US car repossessions surge as more Americans default on auto loans

Post by seanmcdirmid » Sat, Oct 18, 2025, 2:56 AM UTC

cogman10 wrote: post #100

mgh95 wrote: post #70

Earlier quoted context omitted.

> The value of the dollar has already plummeted, 10% or so this year. Compared to what? From Nov 3, 2024: the USD against: GBP (3)% JPY (1.7)% EUR (6.7)% INR 4.6% AUD 1.3% CAD .74% RMB .4% The EUR (if that is what you are going by) is unusually strong, and that's actually starting to cause issues. But the dollar isn't "collapsing".

The BRL or CNY is probably one of the most apt comparison given the BRICKS alliance. That's where you are seeing the roughly 10% swing since Jan. (if you go back to last Oct the swing is less pronounced. IDK exactly what was happening last Oct, but there appears to have been an upswing in dollar value from Oct to Jan and a steady decrease of the dollar value since.)

Post by mgh95 » Sat, Oct 18, 2025, 3:44 AM UTC

Sammi wrote: post #192

mgh95 wrote: post #190

Earlier quoted context omitted.

The dixie is weighted heavily towards the Euro (~58% weight). The euro is enough to move the index independently of other movers.

Is the euro weighted at 58% for a reason?

Post by mgh95 » Sat, Oct 18, 2025, 4:03 AM UTC

jltsiren wrote: post #158

mgh95 wrote: post #140

Earlier quoted context omitted.

> I don't see any evidence that EUR is particularly strong against USD. Except maybe if you take a very short-term perspective. Yes; this is a short term perspective. Europe is functionally an export market and these currency fluctuations hurt badly. For example, Mercedes-Benz had a consolidated profit margin in '22 of around 9%. These swings do either force loss of jobs (bad) or require a devaluation of the currency…

Europe was also an export market in the past. Back in early 2002, 1 EUR was worth less than 0.9 USD. Then it started climbing rapidly and reached a peak of 1.6 USD in mid-2008. The value of money is inherently unpredictable. The exchange rate between EUR and USD has never been stable longer than about 1.5 years. Something unexpected always happens, and then the rate goes up or down by 10% or even more. You either tol…

Post by watwut » Sat, Oct 18, 2025, 8:22 AM UTC

epistasis wrote: post #124

mgh95 wrote: post #106

Earlier quoted context omitted.

In October of last year, people were betting on Trumps election leading to tariffs leading to a stronger dollar. This trend continued post-election pre-inaguration. Since the tariffs did not materialize to the level expected, the dollar weakened to its levels prior to his election.

Your explanation makes no sense. First, nobody thought that Trump would actually go through with the tariffs because it's an insane plan and that wiser people in the administration would restrain Trump. So the dollar started to devalue when people realized that "holy shit these tariffs might actually happen." The tariffs are way way bigger than anybody expected. The entire goal of the tariffs were to weaken the dolla…

Post by watwut » Sat, Oct 18, 2025, 8:30 AM UTC

potato3732842 wrote: post #141

watwut wrote: post #129

Earlier quoted context omitted.

Isn't America literally the country with longest average and median commutes to work? Like, that was always an American thing - the long commute. Also, you cant do work in car either. You have to drive and actually pay attention. You cant (or should not) just listen to podcast or loosing yourself in the music. You dont get health benefits of walking a bit or of popping int the store on the way to buy food quickly. My…

>America literally the country with longest average and median commutes to work? Like, that was always an American thing - the long commute. Miles? probably. Time, lower than a lot of europe IIRC.