Re: Cars Were a Bubble
- I still stand by my prediction, even though I really, really hope I'm wrong:
No matter what boneheaded moves the American auto industry makes, Congress will continue to mindlessly prop up all three of them, since they're supposedly too important to fail. For that matter, the "Big Three" could manage to sell zero vehicles per year and still survive due to a continuous federal cash inflow.
> "Cars were a bubble just like the housing market was a bubble," he said. "That's going to depress demand in subsequent years." [thinking in a time span of years, not decades]
> "Now people have decided we've got to get back to basics. We have three cars in the driveway. We need to go back to having two," he said.
> At least their thinking is headed in the right direction,
> but obviously we still have quite a ways to go.