-19% of loans >$1k a month (up 17% YoY)
-74% of those >$1k monthly loans are for non-luxury makes, particularly full-size pickup trucks.
-Average monthly payment now $770.
-Both 30- and 60-day delinquencies up. 

h/t bsky

> particularly full-size pickup trucks.

Those ARE luxury makes.

> delinquencies up

I meant to post and article on that - delinquencies are up AND savings rate fell below 2.6% for the third time in 60 years. The other two times you ask?
 - 2008
 - 2022 when all the Covid restrictions lifted and the Covid subsidies ended

What does a dropping savings rate mean? According to Scott Bessent, it means that people are so positive about the future and so optimistic, they feel free to spend, knowing that the money is going to just keep pouring into their accounts.

He didn't use exactly that language, but he did assert that low savings might just mean people are feeling really good and spending freely as a result.

My feeling is that Scott Bessent doesn't know Debbie.