(Part 4 of 5) News and my thoughts from the past week (08Dec25)
News and my thoughts from the past week (08Dec25)
The richest 10% of Americans hold two-thirds of household wealth, according to the Federal Reserve, averaging $8.1 million each. The bottom 50% hold 3% of wealth, with an average of just $60,000 to their names. - Unusual Whales
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“Goldman Is Pitching a Risky $500 Million Deal to Finance Shareholder Payout” Another PIK play. Bloomberg reports Goldman Sachs is pitching private credit lenders a risky $500 million payment-in-kind note for a Canadian firm it owns. Bloomberg says Goldman wants to borrow $500M with a “pay later” loan so it can pull the cash out as profit for itself. The company gets stuck with more debt. - Bloomberg
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Car repossessions are on track to hit 3 million in 2025, matching Great Recession levels and making it the third-worst year on record. Q2 alone saw 706,393 repossessions, the largest Q2 volume ever recorded. Auto loan delinquencies are at their highest since 2010, with subprime rates at the worst since 1994.
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‘The Big Short’ investor Michael Burry says a major market crash is coming.
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US margin debt spiked +45.2% YoY, to a record $1.18 TRILLION in October 2025. In the past, such an aggressive rise has been seen before major market tops. - X user Global Markets Investor
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Buy Now, Pay Later usage surged this Black Friday, rising 9% overall, with adoption especially strong among younger consumers: 41% of shoppers aged 16–24 used BNPL, and younger millennials increased their usage by an astonishing 87% compared with last year. Higher-income households are leaning in as well, with 38% of those earning over $100,000 using BNPL services. Notably, the trend is expanding beyond discretionary items — 25% of BNPL users are now relying on it to finance groceries, per Reuters
More than 2.2 million vehicles have already been repossessed this year, with the total expected to exceed 3 million by the end of 2025. - CBS News
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