Posted on 04/23/2020 6:08:24 AM PDT by Bruiser 10
Gradually it is dawning on people that the big losers in COVID-19 are fracking, airlines, hotels, restaurants, newspapers, and New York City. The first three are resilient because they have weathered many a business cycle but he latter three are devastated.
One industry in peril that does not get mentioned is the automotive industry, particularly those who service vehicles.
Automobiles are sturdier and last longer. My car is 10 years old and I see no reason for it not to go another 10 years, especially as I have averaged less than 10,000 miles annually in the last 6 years.
Projecting my experience on those working from home, I see fewer oil changes, fewer tire purchases, and fewer automobile repairs.
I also see fewer car companies. The American market is stagnated.
(Excerpt) Read more at donsurber.blogspot.com ...
I have been thinking that I should get a new vehicle after things normalize. Not because I need one but because I can and to help the economy.
I hope my 16 Tacoma is the last new one for a decade or more.
Progress is slow and steady on the jeeps and blazer. Those will take over as daily drivers eventually.
I see another cash for clunkers. I’m ready.
Oh, this is one big national, virtual slumber party! Celebrities doing virtual entertainment. Lots of yukking it up about staying home, home schooling, binge watching tv. It’s just a blast to #stayhome #staysafe
Reality is coming, soon. Things will open, but the jobs people once had won’t be there. Government money will dry up, and tax hikes will be proposed. And when all this comes crashing down, the virtual support system will go away. Those slumber party goers will find that they aren’t #inthistogether anymore. They’ll be broke, jobless and hungry, and no one will give a rat’s behind. But they will be told to vote Dem, that will save them.
And I don’t think I can feel sorry for them.
84 Month 0% Financing an no Payments for 90 days.
Very Tempting...
Replaced my 04 Tacoma with a 19. Someone will inherit that truck from me.
There has been theorizing that a bigger Cars for Clunkers program, which of course would push further the split between those who can afford a car and those who can’t.
Same here. Neither of my low mileage cars would qualify as a "clunker", but I expect another similar-type program for new cars purchases.
Check Fairway Ford in Canfield Ohio, they were mentioning 0% plus discounts. Mostly an F150 dealer
“And they dutifully will”
Agreed. If there’s one thing this pandemic has done, it’s confirm my low opinion of the intelligence of the average American.
I have serious concerns that the panic porn and resulting economic crash will defeat President Trump.
Another big loser is the self employed. I have friends who have lost their businesses (few or no employees). Others if they can are working under the table trying to keep out of big brothers eye. It’s Soviet America.
I think the big loser has to include traditional celebrities. Does anyone seriously think that people will return to concerts, movies, and sporting events en masse anytime soon? All the while, they are being replaced by “online celebrities”, who don’t really have a presence in the real world.
My 2011 GMC 4WD pickup has 46,000 miles.
No plans to replace it anytime soon...
wait 3 or 4 months. go to the dealer, find what you want on his lot and offer him 50-cents on the dollar.
“....wait 3 or 4 months. go to the dealer, find what you want on his lot and offer him 50-cents on the dollar....”
Yep. Do your research online for make/model/color etc. and search the dealership websites for those ones you’re interested in online. Then, go on the last day of the month, preferably late afternoon before closing. They have monthly quotas they try to maintain and more willing to deal in an attempt to meed them. Right now, they can’t give em away and that 50 cents on a dollar maybe could become even less!!!
Our “runaround errand getter” 2006 Honda Civic is at 275,000 miles. Just did a brake job on her yesterday...still runnin’ strong. The 2010 Accord just touched 100,000 and did the timing belt and associated maintenance last week. Neither one is going away soon.
Cash for Clunkers is a abomination. If you want/need a new car, buy one. If you can’t afford the one you want without a government help, buy a cheaper one. Don’t ask me to help you pay for it and drive up the price of used cars for the rest of us.
If you want to help the economy, when you start going back to restaurants or get your haircut, tip the help 50% or more for a while to help them get back on their feet. If you go buy something from a small business that was shut down, pay 50% more than what they ask.
This particular factory town will be fine. Its workers will be out on regular unemployment, suped up with another $2500 a month apiece, for upwards of a year, if that’s what it takes, to get open and going again.
NH itself is in economically fine shape, with among the most educated and literate of workforces from the top down, as well as a good work ethic.
It is also a small state by both geography and population, with a good number of tech firms and famously low taxes.
The state’s one continuing problem is a drug problem, so it could well take some proactive organizing to keep out of work workers from sinking into that morass.
fracking won’t last with $20 oil. They can weather a few months, but not 2 years.
Airlines are not resilient at all - they have thin margins at the best of times, now they have negative. There will be a massive shake-up
hotels — like airlines, people are not going to be traveling at least until this Christmas. Even business is shifting to MS Teams / Zoom / conference calls
restaurants - massive shake-up, and again during the best of times they skate on thin ice, now it will be deadly for most.
newspapers - this will move things online - the NYTimes, Telegraph and Guardian are managing well. Local newspapers may work if they go all online. But a massive shakeup
Manhattan, London city - they will be hit temporarily, but they will come back - just as they did after all plagues etc. in history - cities attract talent, which attracts jobs which attract talent.
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