Are We On The Verge Of The 2008 Economic Crisis Repeating Itself?

By Timothy D. Naegele[1]

Car repossessions in the United States are reaching levels that have not been seen since the 2008 economic crisis, or the "Panic of 2008."[2] It is projected that more than three million cars could be repossessed in 2025. This would be the highest number since the financial crisis. Millions of Americans are at risk of losing their cars as they struggle to keep up with their payments.[3]

For seniors who depend on their Social Security retirement benefits, the cost of living increase will be paltry; and it will not go into effect until January of next year. Those who depend on Section 8 for their housing needs may find that they cease to exist. 1.4 million of the nation’s poorest renters risk losing their homes.[4] Put bluntly, most Americans have no idea with respect to what is coming; and it may be tragic.

Why are we involved in foreign wars that cost billions if not trillions, and put us at risk of global confrontations that may be mind-boggling?[5] Donald Trump vowed to keep us out of foreign wars, instead of launching us into seemingly endless and costly risk taking, which might prove fatal.

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[1] Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). See, e.g., Timothy D. Naegele Resume-21-8-6 and https://naegeleknol.wordpress.com/accomplishments/ He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army during the Vietnam War, assigned to the Defense Intelligence Agency at The Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., https://naegeleblog.wordpress.com/articles/ and https://naegeleknol.wordpress.com/articles/), and studied photography with Ansel Adams. He can be contacted directly at [email protected]

[2] See, e.g., https://en.wikipedia.org/wiki/2008_financial_crisis ("2008 financial crisis")

[3] See https://www.dailymail.co.uk/yourmoney/article-15216805/car-repossessions-fastest-rate-2008-economy-cracking.html ("Car repossession trend shows chilling echo of 2008 crisis as economists warn of more dominoes to fall")

[4] See https://naegeleblog.wordpress.com/2025/07/19/is-trump-killing-americas-homeless/ ("Is Trump Killing The Homeless?")

[5] See, e.g., https://naegeleblog.wordpress.com/2025/10/16/the-lull-before-the-storm-in-israel/ ("The Lull Before The Storm In Israel") and https://naegeleblog.wordpress.com/2025/10/18/drones-and-ai-are-the-cornerstones-of-future-warfare/ ("Drones And AI Are The Cornerstones Of Future Warfare")