Today’s Headlines

  • Wall Street’s Worried About the Increasing Rate of Auto Loan Defaults (Business Insider)
  • Driverless Ubers Already Back on the Streets of San Francisco After Arizona Crash Last Weekend (SFist)
  • Brilliant Swedish Bus Ad Pokes Fun at the Hype Over Self-Driving Cars (The Verge)
  • Seattle’s Pronto Bike Share Shuts Down Tomorrow (Seattle Times)
  • Passenger Rail in Florida Prevails Over Legislative Attack (Palm Beach Post)
  • Comparing Population Density in World Cities to Columbus, Ohio (Sparefoot.com)
  • Philly Police Officer Uses Bike to Take a Swing at Anti-Trump Protester (New York Post)
  • Michel S

    It stands to reason that if you force people who cannot afford a car to live in an environment where, in order to participate in the local economy, car ownership is a foregone conclusion, you’re going to have a high rate of default on auto loans. You’re also going to have high incidence of predatory behavior on the part of banks and lenders taking advantage of people who are left with few alternatives. The last half-century of social and environmental engineering around private home ownership and near-exclusive transportation by personal automobile has generated nothing but crippling debt and staggering inefficiencies. We’ve already suffered one recession because of this reckless pattern of behavior; a recession due to auto-loan defaults would just be Act II of the same foul drama.