The timing couldn't be worse for American families. 
    Total household debt has hit a record $18.39 trillion,
    and Americans now spend about 11% of their income
    just on debt payments

In 2018 our household started to exit a decade of hard poverty. FF to now and we have some savings and no debt. The other natural outcome of saving-to-buy (now that we can afford to do that) was zero credit ratings for the 6 of us.

Archive link doesn’t work for Barron’s.

For anyone not yet in the know apparently a subprime auto loan company suddenly went bankrupt early last month amid accusations of fraud

Alt link with related news: https://moneywise.com/loans/auto-loans/tricolor-subprime-aut...

> Bloomberg estimates the subprime auto market to be worth $80 billion to investors. (2)

It's not going to put the big banks out of business. Maybe it will hurt their profits somewhat.

There's no way around this paywall, so posting TFA is against HN rules and should be flagged. Otherwise ~99% of comments will be discussing the title, not the article.

https://news.ycombinator.com/newsfaq.html