U.S. Consumers Are Collapsing: Cars, Credit, & the Chaos Ahead | The Weekly Wrap

In this episode of The Weekly Wrap, Steve Eisman interviews Lakshmi Ganapathi of Unicus Research about the health of the U.S. consumer and the auto sector. Lakshmi argues that consumers are "broke" and that hidden inflation, the resumption of student loan payments, and the end of stimulus checks are putting immense pressure on them. They discuss the auto market, where dealerships are struggling with excess inventory and consumers are increasingly unable to afford new or newer used cars. Lakshmi predicts further deterioration in the auto sector, credit cards, and buy now, pay later services, and warns about the dangers of meme stocks, using Opendoor as an example of a company with a flawed business model being artificially inflated by social media hype. She expresses concern that retail investors, lured by get-rich-quick schemes, are particularly vulnerable in the current economic climate.