- the source for market opinions


February 17, 2024 | Too Many Payments, Too Little Income

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel ( Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog:

In the fourth quarter of 2023, 7.7% of US auto loans transitioned to delinquency on an annualized basis (New York Fed data)—the highest rate in 13 years. The total annual cost of owning a new car, including expenses such as gas and insurance, climbed to $12,182 in 2023, up from $10,728 in 2022 (latest estimates from AAA). See The Cost of Car Ownership is Getting Painful.

At the same time, the second-largest global economy is stumbling under similar trends. The segment below starts with a focus on mounting stress for Chinese auto owners and broadens to larger themes: “…consumption is weak, and people have no money.”

Here is a direct video link. 


STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the Weekly Recap.

February 17th, 2024

Posted In: Juggling Dynamite

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site


This site uses Akismet to reduce spam. Learn how your comment data is processed.