Close Menu
amed postamed post
  • News
  • World
  • Life & Style
  • Sport
  • Entertainment
  • Health
  • Tech
  • Travel
  • Contact
What's Hot

John Wayne movie set feud ‘led to She Wore a Yellow Ribbon's most iconic scene’

October 23, 2025

Elderly woman knocked over and told ‘go f*** yourself’ by yob on bike | UK | News

October 23, 2025

Putin rages at Trump's sanctions but warns 'Russia will not cave'

October 23, 2025
Facebook X (Twitter) Instagram
Trending
  • John Wayne movie set feud ‘led to She Wore a Yellow Ribbon's most iconic scene’
  • Elderly woman knocked over and told ‘go f*** yourself’ by yob on bike | UK | News
  • Putin rages at Trump's sanctions but warns 'Russia will not cave'
  • The 7 best Roald Dahl adaptations – Matilda only at number 3
  • Covid vaccine found to fight two types of cancer in landmark new study | Science | News
  • Andy Robertson’s thoughts on Florian Wirtz flak as Liverpool star takes flak | Football | Sport
  • Top-rated Halloween movie branded 'horror classic' is streaming free
  • Argos issues urgent product recall over 'electric shock' risk – 'Stop using now!'
  • News
  • World
  • Life & Style
  • Sport
  • Entertainment
  • Health
  • Tech
  • Travel
  • Contact
Facebook X (Twitter) Instagram
amed postamed post
Subscribe
Thursday, October 23
  • News
  • World
  • Life & Style
  • Sport
  • Entertainment
  • Health
  • Tech
  • Travel
  • Contact
amed postamed post
Home»World

Experts alarmed at crisis ‘bigger than Great Recession’ in US economy | Politics | News

amedpostBy amedpostOctober 23, 2025 World No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Earlier this year President Donald Trump claimed that he had “defeated” inflation and that the US economy was getting back to normal.

However, as much as Trump may like to claim this, the truth is the opposite as Americans complain about price rises and a new financial crisis looms fast on the horizon.

In the past century, the United States has had to deal with several major financial crises including the 2008 financial crash and Great Recession, 1987’s Black Monday, and the Great Depression of the late 1920s and early 1930s.

Experts are now warning there is another crisis coming for US economy. The crisis concerns the car lending market and rising number of car repossessions in the United States as Americans default on the car finance payments, an issue affecting millions of Americans and setting alarm bells ringing on Wall Street.

In a statement to ReachPlc, Ignas Ryla, head of B2B Sales at used car parts firm Ovoko, warned: “Auto loan delinquencies have reached alarming levels, with overall 60+ day delinquency rates at 1.38% in Q1 2025, exceeding the 1.33% peak in 2009, and subprime delinquencies hitting a record 6.6%.

“1.73 million vehicles were repossessed in 2024, the highest number since the 2008 financial crisis, and Americans now owe $1.66 trillion (£1.24tn) in auto debt, with trends looking alarmingly similar to those before the Great Recession.

“The recent collapses of Tricolor and First Brands have exposed fraud and reckless lending, with major banks, including JP Morgan Chase and Fifth Third, set to lose hundreds of millions of dollars.

“The average new car price has topped $50,000 (£37,843) for the first time, 20% of newly originated car notes are over $1,000 (£749) monthly, and Gen Zers have the highest delinquency rate at 7.5%.”

These concerns have been echoed by Carl Hazeley, CEO of financial information platform Finimize, who said that the problem was reaching Great Recession levels of magnitude and warned we could be seeing the start of a “cascading” effect on the US economy.

Carl said: “Car finance defaults are worth watching closely. Auto loan delinquencies are approaching Great Recession levels, with nearly 5% of loans currently delinquent and subprime delinquencies at 6.43%.

“What makes this particularly concerning is the cascade effect. Losing access to a car can mean losing your job, your ability to get your kids to school, or access to healthcare.

“And right now, Americans are being rejected for auto loans at the highest rates since 2013, with expected rejection rates at 33.5%.The warning signs are there in the data.”

However, car finance payments and defaults aren’t the only economy issues setting alarm bells ringing on Wall Street as Trump’s escalating war with China threatens to destabilise the US and global economies as he threatens to impose more tariffs, reports the Telegraph.

The hope is that a compromise can be reached between Trump and Chinese premier Xi Jinping at the Asia-Pacific Economic Cooperation summit in South Korea next week.

Keep Reading

Putin rages at Trump's sanctions but warns 'Russia will not cave'

Russia on the brink as China halts Kremlin oil imports after Trump sanctions | World | News

Insane moment dad punches teacher 9 times after telling pupil to put the phone away | World | News

Parents from hell hold down baby to tattoo its arm for sickening TikTok competition | World | News

WW3 fears erupt as general expects Russia’s ‘violent test’ in 4 years | World | News

EU plans to spend 1billion euros doing up its own offices leaked | World | News

Add A Comment
Leave A Reply Cancel Reply

Editors Picks

'I am obsessed with Netflix and here are my top five picks for this month'

July 8, 2025

Cyndi Lauper picks 1904 classic as her favourite song ever

May 21, 2025

PS Plus April 2025 Extra games predictions – Last of Us Part 2 among the top picks

April 7, 2025

Review: Record Shares of Voters Turned Out for 2020 election

January 11, 2021
Latest Posts

Queen Elizabeth the Last! Monarchy Faces Fresh Demand to be Axed

January 20, 2021

Marquez Explains Lack of Confidence During Qatar GP Race

January 15, 2021

Young Teen Sucker-punches Opponent During Basketball Game

January 15, 2021

Subscribe to News

Get the latest sports news from NewsSite about world, sports and politics.

Advertisement

info@amedpost.com

Facebook X (Twitter) Instagram Pinterest YouTube

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook X (Twitter) Instagram Pinterest
  • News
  • World
  • Life & Style
  • Sport
  • Entertainment
  • Health
  • Tech
  • Travel
  • Contact
© 2025 The Amed Post

Type above and press Enter to search. Press Esc to cancel.