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Thousands UponTthousands Of Unsold Cars Piling Up World Wide
05-17-2014, 01:19 AM (This post was last modified: 05-17-2014 01:27 AM by HG Spacetime.)
Post: #1
Thousands UponTthousands Of Unsold Cars Piling Up World Wide
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HG SpaceTime: Got space in your backyard we need to store some new cars. HG SpaceTime

http://www.absurdintellectual.com/2009/0...-car-lots/


[Image: xsheerness-8359-500x309.jpg]
Each one of those tiny dots is a brand-new car. Zillions -- literally zillions! -- of unsold cars are piling up in makeshift parking lots around the world. I see bargains in the future. (photo originally credited to David Goddard of Getty, via the Guardian)

Wow. That is a lot of unsold cars.

I read a few months ago that cars were beginning to pile up at Los Angeles ports, but a photo really makes the sheer numbers hit home.

A 10-photo gallery link below from around the world hits them home even harder. There are some mind-boggling pics there, including the one above.
http://www.guardian.co.uk/business/galle...=341883529

But that’s not all! Cars need gas, and the oil to make that gasoline is piling up as well: oil prices are so low that some people are actually holding on to their barrels and to their tanker ships and saying, essentially, that they’ll wait and see, betting that the price will go up sooner rather than later.

In fact, so many people are hoarding supplies of oil that the world is running out of places to store it. I’m serious.

But, of course, as soon as the price of oil starts to rebound, all of these hoarders are going to rush to cash in, selling off their supplies, and adding their glut of stored oil to the market — this excess supply is probably going to keep oil prices depressed for a relatively long time.

That’s interesting — but let’s get back to those cars. Unlike oil, which you can just store and store and store, and sell whenever you want, cars depreciate.

Sure, they say that a car loses most of its value the second you drive it off the dealer’s lot, but what if it never gets to a lot in the first place?

What’s going to happen in about nine months, when the 2010 models start arriving in showrooms? How much do you think that still-shiny-new 2009 — or 2008! — will be on sale for then? Right now it’s sitting in limbo — technically it’s still on the balance sheets at sticker price. But there’s no way a car company will be able to sell them at sticker price if they’re last year’s model.

Plus, these are not the super-fuel-efficient awesome cars we’ve been promised are right around the corner — these are the old-model cars, SUVs and the like. Maybe, if gas prices stay down, trucks and SUVs at bargain prices will fly off of dealer lots — but that doesn’t help society at all.

And selling new cars at used-car prices i’s not really going to help the automotive industy, either.

But if you’re in the market for a new car, I’ll bet 2009 is going to be a very cheap year for you.
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05-17-2014, 02:41 PM (This post was last modified: 05-17-2014 02:43 PM by People4People.)
Post: #2
Sad Part Of The Plan For Wealth & Fraud On Taxpayers?
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May 17, 2014

WHY did Australia’s three car-makers — Toyota, Holden and Ford — announce shutdowns within nine months of each other?

So, who’s to blame for this predicament?

Federal Governments who created low import tariffs and signed Free Trade Agreements that gave cheap foreign cars the upper hand?

The unions that demanded better wages and conditions for their workers?

Or the bosses at the international headquarters of the car companies who treated Australian governments like a cash machine?

The truth is all of these factors share at least some responsibility for the industry’s demise, along, sadly, with the buying public and fleet operators who swapped patriotism for a broader choice of more affordable, more desirable, and more suitable imported cars.

Successive governments from both sides of politics created the economic environment that Australia now finds itself in: a nation with high wages, low import tariffs and a strong currency.

http://www.couriermail.com.au/news/why-a...6827493012

Thanks to the Rockefeller Standard Oil, and the Bush Cabal to make it happen, the world is riddled with oil wells, pollution, and waste. Families that were more interested in wealth than people or environment.

Vindicating Capitalism: The Real History of the Standard Oil Company

In 1881, The Atlantic magazine published Henry Demarest Lloyd’s essay “The Story of a Great Monopoly”—the first in-depth account of one of the most infamous stories in the history of capitalism: the “monopolization” of the oil refining market by the Standard Oil Company and its leader, John D. Rockefeller.

“Very few of the forty millions of people in the United States who burn kerosene,” Lloyd wrote...

http://www.theobjectivestandard.com/issu...l-company/

14,000 Oil Spills Nobody is Talking About & With Ford's Hemp Fuel Would Never Exist

Abby Martin goes over updates to the chemical spill in West Virginia and the coal-ash spill in North Carolina, exposing the human and environmental impact as well as the lack of accountability that accompanies tens of thousands of similar ecological catastrophes that occur in the US every year due to the US' addiction to fossil fuel.

http://www.realistnews.net/Thread-14-000...Henry+Ford

Waiting for truth.

Waiting for the world to change...for the better!

No Justice...No Peace...

Friendship/Love/Trust/Respect/Unity for all living things...

People4People, proud member of Realist News since May 2011.
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07-23-2014, 11:59 PM
Post: #3
Subprime Auto Loans Up 130% Since 2008
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Thinker, proud member of Realist News since Nov 2013.
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12-27-2014, 04:01 AM
Post: #4
Thumbs Down "Will We Never Learn?" - Meet Subprime Auto 'Title Loans'
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December 27, 2014

Get that debt back up...spend, buy, spend, buy!!!

The car is at the center of the biggest boom in subprime lending since the mortgage crisis, and The NY Times reports, similar to how a red-hot mortgage market once coaxed millions of borrowers into recklessly tapping the equity in their homes, the new boom is also leading people to take out risky lines of credit known as title loans.

Will we never learn?

“Turn your car title into holiday cash,” TitleMax, a large title lender, declared in a recent television commercial, showing a Christmas stocking overflowing with money..

But as The NY Times reports, the risky lines of credit - known as title loans - are, roughly speaking, the home equity loans of subprime auto.

In these loans, which can last as long as two years or as little as a month, borrowers turn over the title of their cars in exchange for cash — typically a percentage of the cars’ estimated resale values.

More than 1.1 million households in the United States used auto title loans in 2013, according to a survey by the Federal Deposit Insurance Corporation — the first time the agency has included the loans in its annual survey.

Title loans are an increasingly prevalent form of high-cost, short-term credit in subprime finance, as regulators in a number of states crack down on payday loans.

For many borrowers, title loans, also sometimes known as motor-vehicle equity lines of credit or title pawns, are...

http://www.zerohedge.com/news/2014-12-26...s-home-atm

Waiting for truth and history to make a difference.

Waiting for the world to change. for the better!

No Justice...No Peace...

Friendship/Love/Trust/Respect/Unity for all living things...

Namaste

People4People, proud member of Realist News since May 2011.
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12-27-2014, 05:07 AM
Post: #5
Thousands UponTthousands Of Unsold Cars Piling Up World Wide
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Dam things are getting bad in the USA.
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12-27-2014, 11:49 AM (This post was last modified: 12-27-2014 11:51 AM by joerobo.)
Post: #6
RE: Thousands UponTthousands Of Unsold Cars Piling Up World Wide
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This has been GM's modus operandi since the taxpayers bailed them out. Without Channel Stuffing and non-GAAP fudging it would have been bankrupt long ago.

[Image: GM%20channel%20stuffing.jpg]

http://www.zerohedge.com/news/2014-11-03...ember-2013

/dev/null
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01-12-2015, 05:16 PM (This post was last modified: 01-12-2015 05:16 PM by Thinker.)
Post: #7
Here They Go Again—-Subprime Delinquencies Rising In Autoland
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(12-27-2014 05:07 AM)HG Spacetime Wrote:  Dam things are getting bad in the USA.


WSJ article on rising auto loan delinquencies had a familiar ring. It focused on sub-prime borrowers who were missing payments within a few months of the vehicle purchase. Needless to say, that’s exactly the manner in which early signs of the subprime mortgage crisis appeared in late 2006 and early 2007.
http://investmentwatchblog.com/here-they...-autoland/

US Bank exposed - auto loans

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