Repos: The magic is back

Uncle Sam has stopped lending a helping hand and now repo men are back in business. Repos for the first half of 2024 are up 23% from a year ago. Higher-for-longer interest rates mean new car loans average 7.3% and used car loans average 11.5% putting stress on consumer pocketbooks. However, Claire Ballentine wrote in Bloomberg of something all too familiar.

Let’s have State Appreciation Day!

“Realism requires we recognize that the ruling classes and the US government have no durable community and no internal integrity. The state is a pirate gang writ large. It is unified by criminal circumstance, functions by fear and tribute, and is surrounded by enemies who would see it stripped, drawn and quartered at first opportunity. It’s almost enough to make one pity the state and mourn the ruling classes!” — Karen Kwiatkowski