Capitalism, The Fed and Economic Policy
Comments
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cutz said:
I believe it.mickeyrat said:
Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.
_____________________________________SIGNATURE________________________________________________
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '140 -
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.0 -
tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ..._____________________________________SIGNATURE________________________________________________
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '140 -
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...0 -
Is that inventory related? Be interesting to see if cars are actually sitting for longer than usual.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...0 -
Could be I just so-happened to see a few recently in my area(and NO, I don't live in a rich area=LOL) and not the norm.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
I'm looking to buy a new car, or a '23, but I NEED a car as mine is 19 years old.0 -
Sales themselves are down 12%. We know the car makers are making fewer for higher profits. People just aren't buying them.mrussel1 said:
Is that inventory related? Be interesting to see if cars are actually sitting for longer than usual.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
Great example is the Dodge Hornet. I like the car, not the price. The public has spoken too and sales reflect that. You can't throw a high price on something because it's the way things are and expect good results from an inferior product.
Sales are abysmal. Nobody wants them.
My take on why sales are down. Prices are too damn high.0 -
I'm looking too. I think I will get the Bronco instead of the Hornet, unless the Hornet goes to like 25K then I'd get it.cutz said:
Could be I just so-happened to see a few recently in my area(and NO, I don't live in a rich area=LOL) and not the norm.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
I'm looking to buy a new car, or a '23, but I NEED a car as mine is 19 years old.0 -
That doesn't make a ton of sense. When inventory stacks up, dealerships and manufacturers cut prices. It's simple economics. That can't afford to have a depreciating asset sit on the lot.tempo_n_groove said:
Sales themselves are down 12%. We know the car makers are making fewer for higher profits. People just aren't buying them.mrussel1 said:
Is that inventory related? Be interesting to see if cars are actually sitting for longer than usual.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
Great example is the Dodge Hornet. I like the car, not the price. The public has spoken too and sales reflect that. You can't throw a high price on something because it's the way things are and expect good results from an inferior product.
Sales are abysmal. Nobody wants them.
My take on why sales are down. Prices are too damn high.0 -
Maybe owning a car that costs a semester’s tuition payment, gets shit for gas mileage, contributes to the climate change crises and costs a meal plan in insurance premiums isn’t all that attractive of an option to gen Z and millennials? Maybe they’re fine with urban living, bike paths and public transportation and/or working from home and not spending a shit ton of time commuting? And using car shares when needed. From an economic standpoint, new car ownership is a losing proposition. Hey, but drill baby drill, right?09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR; 05/03/2025, New Orleans, LA;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
They do make a hybrid model!Halifax2TheMax said:Maybe owning a car that costs a semester’s tuition payment, gets shit for gas mileage, contributes to the climate change crises and costs a meal plan in insurance premiums isn’t all that attractive of an option to gen Z and millennials? Maybe they’re fine with urban living, bike paths and public transportation and/or working from home and not spending a shit ton of time commuting? And using car shares when needed. From an economic standpoint, new car ownership is a losing proposition. Hey, but drill baby drill, right?0 -
You can literally look up the Dodge numbers and see. It's a horrible business model and it IS Dodge.mrussel1 said:
That doesn't make a ton of sense. When inventory stacks up, dealerships and manufacturers cut prices. It's simple economics. That can't afford to have a depreciating asset sit on the lot.tempo_n_groove said:
Sales themselves are down 12%. We know the car makers are making fewer for higher profits. People just aren't buying them.mrussel1 said:
Is that inventory related? Be interesting to see if cars are actually sitting for longer than usual.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
Great example is the Dodge Hornet. I like the car, not the price. The public has spoken too and sales reflect that. You can't throw a high price on something because it's the way things are and expect good results from an inferior product.
Sales are abysmal. Nobody wants them.
My take on why sales are down. Prices are too damn high.0 -
My brief research told me that because inventories of new cars were expected to rise in 2024, that used car prices would be falling up to 20%, but remain above pre-2020 levels. I don't know what the Dodge numbers are.tempo_n_groove said:
You can literally look up the Dodge numbers and see. It's a horrible business model and it IS Dodge.mrussel1 said:
That doesn't make a ton of sense. When inventory stacks up, dealerships and manufacturers cut prices. It's simple economics. That can't afford to have a depreciating asset sit on the lot.tempo_n_groove said:
Sales themselves are down 12%. We know the car makers are making fewer for higher profits. People just aren't buying them.mrussel1 said:
Is that inventory related? Be interesting to see if cars are actually sitting for longer than usual.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
Great example is the Dodge Hornet. I like the car, not the price. The public has spoken too and sales reflect that. You can't throw a high price on something because it's the way things are and expect good results from an inferior product.
Sales are abysmal. Nobody wants them.
My take on why sales are down. Prices are too damn high.0 -
I would always expect to pay more for a car than a semester of college. That's not particularly close.Halifax2TheMax said:Maybe owning a car that costs a semester’s tuition payment, gets shit for gas mileage, contributes to the climate change crises and costs a meal plan in insurance premiums isn’t all that attractive of an option to gen Z and millennials? Maybe they’re fine with urban living, bike paths and public transportation and/or working from home and not spending a shit ton of time commuting? And using car shares when needed. From an economic standpoint, new car ownership is a losing proposition. Hey, but drill baby drill, right?0 -
You aren't doing MIT or Harvard?mrussel1 said:
I would always expect to pay more for a car than a semester of college. That's not particularly close.Halifax2TheMax said:Maybe owning a car that costs a semester’s tuition payment, gets shit for gas mileage, contributes to the climate change crises and costs a meal plan in insurance premiums isn’t all that attractive of an option to gen Z and millennials? Maybe they’re fine with urban living, bike paths and public transportation and/or working from home and not spending a shit ton of time commuting? And using car shares when needed. From an economic standpoint, new car ownership is a losing proposition. Hey, but drill baby drill, right?0 -
Negative. My daughter went to William and Mary and that was less than 9k per semester. My son went to JMU and that was 6700 per semester. I'm not driving a car that cost 6700 very far.tempo_n_groove said:
You aren't doing MIT or Harvard?mrussel1 said:
I would always expect to pay more for a car than a semester of college. That's not particularly close.Halifax2TheMax said:Maybe owning a car that costs a semester’s tuition payment, gets shit for gas mileage, contributes to the climate change crises and costs a meal plan in insurance premiums isn’t all that attractive of an option to gen Z and millennials? Maybe they’re fine with urban living, bike paths and public transportation and/or working from home and not spending a shit ton of time commuting? And using car shares when needed. From an economic standpoint, new car ownership is a losing proposition. Hey, but drill baby drill, right?0 -
I'm using the Hornet as an example and one car I have followed. It's numbers sold last year were 9300. That isn't much for a "sport new car". The car should be priced at half that and then maybe you'd sell more.mrussel1 said:
My brief research told me that because inventories of new cars were expected to rise in 2024, that used car prices would be falling up to 20%, but remain above pre-2020 levels. I don't know what the Dodge numbers are.tempo_n_groove said:
You can literally look up the Dodge numbers and see. It's a horrible business model and it IS Dodge.mrussel1 said:
That doesn't make a ton of sense. When inventory stacks up, dealerships and manufacturers cut prices. It's simple economics. That can't afford to have a depreciating asset sit on the lot.tempo_n_groove said:
Sales themselves are down 12%. We know the car makers are making fewer for higher profits. People just aren't buying them.mrussel1 said:
Is that inventory related? Be interesting to see if cars are actually sitting for longer than usual.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
Great example is the Dodge Hornet. I like the car, not the price. The public has spoken too and sales reflect that. You can't throw a high price on something because it's the way things are and expect good results from an inferior product.
Sales are abysmal. Nobody wants them.
My take on why sales are down. Prices are too damn high.0 -
Funny, I didn't even know what a Hornet was. Had to look it up. I was hoping it was like the Super Bee. It isn't.tempo_n_groove said:
I'm using the Hornet as an example and one car I have followed. It's numbers sold last year were 9300. That isn't much for a "sport new car". The car should be priced at half that and then maybe you'd sell more.mrussel1 said:
My brief research told me that because inventories of new cars were expected to rise in 2024, that used car prices would be falling up to 20%, but remain above pre-2020 levels. I don't know what the Dodge numbers are.tempo_n_groove said:
You can literally look up the Dodge numbers and see. It's a horrible business model and it IS Dodge.mrussel1 said:
That doesn't make a ton of sense. When inventory stacks up, dealerships and manufacturers cut prices. It's simple economics. That can't afford to have a depreciating asset sit on the lot.tempo_n_groove said:
Sales themselves are down 12%. We know the car makers are making fewer for higher profits. People just aren't buying them.mrussel1 said:
Is that inventory related? Be interesting to see if cars are actually sitting for longer than usual.tempo_n_groove said:
Car sales have been down 12% past few years so this is somewhat befuddling.mickeyrat said:tempo_n_groove said:
I want to know what people are doing to be buying cars? I have seen a few dealerships offer zero financing. Maybe that is the incentive?mickeyrat said:cutz said:
I believe it.mickeyrat said:Illustration by Michael HaddadJune 10, 2024Listen to this article
00:00
14:20
Produced by ElevenLabs and News Over Audio (NOA) using AI narration.
If the United States’ economy were an athlete, right now it would be peak LeBron James. If it were a pop star, it would be peak Taylor Swift. Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America’s economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class. There are many ways to define a good economy. America is in tremendous shape according to just about any of them.
The American public doesn’t feel that way—a dynamic that many people, including me, have recently tried to explain. But if, instead of asking how people feel about the economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth. When an economy is growing, more money is being spent. More stuff is being produced, more services are being performed, more businesses are being started, more workers are being hired—and, because of this abundance, living standards are probably rising. (On the flip side, during a recession—literally, when the economy shrinks—life gets materially worse.) Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.
Rogé Karma: What would it take to convince Americans that the economy is fine?
continues...
I went to Costco on a Tuesday and the placed was packed like it was a Weekend. I always go on a Tuesday, or a Wed.s to avoid the crowd.
I've also seen a lot of New Car Tags(Temporary) while driving around too.
which is amazing seeing so many temp tags given interest rates havent starting dropping yet.perhaps. they get bonus for meeting unit totals. its also an indication folks are better these days despite high grocery prices etc...many polled say they are personally doing well, but still believe the ecnomy is bad ...
Great example is the Dodge Hornet. I like the car, not the price. The public has spoken too and sales reflect that. You can't throw a high price on something because it's the way things are and expect good results from an inferior product.
Sales are abysmal. Nobody wants them.
My take on why sales are down. Prices are too damn high.0 -
Point being, the younger generations aren’t all that into car culture, given the costs to buy, maintain, own a car. They’ve invented the “shared economy”. It’s a different world.09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR; 05/03/2025, New Orleans, LA;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
And I wouldn’t pay any amount of money for a Dodge, never mind $35K cash ‘Murican.09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR; 05/03/2025, New Orleans, LA;
Libtardaplorable©. And proud of it.
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