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Not the personal sub;
the private American car. Americans owe $1.66 trillion in auto debt. Delinquencies just hit levels not seen since the Great Financial Crisis. Nearly 30% of all trade-ins are underwater. Average amount owed: $7,000 more than their cars are worth.
Auto loans are now a bigger consumer debt category than student loans (8.9%) and significantly larger than credit cards (6.6%).
So is that shiny late model vehicle a blessing, or a curse?
Better a poor and wise youth Than an old and foolish king who will be admonished no more. Ecclesiastes 4:13
Question:
Or what king, going to make war against another king, does not sit down first and consider whether he is able with ten thousand to meet him who comes against him with twenty thousand? Luke14:31
Answer:
A king who watches too much FOX TV, reads too many Marvel comics, pays attention to the New York Times, and watches too many Hollywood political thrillers.
The narrow strait is the most important chokepoint for the world's oil supply. Some 21 million barrels — or $1.2 billion worth of oil — pass through the strait every day.
Will a closed Strait hurt Iran? In terms of international oil sales, yes, but in terms of daily life, no. Iran pumps 3.5 million barrels of crude oil per day. The situation at this hour:
