Posted on 06/15/2022 2:47:01 PM PDT by American Number 181269513
Unexpectedly? What do think will happen as rates climb?
Unexpectedly? What do think will happen as rates climb?
“Saving their money for that EV the Government will force them to buy ?”
How do you force someone to buy an EV that doesn’t exist?
1998, myself. Quality make. I put whatever I need to, into it. Serves me well, is at 260,000.
I’m close-my vehicle is a 1994 Toyota 4 Runner-this is a rural area, many roads are not paved and steep-and I also tow a small shop trailer sometimes at work, so 4WD is a necessity...
A couple of months ago, I had the mechanic just up the road put on a new water pump, timing belt, new hoses, etc-as soon as I have the $$$, I’ll get a new set of all-terrain tires for it-all at a fraction of what I’d pay in the city, or for a much newer vehicle -I have no intention of trading/selling it, even if I could afford something newer-my 4 Runner does not look at my speedometer, beep or talk, watch me back up, show me maps on a screen, give anyone my GPS location, etc-it has an engine I can understand and know what needs fixing-and I can get that repair done less than 2 miles away at my local home-based mechanic’s shop for less than a king’s ransom-that works for me...
My point was folks are going to stop buying lots of stuff, and purposefully eliminate all purchases unless absolutely necessary. Businesses will be taking a big hit. And the higher the prices go, the worst it will get for small and big biz.
The only “benefit” of off shoring is not many of our workers will get laid off. “THEIR” WORKERS WILL. Tough sh1t.
Saving their money for that EV the Government will force them to buy ?
No, it is because they don’t have any money to spare..
this is not the economy “to get married to a car, a house, and possibly a spouse!”
As John Kerry-Heinz might opine - DUH.
“… consumers ramped up spending on services, including at food and beverage stores (+1.2%). Consumers cut back on goods, like furniture (-0.9%) and electronics (-1.3%). ”
So what Axios is saying is that people still have to eat and drink, but spend more on the same stuff because of inflation. People look around and say, “I’d like to get a new couch, but this one’s OK, I guess, and I’ll put off buying a new phone, and I don’t really need surround-sound for the TV.”
That’s our situation, although we did spring for a new washer and dryer since repair costs we’re getting competitive with replacement costs, and who knows what they will cost in just a few years because of Bidenflation.
The slums are now full of newer used vehicles bought on credit. It’s a result of the big used vehicle shortage scare a few months ago, when they replaced their more ancient used vehicles. I don’t see as many pickup trucks as a few months ago, either.
If fuel gets to 8 or 9 bucks I will be able to get a slightly used F-350 for around $10,000 or less.
The 1973 oil embargo killed the muscle car craze dead in it’s tracks. Same thing today with the huge truck/suv thing.
If retail sales were actually adjusted for inflation, I’m not even talkin real inflation, I’m just talkin the BS inflation the government gives us, how big would the drop really be?
There’s a reason they dumbed down the population as far as they have. Everything you hear comes out as smoke and mirrors. How in hell is the average American going to decipher this BS? They can’t even figure out basic percentages.
My daily driver is 36 YO with 116,000. Don’t drive that much.
Nothing like that at our conservative local McD franchise.
People realize that it’s because of Putin that a Ford pick up costs 100 thousand dollars.
” Consumers cut back on goods, like furniture (-0.9%) and electronics (-1.3%). “
I read an article a day or so ago that stated Target has warhorses filled with TV’s and electronics that are not selling. I suspect WMT/Sams is in the same boat.
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