most commodities. Everything else (especially stuff that was purchased with credit and a saw significant rise like real estate, stocks, crypto) will continuously collapse.

  19. This is not just a US phenomenon. It’s global. So think the US sub prime crisis. But exponentially worse. For we are about to see something we may never have experienced before. A truly global recession. One in which all economies. Large and small. Go into a serious recession. Even the Swiss will experience a serious fall off. And I am not sure they have ever had that before.

    So where to invest one’s funds. The answer nowhere. For China is imploding. And they are the ones who had the heft to bail us out of our homegrown sub prime mess. But not this time around. Even if they wanted to. They can’t. For they have inherited our fondness for shady financial dealings off the book. A shadow banking and financial system. Whose losses can no longer be hidden.

    I believe the term used to describe what we are all waiting for is a reckoning. For over extending ourselves materially. We just bought way more stuff than we know what to do with. At rates that were unsustainable. And unaffordable for the vast majority of their consumers. One cannot count on the top one percent to keep an economy expanding. Indefinitely.

    We just failed to do the math. I guess we were just too happy. For doing math usually gives most people a headache. And who wants that?

  20. Dude can literally do a video and think, loans for cars greater than loans for homes… sounds about right. WHAT A JOKE! Thats WITH 20 years in the finance industry….none of those years are ringing common sense bells evidently.

  21. This issue is going to be a long term one. With a very large amount of dealers adding “market adjusted value” markups on many vehicles people are paying sometimes up to 30-50% more than msrp on vehicles. The actual and insurance value of the vehicle is not increased but the amount paid is. When the vehicles are traded or sold they will forever be underwater and either roll the deficiency into a new loan or take a huge financial hit.

  22. 14 bil…50 bucks per person is gonna be worse than the 2008 crisis, this dude is a joke. zero common sense. literally can make an entire video without 50 bucks per person w/o entering his brain.

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