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Paradoxish posted:Isn't this all part of the same problem? My understanding of the situation is that hyperaggressive new car financing is creating a glut of used cars, which in turn is tanking prices and biting financing companies in the rear end. The auto market in general seems exceptionally hosed at the moment thanks to manufacturers pulling out all the stops to build unsustainable demand. Some of it is because production fell in the recession (2009-ish according to this article). Then there's apparently a flood of cars from 2013-2016 coming off lease or being repossessed. So, very little inventory in the price range of 5-8 year old cars; a lot of inventory of 1-5 year old cars. quote:The Great Recession’s ghost is suddenly appearing at used car lots across the United States.
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Mar 23, 2017 19:22
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Dawncloack posted:I doubt, personally, the US is going to disengage. You don't increase your army massively to, then, not use it. You can very much increase the military and use it for little more than raiding terrorist camps, and flinging around drones and cruise missiles. It can be done purely as a roundabout form of welfare, depending on where the money is spent. All those American jobs building tanks and planes that go straight into mothballs. Or even just paying kids from the rust belt to shine boots for a few years, and then send them off to college.
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Mar 23, 2017 19:41
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I leased a Chevy Cruze last year for 24 months, with 30k miles, for a total price of $1,400 which I put on my credit card at the dealership. There's no way that can be sustainable. Looking at the best lease deals around right now, there are tons of new cars available for under $200/mo with less than $2k down... I can't blame people for not buying used at those prices.
call to action fucked around with this message at 21:17 on Mar 23, 2017 |
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Mar 23, 2017 21:13
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call to action posted:I leased a Chevy Cruze last year for 24 months, with 30k miles, for a total price of $1,400 which I put on my credit card at the dealership. There's no way that can be sustainable. Looking at the best lease deals around right now, there are tons of new cars available for under $200/mo with less than $2k down... I can't blame people for not buying used at those prices. For years I've been told that leasing is a Bad Idea(tm). Are these terms actually worthwhile?
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Mar 23, 2017 21:29
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anonumos posted:For years I've been told that leasing is a Bad Idea(tm). Are these terms actually worthwhile? Leasing is a fine way to constantly drive a new car if you want to drive a new car. If you qualify for targeted offers, leasing can also be an unbelievably cheap way to drive a new car. Watch here: https://leasehackr.com/
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Mar 23, 2017 22:20
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Leasing is also a great way to drive cars you dont want to own outside of warranty periods with less headache
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Mar 23, 2017 22:21
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That's some funny poo poo because it's happened to the Auto industry before. Not something like it that exact same thing. You think they'd learn. It's literally a textbook example.
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Mar 23, 2017 23:10
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Last Week Tonight did a program about car loans half a year back it might be related in some way, https://www.youtube.com/watch?v=4U2eDJnwz_s 
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Mar 23, 2017 23:44
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Twerk from Home posted:Leasing is a fine way to constantly drive a new car if you want to drive a new car. If you qualify for targeted offers, leasing can also be an unbelievably cheap way to drive a new car. Watch here: https://leasehackr.com/ Leasehackr is the poo poo and exactly how I found my last deal. There's currently something almost as good if you currently lease a non-GM car (possibly Japanese only), brinigng payments down to something dumb like $100/mo for 12k miles/yr. Leasing can be a bad idea, but at those prices it's barely more expensive than an older used car's maintenance and depreciation. Plus it owns to know you're covered for anything that happens to the car mechanically, and the only thing you need to do is change the oil and rotate the tires (sometimes you can even turn the car in with the original set!).
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Mar 24, 2017 17:21
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https://www.nytimes.com/2017/04/07/business/economy/jobs-report-retail-employment.html Holy poo poo, nearly 35k jobs lost in retail in a single month
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Apr 8, 2017 05:43
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call to action posted:https://www.nytimes.com/2017/04/07/business/economy/jobs-report-retail-employment.html Well, now that Obama's out of office you're free to openly criticize economic performance again
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Apr 8, 2017 05:56
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call to action posted:https://www.nytimes.com/2017/04/07/business/economy/jobs-report-retail-employment.html Automated away by way more efficient warehouses.
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Apr 8, 2017 06:08
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MiddleOne posted:Automated away by way more efficient warehouses. DHL Supply Chain to test collaborative robots Recent retailer chain losses to far in addition to Macy/JCpenny https://www.washingtonpost.com/news/morning-mix/wp/2017/04/05/america-is-over-stored-and-payless-shoesource-is-the-latest-victim/ http://www.theindychannel.com/news/local-news/hhgregg-to-shut-down-after-failing-to-obtain-a-buyer
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Apr 8, 2017 07:00
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https://twitter.com/CNBC/status/850433023929614338 Economy not looking strong.
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Apr 8, 2017 17:18
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Let's give the rich more money for them to hoard. I'm sure that'll help this time.
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Apr 8, 2017 18:02
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OhFunny posted:https://twitter.com/CNBC/status/850433023929614338 This isn't hugely out of line with first quarter GDP over the last several years. I hate to be that guy, but people mostly want to talk about it now because we've got Trump in office instead of Obama. The truth is that the US economy has been stuck in the mud for most of this recovery and it only seems okay relative to most of the rest of the world. Good employment growth has really been the only thing driving the narrative that the economy is healthy. Paradoxish fucked around with this message at 18:26 on Apr 8, 2017 |
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Apr 8, 2017 18:20
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By most of the rest of the world, do you mean... The Eurozone? Because it seems to me that USA has been pretty average among first-world countries that have currency sovereignty and haven't enacted or haven't been politically able to enact full austerity.
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Apr 9, 2017 14:19
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Paradoxish posted:This isn't hugely out of line with first quarter GDP over the last several years. I hate to be that guy, but people mostly want to talk about it now because we've got Trump in office instead of Obama. The truth is that the US economy has been stuck in the mud for most of this recovery and it only seems okay relative to most of the rest of the world. Good employment growth has really been the only thing driving the narrative that the economy is healthy. Also I am mildly pissed that Very Serious Persons with milky, uncalloused hands have managed to ignore that the vaunted Obama Recovery was overwhelmingly (as in: 90%+) based in permatemp contracting when it wasn't part time. http://dataspace.princeton.edu/jspui/bitstream/88435/dsp01zs25xb933/3/603.pdf Hillary "America is already great" Clinton is a garbagelady and the DNC needs to be reformed with hot tar and pincers
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Apr 9, 2017 18:55
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uncop posted:By most of the rest of the world, do you mean... The Eurozone? Because it seems to me that USA has been pretty average among first-world countries that have currency sovereignty and haven't enacted or haven't been politically able to enact full austerity. What other countries are there in the first world? The UK's and Canada's economies have not done better than America's, Australia's has but only because it's a mining and commodoties rentier state, Japan is Japan, .... Maybe Sweden has registered better growth? That's about it
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Apr 9, 2017 19:50
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icantfindaname posted:What other countries are there in the first world? The UK's and Canada's economies have not done better than America's, Australia's has but only because it's a mining and commodoties rentier state, Japan is Japan, .... Maybe Sweden has registered better growth? That's about it It really cannot be understated just how poo poo the rest of the first world is doing.
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Apr 9, 2017 19:56
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icantfindaname posted:What other countries are there in the first world? The UK's and Canada's economies have not done better than America's, Australia's has but only because it's a mining and commodoties rentier state, Japan is Japan, .... Maybe Sweden has registered better growth? That's about it
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Apr 9, 2017 19:59
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Paradoxish posted:This isn't hugely out of line with first quarter GDP over the last several years. I hate to be that guy, but people mostly want to talk about it now because we've got Trump in office instead of Obama. The truth is that the US economy has been stuck in the mud for most of this recovery and it only seems okay relative to most of the rest of the world. Good employment growth has really been the only thing driving the narrative that the economy is healthy. Would you argue that much of that employment growth has only expanded the precariat class with more permatemp contract and part-time work for fewer benefits and at less wages before the crisis? Also too the gig economy has grown. This recovery is a house of cards.
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Apr 9, 2017 20:14
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I think employment in general is a super lovely metric because its usefulness is more or less limited to the question "is the economy currently in recession right now y/n." Even then you need to be looking at some kind of rolling average and not just a single month's jobs figures to be sure that you aren't seeing noise. Quality of jobs (however you want to define that), wages, etc. are definitely way more useful if you're interested in answering the question of whether or not an economic expansion is actually working to benefit a large number of people. Most of that data from the last eight or so years is much less optimistic.
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Apr 9, 2017 20:46
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Confounding Factor posted:Would you argue that much of that employment growth has only expanded the precariat class with more permatemp contract and part-time work for fewer benefits and at less wages before the crisis? Also too the gig economy has grown. Pretty much all of the actual growth in the recovery also went to the rich. Overall there's been a recovery but very few people are benefiting from it.
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Apr 9, 2017 20:46
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Willie Tomg posted:Also I am mildly pissed that Very Serious Persons with milky, uncalloused hands have managed to ignore that the vaunted Obama Recovery was overwhelmingly (as in: 90%+) based in permatemp contracting when it wasn't part time. Hillary wasn't wrong she she that. America has plenty of issues, but its still better than ~90% of the planet
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Apr 9, 2017 21:40
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A Buttery Pastry posted:Sweden isn't even first world, so it doesn't count. Are you defining it as "Third World" because it isn't part of the NATO or NATO aligned countries nor is it part of the former Soviet Bloc?
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Apr 9, 2017 21:42
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Nissin Cup Nudist posted:Hillary wasn't wrong she she that. America has plenty of issues, but its still better than ~90% of the planet Why the Democrats are going to lose every election for the next 20 years.txt (Assuming we still have elections in anything but name)
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Apr 10, 2017 00:10
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Lote posted:Are you defining it as "Third World" because it isn't part of the NATO or NATO aligned countries nor is it part of the former Soviet Bloc?
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Apr 10, 2017 07:55
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Surely Sweden is mega Russophobic tho, what with their lost empire and all that?
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Apr 10, 2017 09:27
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icantfindaname posted:Surely Sweden is mega Russophobic tho, what with their lost empire and all that? Eh, Swedish nationalism is derived from "modern" values, we are very proud in how not proud we are of our country, so any outwards display of nationalism are shunned. There was a big debate a while back if people wearing Sweden flag t-shirts outside sporting events are racist, like "confederate flag style on car" racist. It's weird. So no real dreams of the glory days of Swedish dominance outside the far right.
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Apr 10, 2017 09:34
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icantfindaname posted:Surely Sweden is mega Russophobic tho, what with their lost empire and all that? There's been 2 world wars since then.
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Apr 10, 2017 09:55
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Lote posted:Are you defining it as "Third World" because it isn't part of the NATO or NATO aligned countries nor is it part of the former Soviet Bloc? It's because he is Danish and therefore doesn't know how to count to three properly.
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Apr 10, 2017 10:01
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Nissin Cup Nudist posted:Hillary wasn't wrong she she that. America has plenty of issues, but its still better than ~90% of the planet A country is great when it: a) Outperforms other countries on defined metrics b) Meets or exceeds metrics of human development regardless of what others countries are doing
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Apr 10, 2017 10:26
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MiddleOne posted:There's been 2 world wars since then. Lol yeah sure, like I'm supposed to believe the Swedish PM doesn't have a secret plan to recapture St Petersburg in a locked suitcase
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Apr 10, 2017 15:03
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icantfindaname posted:Lol yeah sure, like I'm supposed to believe the Swedish PM doesn't have a secret plan to recapture St Petersburg in a locked suitcase Sssssssshhhhhh, how is Carl Bildt supposed to enact his conspiracy to topple the Russian autocracy if we keep talking about it! 
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Apr 10, 2017 15:27
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Paradoxish posted:I think employment in general is a super lovely metric because its usefulness is more or less limited to the question "is the economy currently in recession right now y/n." Even then you need to be looking at some kind of rolling average and not just a single month's jobs figures to be sure that you aren't seeing noise. Quality of jobs (however you want to define that), wages, etc. are definitely way more useful if you're interested in answering the question of whether or not an economic expansion is actually working to benefit a large number of people. Most of that data from the last eight or so years is much less optimistic. Seconded. In an ideal keynesian world employment is a pretty useful metric because it informs how much a state can productively deficit spend and also how much unused production potential (potential extra GDP growth) there is. In a monetarist world it just informs central bank interest policy and there ain't nothing politicians can do except pray to the free market fairy and beat up labor into more flexibility. As long as unemployment is fought almost exclusively with supply-side measures and sub-5% unemployment is immediately countered with central bank policy, the connection between reducing unemployment and improving lives is severed.
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Apr 10, 2017 16:36
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So do people looking to have kids these days just not care that their kids will probably never work a "real" job, or...?
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Apr 10, 2017 18:35
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call to action posted:So do people looking to have kids these days just not care that their kids will probably never work a "real" job, or...? Most people looking to have kids these days don't have a "real" job anyway.
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Apr 10, 2017 18:36
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"My kids will be as smart as me and will surely be members of the upper class trillionaires after I help put the Other in its place."
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Apr 10, 2017 18:40
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call to action posted:So do people looking to have kids these days just not care that their kids will probably never work a "real" job, or...? Most people don't make their babbymaking decisions based on a hypothetical job market twenty years in the future.
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Apr 10, 2017 20:06
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