Totally, however, to play devil's advocate of that... There is only so much inventory that these companies can hold. It's similar situation to house price crashes. Banks are left with too much stock.
However, with property, banks can rent them out.... Maybe we will see a huge industry of second hand rent-from-large-corporation-and-never-own-anythings popping up soon...
If you remember 2008, it wasn't the bank execs that were burned, it wasn't even really the bank employees that were burned (although some did lose their jobs)
It was everyday people that lost their homes, their jobs, their lives.
I'm all for a bit if chaos in the name of redistributing wealth, or resetting some madness that has worked it's way into society, but I don't think this is it
Buying (financing) a new car, and then having it repossessed at half the purchased value (still 50%) debt to pay
If people have cars repossessed en mass, the second hand car market will be affected, prices for used cars go down (because the supply goes up). This makes repossessions not cover the whole loan, see above point
Finally, as more and more Americans no longer have access to cars, they also lose access to... A lot of society (work, education, healthcare). If this affects a large enough percent of the population, there will be macro effects.
At birth babies should be working 5 jobs to pull themselves up by their bootstraps. No more handouts from mummy milkers! Bring back mandetory conscription for newborns! The market will provide, this toddler was homeless because the government is too large, and there is too much regulation!
100usd off of store purchases are nothing. I am just imagining they have postponed their 100usd off black Friday deal for another 6 months to justify this 'payment'
I've added the url, thanks