Per this link, more and more Americans are 60 days behind on their cars, a depreciating asset that is losing value at the same time.
Americans, are literally building themselves into a debt implosion of financial servitude. Auto-dependency and relying on a massive industry – which too often requires bail outs in the billions and billions of dollars – to support a debt based economy with an asset depreciating product (the cars) is economically suicidal on a vast scale. It is ensuring that everything from quality of life, to tax revenues, is sure to continue to decrease.
Meanwhile the US has built our entire system around a debt based fiat currency with depreciating assets everywhere, with the vast majority of people not building any kind of personal wealth, let alone generational wealth.
Are there any efforts to curb this? We shouldn’t be building our society around something that ensures economic self-destruction and servitude for so many in society. The car mythically is touted as a freedom machine, but it’s really anything but.
Obviously people that have been watching this suburban, auto-dependent, economic suicide of suburbia and auto-dependent areas of the United States know this is happening. But we’ve continued to be suckered into suburbia and auto-dependency as a nation. The losses are staggering, and the destruction of personal wealth and generational wealth is almost total for most Americans.
For more details on the absolute economic suicide of “suburbs” and “auto-dependency” here are a few great videos – that are rather entertaining – that explain the situation;
- The Suburbs Are Bleeding America Dry
- The Truth About American Cities
- How Suburban Development Makes American Cities Poorer
- Why American Cities are Broke – The Growth Ponzi Scheme
- How Bankrupt American Cities Stay Alive
If you want clued into how markets are going to implode, how American society must rebuild itself, and what is coming in the coming years and decades in the United States – these are MUST WATCH videos. They explain it better than I have ever managed to. More on this economic suicide in future posts, but for now, WATCH THE VIDEOS!