After nearly a decade of being able to borrow money for next to nothing, interest rates are finally beginning to creep higher. Even the relatively small increases seen so far have caused problems in the previously booming automobile industry. The size of the auto loan market has ballooned to a historic 1.1 trillion dollars, and subprime lending has once again become the norm. Teaser offers that allow people to get cars with zero money down and 84-month financing have fueled a wave of irresponsible spending. Americans' tendency to associate success with having nice things has driven many people who can't afford to buy a house to get the next best thing — a brand new car. April 13
This report comes to us just after Mercury stationed retrograde on April 9. A chart for the mundane event at Washington DC has the Jupiter-Pluto-Uranus T-square on the angles. Uranus-Pluto is about all kinds of collapses while Jupiter narrows it down to financial bankruptcies mostly due to overextension. As it stations to go retrograde Mercury [4ta] is conjunct the asteroid Phaethon [9ta] (1) so that our attention is drawn to cars and we think of bankruptcies linked to car loans!