There’s a notion that if you want to gauge the future of the economy, just look at default rates for auto loans. When times are good, autos are one item that people typically load up on. As the video points out, the pandemic “stimulus” packages had a whole lot to do with stoking unusually brisk demand for autos that people happily overpaid for. Now they are handing those autos back to the creditors in alarming numbers.
Video at link.
Another leading economic indicator is also flashing red: Walmart Plunges After Slashing Profit Outlook, Blames Fuel/Food Costs.