Send us Fan Mail Stocks hit records and gold surges, but we can’t shake the feeling that the real economy is cracking underneath. We start with the two-tier U.S. economy and a harsh leading indicator: auto loan delinquency. When people fall behind on car payments and repossessions rise, it’s often a sign that rent, credit cards, and everything else are already under strain, especially for households making under $100,000. If consumer spending is increasingly carried by the top 10%, even a sma...