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Old 03-09-2016, 10:30 AM
 
12,772 posts, read 7,954,977 times
Reputation: 4332

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Quote:
Originally Posted by CatwomanofV View Post
The auto makers made "YUGE" mistakes in the past. They built a lot of gas guzzlers when the American consumer was going toward the smaller, fuel efficient cars. The argument for bailing them out had to do with jobs, jobs, & jobs.

Wall Street made "YUGE" mistakes in the past. The biggest mistake was on the part of the government but deregulating these industries. They basically were gambling on subprime mortgages. They sold houses to many people how couldn't really afford them (or they could afford them when they bought the house but lost their income later), then they bundled those mortgages and sold them to other institutions. When a CEO drove a company into the ground, that CEO got a golden parachute. Who cares if rank & file workers lose everything. The argument for bailing them out was that they were "too big to fail." It they failed, the entire country would go down the tubes and we would be in a MAJOR depression.

Fast forward to 2016. The auto industry has learned its lesson. Not only are they making fuel efficient cars that people want to buy, they have saved many jobs in the process of learning that important lesson.

Wall Street however, has NOT learned its lesson. They are right back to doing what they did BEFORE and it is only a matter of time until we hit the point we were at in 2008. But, what does Wall Street care. The American taxpayers will bail them out again. And of course all the people who caused the problem to begin with haven't paid any kind of price. They are now free to do business as usual.



Cat
Incorrect...partly the consumers fault for the demand for these as well though. But really, no lessons learned.
Quote:
Demand For SUVs, Trucks Continue Unabated
January 2016 US New Auto Sales: Best Start To A Year Since 2006 As Demand For SUVs, Trucks Continue Unabated

So SUV sales are way up, partly because we conveniently have cheaper gas again, looking forward to he glut of unsold SUVs and historic low sales figures for the big 3 when gas inevitably goes back up again and nobody wants an SUV.

It also goes on to talk about the big muscle cars like the Dodge Charger and Chevy Camaro seeing big sales increases. I'm all for companies making whatever the want and selling what the consumer demands, but I certainly don't get the sense of any lessons being learned here.
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Old 03-09-2016, 10:51 AM
 
Location: Home is Where You Park It
23,856 posts, read 13,686,526 times
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Originally Posted by mkpunk View Post
The issue is how they want to carry out policy and how that effects me. I am skeptical that Trump will help the middle class.
On that we agree.
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