Comment by sofixa
16 days ago
> You can look at basically any material metric you like (cars owned, house size, etc.) and Americans come out ahead
Rate of personal bankruptcies? Homeownership rate? Median household net wealth?
The amount of cars Americans have on absurd loans is entirely irrelevant to their personal wealth or lack thereof.
> The amount of cars Americans have on absurd loans is entirely irrelevant to their personal wealth or lack thereof.
The allocation of debt is essentially irrelevant - there are materially more, bigger, better cars per capita in the USA. Whether those cars get repo'd and transferred to richer Americans is irrelevant - you can't fake the material presence of more stuff.