jdm-rhd
Well-Known Member
- First Name
- rob
- Joined
- Jun 26, 2021
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- orbiting caprica
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- #1
i think we need a thread discussing the economy. there are so many variables and they affect us all whether its here in the usa or globally.
being the op, i want to allow and feel it's ok to discuss politics, but please be respectful and no name calling or personal attacks. thank you
ive quoted a few other members remarks here from other threads that i feel will help get things started...
being the op, i want to allow and feel it's ok to discuss politics, but please be respectful and no name calling or personal attacks. thank you
ive quoted a few other members remarks here from other threads that i feel will help get things started...
If we end up in a recession and people default their existing loans these dealership pigs will get slaughtered as they well deserve
They're out. They sold the car.
It's the bank's risk...
You'll have some people try to buy another cheaper car and let the current one go back. At the Credit Union, we rarely did a second ride for someone who had an open car and individual accounts.
We've been in a recession for months and it will only get worse. Massive layoffs in America is happening already
Hmm I'm in IT and people still reaching out for hiring. Maybe it will all fall apart at some point. Not sure we're in a recession though. Whatever else is going on, there are a lot of people throwing money around at vehicles. Maybe there are two economies, and two tiers of society.
I'm in Finance. Even though we are not in recession "official" yet, but it remains a real risk as the inflation remains too high, negative GDP, Feds raising interest rates, the stock market is s***, half of US companies are gearing up for layoffs. Look at Ford, they just laid off 3,000. Tech companies are taking a hit too.
The criteria for a recession seems to have slightly changed. We are not exhibiting all the classic symptoms of a recession as has happened in the past.
Low unemployment, job creation, and falling utility and fuel prices are not normally seen in a traditional recession.
I see the current dangers are supply chain issues due to existing COVID protocols in manufacturing and supplier countries, pent-up buying by higher income households in first-tier economies, and the resulting inflation caused by the first two issues.
This has all been caused by a once in a century health emergency in which we were not prepared and was mismanaged from the beginning.
It's going to be a tough couple of years for the average consumer.
Auto companies are transitioning to an EV world. Ford's recent layoffs are a result of the transition.