Automotive repossessions reportedly jumped last year to the highest level in 15 years. The last time car repossessions were at this level was in 2009, when the country was dealing with the fallout from the previous year's financial crisis, the report added. As Bloomberg notes, these numbers are another sign that Americans are having trouble staying on top of their monthly bills due to steep interest rates and higher car prices. The number of subprime borrowers who were at least 60 days late on their loans climbed to 6.56% in January, the most on record, Bloomberg added, citing Fitch Ratings. Meanwhile, purchasing a car has become more costly, with Cox data showing that the average vehicle loan rate rose by five basis points to 10.16% in February, the highest in four months, with the average monthly car payment coming to $748. read more
As the trade war between the United States and Canada continues and fears of detention at the U.S. border mount, Canadians are channeling their sentiments through their wallets and choosing to travel elsewhere. According to aviation data firm OAG, airline bookings from Canada to the U.S. have collapsed in recent months. "Using forward booking data from a major GDS supplier, we've compared the total bookings held at this point last year with those recorded this week for the upcoming summer season. The decline is striking -- bookings are down by over 70% in every month through to the end of September," a statement from the firm said. "This sharp drop suggests that travelers are holding off on making reservations, likely due to ongoing uncertainty surrounding the broader trade dispute." read more
[...] idiot.
A Tesla Cybertruck took an accidental swim in the Ventura Harbor on Monday, prompting a multi-agency response to carefully retrieve the electric vehicle from the water without sparking a toxic battery fire. Tesla founder Elon Musk tweeted in 2022 that the Cybertruck "will be waterproof enough to serve briefly as a boat, so it can cross rivers, lakes & even seas that aren't too choppy." This truck, however, quickly sank in 8 feet of water, said Carson Shevitz, captain of TowBoatUS Ventura, who helped coordinate the rescue. Ventura Port District Harbor Patrol officers spotted the truck bobbing by the boat launch ramp shortly before 11 a.m. , Shevitz said. The driver told Shevitz that he meant to put the vehicle in drive after launching a Jet Ski but accidentally threw it in reverse, causing it to slide down the ramp and into the water.
A new strain of a highly pathogenic bird flu known as H7N9 has surfaced at a poultry farm in Mississippi where chickens are raised for breeding. read more
Look up Smoot-Hawley and see how that turned out. Dumbass.