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Author: WatchingTheHerd Big red star, 1000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 465026  
Subject: Re: METAR FAQs, with new links Date: 9/21/2008 6:08 PM
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$2.6 trillion in credit card debt in the United States and $2.7 trillion in vehicle loans. Average maturity on US auto loan has swelled to 67.2 months, more than five years, and the average American only has 4% equity in their wheels if they have a car loan on it.


Wow. $2.7 trillion dollars in loans for vehicles. That may be the single best indicator of how poorly the country plans its financial health. Taking $2.7 trillion out for assets with a 7-10 year life where 40 percent of the original "value" is pure marketing fluff. Think of the college educations and research those dollars could have supported to help improve long term productivity.

Staggering. Enjoy those cup holders and rear-seat DVD systems, America. You may be living in that car shortly...

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