Subprime Auto Bubble Bursts As "Buyers Are Suddenly Missing From Showrooms"

Speaking of housing, seems to me that those prices are really outlandish. Given modern materials and manufacturing, I can't help but feel that housing prices are inflated by speculation and an investment mentality that places home ownership out of the reach of many when it need not be so. The way it is now, it's financiers who benefit the most.

 

So you actually believe that if the USPS suffers losses, those losses are simply "replenished" using taxpayer money?

Wow!

I must say i should probably withdraw my claim that you were dishonest. You're just ignorant!

Not to mention unbelievably lazy. I mean... did you even bother to read the articles that you yourself submitted? Or is reading anything other than the headline also beyond your capabilities?

No... the USPS might take a "loan". If you can call the government giving itself money a "loan". But this "loan" is paid back with interest.

And you still haven't explained what all of this has to do with the topic you jumped into with, apparently, nothing to contribute.

 

Of course I read them.

Tell us where the money comes from to keep the USPS solvent.

Labor alone, which is directly paid for by the taxpayer, by ITSELF is 20 Billion dollars.

Are the taxpayers paying for UPS and FEDEX employees? No?

 

I just want to buy a good old reliable car from the past, no fancy computer stuff in it

 

I would not mind if the USPS became a place I go to pick up packages, too much theft anymore

 

Oh... please! Taxpayers are not paying USPS labor. The USPS pays it's own workers every single penny they earn and their benefits.

You say you read the articles. If we are to believe that then we must conclude that you just didn't understand them.

 

yep, Obama put us on a upward trend, but bound to be a few bumps along the way

the tax cuts for the rich and tarrifs should help consumers long term though, but going to hurt taking our hands out of Pandora's Box

 

Pretty had for millions to afford a car with the economy Obama created.



The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.

In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.

“Fast food is driving the bulk of the job growth at the low end — the job gains there are absolutely phenomenal,” said Michael Evangelist, the report’s author. “If this is the reality — if these jobs are here to stay and are going to be making up a considerable part of the economy — the question is, how do we make them better?”

The report shows that total employment has finally surpassed its pre-recession level. “The good news is we’re back to zero,” Mr. Evangelist said.

But job losses and gains have been skewed. Higher-wage industries — like accounting and legal work — shed 3.6 million positions during the recession and have added only 2.6 million positions during the recovery. But lower-wage industries lost two million jobs, then added 3.8 million.
HTTPS://www.nytimes.com/…/recovery-has-created-far-more-low…

 

I understand that no company could operate with a $15 billion loss every year unless the government funded them.

Is that too hard to grasp?

 

The more recent cars have capabilities of being hacked or being surveilled. They are approaching "black box" type stuff used in aircraft.

Steve

 

Their pension liablilites are greatly reduced since the Obama Asministration forced the unions to take big benefit and wage cuts as part of the package of bailout money in order to keep GM and Chrysler alive.

And Detroit has been addicted to trucks and SUV's for about twenty years now.

And they are still coming off record sales.

I don't know what your point is. If we had left things up to you right wingers in 2009, there would be no big three, and we would have had a major depression, centered largely in the Mid West.

 

BS. If Obama had done NOTHING the economy would have improved better than it did when he introduced Obamacare and greater uncertainty about the future.

Steve

 

That doesn't stop corruption. See Louisiana for example.

 

Or the Trump Administration, which history will eventually record as being corrupt on the level of the Second Grant Administration.

 

If you say so. Whatever gets you to acknowledge the reality that if corps made of people are bad, .govs made of people are not intrinsically better and the differing powers of the corp v the .gov makes the .gov FAR more dangerous.

 

Why is it that right wingers believe that the corporation, which answers to no one but the owners, is less dangerous that a government that answers to voters and courts.

I see this constantly.

Right wingers yell "fauxcahantas" at Elizabeth Warren, and then cheer as the Trump Administration dismantles regulations that ended payday loans, preying on student loan, and gotcha sub prime mortgages. How that kind of stupidity benefits them is beyond understaning.

We heard it in the health care debate. Right wingers after right winger dismissed the idea of government managed health care, where you WOULD actually have a voice over what gets covered and how health care is managed. Instead, the defended a system in which they have no real choice, other than the one their employer makes for them, and no say in how their health care is managed because they have given that job to an insurance company that doesn't answer to anyone.

As for corruption in the Trump Administrastion, it hides in plain sight, starting right at the top, where the President shamelessly promtes his private business interests (and continues to profit from them personally) on the public dime. You have Jared Kushner blatantly peddling his position with his father in law to foreign leaders hoping that one of them will bail him out of his bad real estate deal.

But Congress is showing a conspicuous lack of interest in looking at any of this. This kind of ethics is straight out of teh Guilded Age.

Oh, and if you don't think guys like Jeff Bezos or Mark Zuckerberg think they are above government, just watch them.

Or, better yet, if you think corporations are more benign that government, take a job in an Amazon warehouse.

 

I would add Chicago to that also but overall these are the exceptions.

 

Probably because the manufacturers are thinking..what will the market bear? For you know that the foreign auto makers here, in the South, are paying pennies on the dollar in regards to what their human labor once cost. Hell, when a friend of the family's son went to work in a nissan plant here in Ms, I figured the kid was doing really well, making cars. Wrong! And I was shocked to find out his hourly wage! Once upon a time, working for ford or gm meant you had a damned good job, middle middle class, with insurance and retirement. This was a good job for americans once upon a time.

Mexican labor is extremely cheap and those people have zero benefits, or at least I was told this by an engineer friend who had to go to mexico to help set up a United Tech factory there, that was here in my area for many decades, supplying middle class jobs. It began as Bosch, but later became UT, making electric motors. I think that profits are just being maxed out, and pricing is done on what the market will bear.

In regards to bubbles, we seem to have to move from one to another. A bubble economy.

 

Corps answer to the courts just like pols. Corps answer to those who "vote" with their wallets just as pols answer to those who "vote" with their ballot. Thing is, you can effect a Corp's bottomline faster than the next election rolls around. Depending on office that's 2,4,6 years etc.
You remind me the last time Corps rounded up a bunch of people and stuck them in camps with force of law. The last time OUR .gov did that was the 40's. That's not so long ago.
The closest thing I can think of to apply to Corps would be slavery, which was fully supported and abetted by the .gov and LITERALLY took a civil war to do away with.
And then the .gov rounded up the natives as well, AGAINST THE RULING OF THE SCOTUS no less. See Andrew Jackson's famous quote "Mr Supreme Court Justice has made his ruling now let him enforce it". I thought pols answered to courts? Odd that, no?

If you say so bud. But then you've been so wrong about these other things I'm not sure your word carries a whole lot of weight.

 

Credit availability doesn't 'create long term misery'. People do.

Heroin is readily available (if you know where to look), but few of us buy it.

 

It's ALWAYS the borrower. See my reference to heroin, above.

 

And the planet doesn't need the remaining percentage doing that.

 

LoL Have you ever participated in local government at the administrative level? Like the bureaucracies that actually do the things that the elected pols demand?

I could tell you stories that would curl your hair.

Any group of people WILL become corrupt. The more power concentrated the worse it gets.

 

Of course, the price of used cars is also increasing.

In fact, the whole economy seems to be in an unsustainable bubble reminiscent of 2008. Look at the real estate market.

 

Of course, that means that almost no working stiff can afford a car these days.