The Car Market is Collapsing

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23 күн бұрын

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Пікірлер: 1 100

@actualfacts1055 16 күн бұрын

America has been living beyond it's means for decades.

@user-uo7fw5bo1o 16 күн бұрын

More like a century plus, ever since the automobile became popular.

@fredretteketet 16 күн бұрын

Well. Finely someone is telling what this is all about!!!

@TUXmint 15 күн бұрын

This. The US economy is propped up by money printing that would make any other country have Zimbabwe levels of hyper inflation. Only reason the US doesn't is that it has forced the rest of the world to use the US dollar for all international trade. With the money printing we've seen over the last decade the world can no longer continue taking the burden of trading in the US dollar and the consequences will be an economic collapse unlike anything ever seen before.

@ronen160 15 күн бұрын

you misphrased "Capitalism"....... we are bombarded with pressure to BUY. Are you blaming the person, or the system? Oh, and who leads the system?

@Franciszek-qf8gw 15 күн бұрын

My car is 24 years old. It runs just fine.

@auntbarbara5576 9 күн бұрын

Im glad I bought new Toyota in April 2006. Over 18 years on the road, it still drives like new 👌🏽

@overlordisgoogle8431 13 күн бұрын

Anything over 30K for a vehicle is insane when my groceries, gas, and hosting costs are insane. The American dream has become the American nightmare.

@JohnChuprun 11 күн бұрын

A 100k truck... now that's just absurd. Absolutely absurd.

@user-uy4no1ti1k 15 күн бұрын

$118,000k for a truck !!! WTF !!!

@SenorTucano 15 күн бұрын

My 20 year old well-maintained Mercedes SUV only cost me $6000 and performs flawlessly. Why would I want to buy a new one?

@hopeseekr 16 күн бұрын

Car Insurance increased so much so fast that I can't even afford car insurance for my parked car.

@paranoidandroid34 15 күн бұрын

Mine jumped from $1200 to $1900 in two years. No accidents, perfect record, long time driver. No changes on my end, yet I have the pleasure of paying for all the cars getting stolen in my province. My car is paid off. How is this fair?

@actualfacts1055 16 күн бұрын

Borrowing money to buy an expensive car is stupidity by stupid people.

@voice.of.reason 15 күн бұрын

I've never done that in my life yet in the past 30 years, there are people who have always bought cars on credit

@jewlzbulls 21 күн бұрын

We are down to one car in my family; i won't buy one until the prices come down. F them!!!!

@shawnkelly695 17 күн бұрын

I own a few cars. Old clunkers. When 1 is being fixed drive another. Insurance is cheap as shit on older cars.

@Al-yu6bq 16 күн бұрын

Prices will never come down, cheap cars will be discontinued

@mycatisromeo 16 күн бұрын

They'll leave the cars on a lot in the middle of nowhere to rot away before they push too many cars on the market and crash the prices. Wall Street would lose too much money and lose too many future car loans profits by letting prices come down.

@spacex3140 16 күн бұрын

The prices won't be came down...how?? Trillions on dept? I can tell you where all this money is!!!

@robertwalker5521 16 күн бұрын

Five to eight thousand $$$ can get you a dependable vehicle. Do some strong "shopping" and making bold "counter offers".

@user-sy3wp9cy8d 16 күн бұрын

50,000 for junk better to buy 10000 car and spend 5 thousand on it and drive it for 10 years

@jamesdonald7485 18 күн бұрын

The US has always been a consumer economy and if the consumer is suffering, they stop spending and the whole market suffers. That is exactly what is happening right now and into the immediate future.

@johnnymidnight814 21 күн бұрын

Prices for food, clothing, and fuel have sky rocketed. I took my daughter shopping this past weekend and was blown away at the high cost of clothing. A pair of Carhartt work pants is now $50 at the Boot Barn. I simply could not bring myself to pay that much for work pants. I drive on older and well maintained truck that I own outright. The price of new trucks is outrageous. No way I would ever finance an $80,000 truck with all the problems and headaches that I hear people are having with them. The US economy is in deep trouble. We have got to get back to basics!

@ANDREASRIAL 17 күн бұрын

Can you Imagine the of a semi truck diesel, $250,000 and the other option here in California is the electric semitruck will be $400,000 ..... just crazy times

@waynehollins1193 17 күн бұрын

I agree 💯 save your money if possible 🙏

@SkankHuntForty2 17 күн бұрын

So you're telling me, the stock market is going up even more?

@gormenfreeman499 17 күн бұрын

They’ll have to create bigger denominations soon like a $1,000 and $10,000 note. Think how 100 years ago renting an apartment was like 10 bucks a month in a city like New York but they had $100 bills. That would represent 10 months of rent. Now a $100 bill isn't even one week of rent and thats the highest denomination…. Thats Jokes.

@shawnkelly695 17 күн бұрын

They could sell those trucks but they gotta come back to reality and cut those prices in half.

@joey_the_farmdawg 21 күн бұрын

Frogs in the boiling pot of water

@FDLrick 20 күн бұрын

Frogs actually get out before it gets too hot. Strange but True.

@steveambrose2349 16 күн бұрын

And getting hotter everyday. Nice analogy.

@ajcatter1011 14 күн бұрын

*My wife is a recruiter for a top NYC recruiting company, and has been working for them for the last 15 years. There's a freeze because it's all going AI, and to cover they are putting out "fake placements" until the transition is complete. My wife is actually helping the new programming bots on how, what, and where to do the jobs of hundreds including her own job as I blog. Your daughter is SPOT ON!*

@tomkarnes69 21 күн бұрын

Wealth creation over, it's all about wealth protection

@thenomadtrader1142 15 күн бұрын

Correct, time to scalp

@noneyabeeswax3200 12 күн бұрын

The elephant in the room,insurance companies in EU are currently working on refusing to cover older vehicles that are not connected to the grid so no matter how much you love your old beater(I know I love mine)there will be no way to plate them without insurance,the only way I currently see around this hurdle is become an illegal alien

@GD-lu9zo 12 күн бұрын

In regards to the car market, I’ve noticed a shift in attitude among myself and my friends. Years ago we competed to see who had the newest car/truck. Now the high mileage on our now-older vehicles is almost a badge of honor. We routinely talk about how many miles we have on our vehicles (I have 250K) and what we had replaced during our last service appointment.

@davidbagley1783 17 күн бұрын

People have no idea...the avalanche thats coming

@dennisheller333 17 күн бұрын

Car prices have been rising insanely for decades - and especially the past 5 years. What you are describing is demand destruction related to overpricing of cars. It has to end somewhere and that somewhere is where consumers reject high-priced cars. People still need and will buy cars. But, they are now starting to demand more car for their hard-earned dollar. It’s high time the car industry had a reckoning after decades of price increases and no innovation. Frankly, they deserve it.

@grayfox6518 21 күн бұрын

There is an insane delusion of what the sellers think the average person has in their wallet vs the reality of what the average person has in their wallet. The exponential downturn in the economy this year will be the result of how hard businesses hold onto their delusion until their business collapses.

@Iquey 17 күн бұрын

You are right. My dad is asking at least 10K for his old 1999 4Runner, but most people only want to pay $800-2000. Because he isn't being realistic about how many miles are on it and he wants to dump it as is, on people with a finicky engine/dead battery.

@tc96z1 16 күн бұрын

That’s exactly what Biden thinks.

@keithmahorney6533 21 күн бұрын

As CFO of our small business, (about 50 people), I am seeing a slow fade here. Ben is right on point. things are most certainly slowing. As you say, no one knows the future but we will have a day of reckoning. Great video Ben.

@robynopenshaw5268 21 күн бұрын

Slow fade here too, revenues in my biz of 15 people, down month after month for about 9-12 months now

@senmcquire 16 күн бұрын

No one can predict the future, but you don’t need to be Nastradamus to see the writing on the wall

@spacex3140 16 күн бұрын

What tell a clever man in you country-----the $ is our currency but your problem that means your goverment go shopping on credit all over the world and this since decades, is this ok?? They print money thats all, this causes more and more problems in the world, at some point the game is over, and we are on the home straight. Best wishes from gog old germany!! And we will be >third time< asshole!!!

@richarda3659 16 күн бұрын

The slow fade was the only viable option to get inflation under control. No matter how bad you may think inflation is or has been, it would have otherwise been far worse. Venezuela is currently suffering from 275% annual inflation. Would that be better? Once the rate of inflation slows, interest rates will decrease, consumer goods will become more affordable, and interest rates will drop. And the economy will rebound.

@jamescurrie2246 11 күн бұрын

The car market is dying because our government won't allow anyone to make a no frills basic vehicle for an affordable price. Where are the starter cars without all the computers and special features? I need a pick-up truck with an engine , wheels, and good breaks for $15,000 off the lot. Seriously.

@jcarroll1202 12 күн бұрын

My mantra for the past 5 years was "stay out of debt". My car was 14 y.o. when the dashboard lit up. Timing issue. Quoted roughly 8K to fix. Off to the car lot I went. Ugh. High prices, high payment. I put down 6K and a 5-year loan later I'm hoping I stay healthy (62) and don't lose my job before retirement. Ugh.

@sunlite9759 15 күн бұрын

The problem, in a nutshell, is there are to many in the cart and not enough pushing it!

@isaacyadgar9410 21 күн бұрын

I totally agree, your son is right, people don't have money. I am in the home remodeling business in the Bay Area for 27 years and a trend we are seeing that is unprecedented for as far as I remember, is that people hiring contractors for work they must have done, like roofs or plumbing and electrical issues, and then simply don't pay, and its not just happening to us, but few of my friends who are also in this business are seeing the same thing, and in large numbers.

@empiricalscout4537 18 күн бұрын

Put on lein on their house, when it sells you'll get your pay then I think. Sorry you guys are going through that.

@deborahcurtis1385 18 күн бұрын

It's not a solution to people not having money, but a strategy is to ask for a 50% deposit on commencement of the work, 25% halfway through and 25% on completion.

@shawnkelly695 17 күн бұрын

Put a lien on a house that the bank owns and the person so far in debt you will never see a dime. Sure sucks when people run up so much debt and its the little businesses that get screwed. I did it, made huge money at young age. Bought a house and felt rich. Bought brand new car. Finananced furniture. Ran up credit cards. Got repairs done to be luxery. Then oh shit the bills piled up fast. I am now helping my daughter buy a home but use my experience. Drive old car and fix yourself. No payments and cheaper insurance. Pay morgage but instead of house paid to 0 have its value in assets and morgaged. Morgage payment never changes as assets gain value. If needed assets could pay house to 0.

@Phamyunx 15 күн бұрын

I am used to my old SUV and won’t buy any new cars as long as it runs. By the way, ever since I started to maintain my vehicle at 90,000 miles, it’s run better. Now it recorded 202,690 miles.

@jennifertew5566 6 күн бұрын

I’m driving my car until the wheels fall off! No car payment, and don’t care if my kids are embarrassed because I’m paying for their college! Live below your means you won’t regret it.

@theyjustwantyourmoney4539 11 күн бұрын

The corporate greed in America is staggering

@davidbagley1783 17 күн бұрын

My great grandfather worked for Henry Ford in 1912.. he was hired as an electrician from Glasgow Scotland

@billbarney4937 15 күн бұрын

in all my years the only loan i took out was to buy a house. pay cash for stuff. if you cant afford a new car buy what you can afford. new cars are way overpriced

@user-zg2qu6ct8t 14 күн бұрын

As one who recently needed a truck, I refused to spend 80k for a truck. I instead went with a used truck even at 34K, but it was much cheaper than a new one (law of contrast). 34K should be the top end of a new truck. They're just not built well enough to ask anything more. It's no longer about providing good value; it's about "what can we soak people for" and keep them perpetually in debt to the banks, and rake in high profit margins for the manufacturers. It's all the result of greed and crony capitalism.

@christopherscarpino8994 18 күн бұрын

I am a faculty member in engineering with 17 years of professional experience plus many years of teaching. I have been looking for a new permanent position for years. Despite the years of experience, I can only attain temporary assignments, with no benefits.

@deborahcurtis1385 18 күн бұрын

It's brutal. I'm highly qualified in law and because of extended break outside of my control, now can't get hired. I'm going to have to drop this career and pivot to something else. But what? Everything is under pressure. Perhaps accounting specialising in insolvency?

@spacex3140 16 күн бұрын

Terrible, but here in Europe the situation is not better!!

@johnsmith1953x 16 күн бұрын

This has been happening for 25 years in the USA... even PhDs in engineering have had this problem!!

@user-yy4up8qf5m 16 күн бұрын

"What you say... is what you get... be careful what you say!"

@SK-le1gm 16 күн бұрын

Welcome to Bangalore. Take 2 weeks and bring the fam. Email ahead and you’ll get interviews lined up. Glad you’re on the team 🛫 🇮🇳

@user-in5vn1jp2q 16 күн бұрын

We have moved from being a producing economy to a consuming economy. This will not end well.

@Franciszek-qf8gw 15 күн бұрын

Money is in manufacturing.

@aldyendonnelly648 15 күн бұрын

I disagree. We did shift from a consumption- to a production-driven economy manay decades ago. But over the last half of the 1990s and the 2000s, we shifted from a production- to debt-driven economy.

@MgtowRubicon 17 күн бұрын

Look at a private sale to buy your next car. Do your homework, and then help a distressed seller that needs cash now.

@Manic.miner2077 11 күн бұрын

Mad, I literally watched a video of a woman going to Dallas to pick up her repoed car. When she got to the business, my god, there were cars, bikes, jet skis, boats, motor homes as far as the eye could see. The kicker was she had gone to the wrong business, she had to drive another 30 minutes to the other business where the view was the same, repossessions as far as the eye could see. The woman didn’t bat an eyelid, only interested in getting her car, me on the other hand was like OH….MY…..GOD wtf is happening to the U.S economy. I’m from the U.K. so this blew my mind.

@user-nw9ve3so1r 20 күн бұрын

I just hired a highly qualified and motivated former Bay Area medical services employee for my firm. He moved 2300 miles at his expense for the position. He tells me he looked for work for 5 months before deciding to leave California.

@Reppondinvestments 18 күн бұрын

Thank you 🙏

@markedfortime 16 күн бұрын

I've personally been identified as the "top candidate" for two different roles that were canceled due to a hiring freeze. I've also seen jobs at the VP or Director level paying $150k for a job that should be $200-250k. I've also seen many phantom jobs posted for over a year. Clearly they aren't hiring.

@k_zildjian4460 16 күн бұрын

It's not inflation, it's price gouging, Corporations used the pandemic fueled "supply chain" shortages to raise prices on everything from eggs to lumber, and enjoyed record profits once restrictions eased. Let's call a spade a spade. We are in an era of unprecedented corporate greed and are saddled with a political establishment that is wholly complicit.

@sazajac77z 16 күн бұрын

Absolutely incorrect. Inflation is ALWAYS caused by government. Which then tries to blame business. And you bought it.

@fredkraus9180 15 күн бұрын

You sound like Joe Biden

@427vot 15 күн бұрын

I agree. Monetary policy is only part of the problem. Profiteering a big part of the problem.

@TUXmint 15 күн бұрын

Retarded take. You're basically arguing that corporations have never been greedy before. A significant portion of eggs and lumber are supplied by small companies, all "corporations" didn't just suddenly become greedy and all companies across the globe don't conspire to screw you over. The amount of US dollars in circulation early 2020 were 4 trillion. In 2022 it was over 20 trillion. That's literally inflation of 500% over two years. (Source: M1 money supply)

@purplegang47 15 күн бұрын

It's inflation. The money printers are in overdrive and have been since Biden stole the election.

@karthikeyanengg 21 күн бұрын

Those jobs exist but it is a dummy job posting to hire someone from other country with less salary. this is going on for a while

@richardhaughton4303 16 күн бұрын

Try 6 months, the train is coming down the tracks at 120 mph. Thank you so much for the video.

@JefferyRiggin 8 күн бұрын

Beast system is moving forward You will not be able to buy or sell Without the mark rich or poor Slaved and unslaved

@GalvestonGuy 7 күн бұрын

Consumer debt, interest rates, and national debt can only add up to one thing: disaster.

@darrelloconnell8772 14 күн бұрын

I now have 330,000 miles on my F350 diesel pick up truck. And for what it’s worth I anticipate getting another 330,000 miles on that truck. I may need to have the engine rebuilt, but I am not buying a replacement truck for $100,000!

@RezPlank 15 күн бұрын

I agree with the analists: the economy is doing great. Granted, I'll never be able to afford a home or a new car, I can barely afford to eat and have come close to homelessness a few times, but yeah, things are great.

@jerz9443 16 күн бұрын

If by collapsing, you mean getting to normal prices, I am ok with that.

@semi-chubber2388 15 күн бұрын

Not me. Let’s make that money printer go brrr…. I want to speculate on crypto again.

@scotttovey 6 күн бұрын

What your daughter said about companies posting jobs that don't exist is not completely unimaginable. In 2005 - 2007 when I was unemployed and looking for work, another person looking for work told me that she had found out that some employers were not taking job postings down after they had filled the position in case the person they hired did not work out. Not only does this practice make it appear that there are a lot of jobs available, it makes it harder for the unemployed to find jobs. So there are a lot of job postings, but those jobs do not exist.

@FinTra_ 18 күн бұрын

They are posting non existing jobs. Juat to get that one off candidate. Either lower paid, better qualified or something. But the intention is not to hire but fish for top or cheap talent

@barenekid9695 5 күн бұрын

Roman empire took 300 years to wind down. American Empire has only needed 50 years.

@Wolf_DeNoire 11 күн бұрын

It's unrealistic for investors to expect double digit returns. There is a greed mentality where everyone only wants to be rich. The American dream used to be family based. Its now a fantasy of being rich and material and luxury based.

@vincentkivuva584 16 күн бұрын

Ways in which the consumer is being squeezed out and reducing both their spending and purchasing power: 1) Increased rent 2) Increased insurance and medical premiums 3) Stagnating wages 4) For those in ride share, increased take rate by Lyft and Uber coupled with increased fuel and maintenance costs. One thing that is overlooked about the car market is that full-time rideshare drivers are not buying new cars anymore. Most of these drivers used to buy a new car once every 18 or 24 months. The business is paying less and there's an even bigger risk of being deactivated on flimsy, ridiculous and unfounded grounds. At some point the elite will have to wake to the reality they can't grow or survive in an environment where those at the bottom and middle class don't thrive.

@JasonAdank 6 күн бұрын

Ross Perot saw this eventuality clear back in '91. When NAFTA was getting passed and the 'global economy' was getting birthed. Now we're reaping what has been sown for the last few decades. Our economy depends on consumerism, but most of our middle class jobs were shipped overseas to cheap slave labor markets. So now lots of people are poor and have much smaller incomes. So people have to be frugal which means we arent buying things. I knew globalization was gonna be trouble back in the 90s but no one cared. FF to today, and the reality is finally hitting home.

@stolenjunk 10 күн бұрын

I can remember buying used cars and trucks for $50 to $500. Cash for clunkers ruined that.

@petrovichbauer5105 6 күн бұрын

The oil companies collectively profited $40B+. Most of the problem is corporate greed.

@markfrancis5164 16 күн бұрын

Its all about the rates staying comparatively high. With inflation and the COVID spending spree, we, the people, are now paying for the greed of the ruling class.

@davidbagley1783 17 күн бұрын

I remember when a new truck cost $5000

@biglance 15 күн бұрын

"Great Reset"=All of the people who got the "Magic Juice" checking off the planet :)

@dinoordenali6657 16 күн бұрын

Visit few dealers lately and sales people acting like business is usual . But I can tell it’s Not the realty

@LuciFoster-ke8qj 6 күн бұрын

The issue is the ridiculous cost of buying not just a new car but used cars. Yet GM, Ford, Toyota, etc. are multi-billion $ Co's with CEO's making $30M annually+. So people are keeping their vehicles. A new vehicle every couple of years has become a luxury so we keep them.

@diehappy3997 11 күн бұрын

This is why minimum wages are pressured to rise. Costs are rising out of control.

@paulmitchell2857 4 күн бұрын

I was told by a friend that applied for a manager position for one of the dollar store franchises, that they were being given some sort of incentive from the federal government to post help wanted ads. Even though they don't have any need to hire someone they are either getting tax breaks or some other incentive to post help wanted ads

@peacefamily212 17 күн бұрын

They are doing the same in UK lying that theres loads of jobs when clearing there isnt and also with minimum wage going up people have lost their jobs or their hours have been cut. Great video sir thank you

@LittleElvis967 9 күн бұрын

I’ve been hearing about this for 40 years and nothing happens. Bring back cars without power windows and see who buys them. We the people are our own worst enemy. When is the last time you heard of a new home built that is 1200 sq feet? We are a spoiled society.

@KevinJLenard 14 күн бұрын

I love the so-called investor class! You hear that companies are overpriced, stocks are overpriced, the market is overpriced, however It's inflation driven by profit-seeking by companies driven to provide dividends, not driven by any global crisis, that is slowing consumer spending. It's the latter that will drive the next depression. Since they sort it out the subprime mortgage scam, the next thing to fall will be overpriced cars and their associated leases.

@1philliph 16 күн бұрын

My sons and I watch the car and boat market via our national trading platform on the internet. In our case its called trademe in New Zealand. Its clear that the consumer has either no spare money or is very fearful of what may be in store for their income. Personally, I suspect the former. Having said this, it shouldnt come as a surprize. Those who survive this pending financial meltdown will have on average, seen it coming 3 years ago.

@liberty4392 8 күн бұрын

Our car payment is about $280 per month. We owe less than $8,000 on it. We also have about $160,000 not locked up in retirement accounts. We invested in things that did not depreciate in value like expensive automobiles. Cars and trucks are necessary but they are money pits. They are not assets. A house is not an asset either until you sell it.

@SnowAngelfish 18 күн бұрын

About the car dealerships,, i dont buy it. If they are really hurting then their inventory would be highly marked down right now and it is NOT. Therefore they are not really hurting.

@deborahcurtis1385 18 күн бұрын

They are faking it as long as they can. IMO

@Thisishard2333 17 күн бұрын

Agree. But dealers selling golf carts are slashing prices because they are overstocked.Carts 12,495 are now 8495.Do this at car dealerships

@user-uo7fw5bo1o 16 күн бұрын

IDK about that it may be that these dealers are hurting but they are loathe to lower the prices because they think they can't afford to or the manufacturers and the repossessing banks forbid it.

@chadgrossman182 16 күн бұрын

What about the insurance! It's more than the payment in many cases- especially in the Northeast and major cities nationwide. This is a major crisis.

@davdep 16 күн бұрын

High costs, high wages, expensive houses and cars and expensive everyday items, it's just not sustainable and will end in a big fall !!

@kryts27 14 күн бұрын

High inflation, high unemployment. It's just like the 1980s 😮

@JorgeOrpinel 12 күн бұрын

We do NOT love cars. We are FORCED to own them in order to function in society by oil conglomerates (who dictate urban planning).

@MemoGrafix 8 күн бұрын

TODAY IS THE TOMORROW YOU SHOULDA FEARED YESTERDAY.

@dmcnamara9859 12 күн бұрын

A house payment for a cheap car for 6-8 Years is a no brainer. Keep your 90s early 2000s vehicle forever, cheaper in long end with basic maintenance and light/heavy repairs.

@okboomer6201 14 күн бұрын

While departing the Detroit airport, I passed a huge, fenced off parking lot with thousands of brand new jeep brand vehicles in it. Picture five Walmart parking lots packed full.

@redprince1000 15 күн бұрын

I am a contract worker accountant - job boards are full of jobs that have been filled and recruiters keep them on to look busy or for clickbait.Electric cars values are suffering enormous fall off in value - leasing companies are going to take a huge hit sooner or later.

@dmitriikurilov1569 11 күн бұрын

Car manufacturers are adamant about producing unaffordable vehicles with premium options. People need affordable cars, not these extremely expensive ones.

@user-cj7dv2kc6d 16 күн бұрын

I was at a dealer recently and every single salesperson was busy helping customers. Lots of activity.

@semi-chubber2388 15 күн бұрын

Helping them trade in their newer cars for older cars. Plenty of that activity, yes.

@SK-le1gm 16 күн бұрын

New subscriber. I’m in India. Expat from USA left when I saw Hillary vs Donald, just cashed out. Any questions I can answer? There is zero inflation here. Not a chemtrail in the sky either.

@chuqing99 18 күн бұрын

I agree with your assessment of the economy in the US. But the piece for China is old news, at least one year old. In fact, China is bottoming out and begins recovery. If you look at the Hongkong and Shanghai stock market, smart money is getting in right now.

@deborahcurtis1385 18 күн бұрын

There's a difference between the stock market and the broader economy. Look at the situation in the US.

@user-ut6ji8my2h 6 күн бұрын

Car manufacturers have been selling vehicles based on add on features which make their vehicles less and less reliable, while making them more and more expensive. I own a 1994 F150 Ford Pickup Truck, and a 2004 F150 Pickup Truck. Both run like a swiss watch, but the 2004 has taken way more preventative maintenance than the 1994. The 1994 is a straight 6, 4.9 liter, 5 speed manual 2wd. Bullet Proof. The 2004 is a 5.4 V8 automatic. I did all the upgrades myself. Timing job etc etc etc. the 94 was paid off in 1998, the 2004 in 2009. I will not buy a new truck, even though I can afford one, they are ridiculously priced, and not as reliable as my 20, and 30 year old ones. Auto manufacturers have been going backwards for years, more expensive, and less reliable.

@CliftonHicksbanjo 21 күн бұрын

Thank you for sharing your knowledge, sir.

@georgedoolittle9015 16 күн бұрын

Happening right now on eBay as prices for Tesla battery electrics continue to go off a cliff whilst volume availability soars both new and used. Definitely has the *"feel"* of a deflation but haven't had a deflation in the USA since 1929 so don't really know what to make of the current situation "that feeling that where we are is some place we have never been before" George Carlin.

@matthewschoeniger2844 7 күн бұрын

I’ve been thinking this for years but any and all kinds of internal combustion vehicles ( non imported, and with no tweaks and tuning on engines and exhaust) need to only cost roughly $2000 max. This is 150 year old technology with no R&D needed moving forward. There is nothing “novel” to the automobile. Even with the reliance on more technology needed like “computers” and touch screen displays, this is all mass produced tech anyways- again, little or no research and development needed. Cars should be cheap - plain and simple

@jorelvasco5801 6 күн бұрын

105k miles 2006 GMC Envoy original engine. Daily Miami I 95 driver. Driven smokey mountains twice in 20 degree weather. No codes. All emmision sensors replaced. Happy life. Edit: I'm the second owner and I bought it last year for 3500 bucks cash from a buddy who works at a dealer i wont name and sold it to me behind their backs ;)

@boris1959 21 күн бұрын

100% correct Sir. Thank you.

@Reppondinvestments 18 күн бұрын

Thank you

@senmcquire 16 күн бұрын

I think the data point on jobs is a MISS. Government hiring leads the jobs numbers, more part time jobs than ever before, more people have multiple jobs and due to layoffs and severance packages thousands of jobs losses are not being reported yet. 2023 total revisions down from headline jobs numbers was over 1 Million.

@stephentormey5361 8 күн бұрын

I have a little 2003 Daihatsu ,and spend $40 a week on fuel ,no repayments ,is easy to park ,easy to drive and does not breakdown because the updates weren't installed . It has none of that stuff ! Just simple and easy mechanics .

@jackblack3886 16 күн бұрын

Happened upon your channel tonight. Many associates have told me this downturn is a slow crush in lieu of a crash. You have good info on serious subjects. I'm now subscribed!

@MetaView7 15 күн бұрын

Oct 87 can happen again, in a flash.

@KC-pm2mf 18 күн бұрын

That unemployment included under age of 18. Honestly these age don’t have to work.

@onebridge7231 16 күн бұрын

Not always true. I started working at 16 to help the family during low times. Worked in the family transmission shop at 10 years old cleaning transmission housings and learning how to fix cars. That was 40 years ago.

@Airbender-kl7cu 16 күн бұрын

Let alone, no real job-skills

@curiosi-tea6914 16 күн бұрын

That was in regards to China's economy. They put their population to work right out of the womb.

@michaeltiedt6376 16 күн бұрын

What your son told you is exactly what a german gold dealer told me.

@isaacchapman7628 16 сағат бұрын

3 years ago I hit a deer and totaled my first car. Ended up buying a 2005 Corolla for $400 in a "get my kid's first car out of my freaking driveway" sale. She runs beautifully and gets me anywhere I need to go.

@desrender4893 7 күн бұрын

10yrs ago, I was needed to replace my vehicle, and I was not happy with modern vehicles, too many electronics and o/priced. I was due to retire, so worked out my needs, I wanted to be able to travel, enjoy riding my motorcycles, and generally exploring. I purchased a small Japanese box truck, for $6000, it had only done 50,000 MLS. Its my dump truck, mobile workshop, and camping truck, which also carries my toys, my bikes. Since I am single I went and purchased a TJ wrangler, known for their reliability and looking cool, also their looks don't age, once again cheap and low milage. I do 75% of my own maintenance to keep running costs down. I expect these vehicles to do me until I pass from this planet

@hishamelkholy9614 16 күн бұрын

It’s 50/50 But the top fifty percent is in very reasonable shape.

@ytSuns26 15 күн бұрын

Well seems even that segment is becoming more conservative . The guys at the top feast on the bottom , when the bottom gets skinny the top half gets hungry.

@idrissamorehouse322 11 күн бұрын

THANK YOU!! just came in from our community get together and I was explaining these exact same points!! Great Video!

@iancormie9916 17 күн бұрын

We saw the same thing during the GWBush years. That fool pushed consumers to shop till they dropped. Adding to this, surplus wall street investment money and banks flooded the banks with excess liquidity and bubbkes developed. 2008 occurred and we learned nothing. Today, things are much worse and a major correction is coming.

@patriciocastro391 6 күн бұрын

My 2009 Toyota Yaris hatchback is easy to fix, it gives 34 mpg and is paid off, what else do I need?

@garywanner7860 11 күн бұрын

You drive an old truck because you’re a smart guy.

@Reppondinvestments 10 күн бұрын

Thank you

@chrzanik666 21 күн бұрын

In UK new vans that used to cost around 25k still too much, now 60k and 8months waiting. Used market is gone insane 20k for 100000miles used banged up work van. Squeeze became a strangulation, tyranny and open season to kill of real tax payers small and medium business.

@adolphoxy 10 күн бұрын

I have actually bought a used electric vehicle for $20k and I had the solar infrastructure in place to eliminate my energy requirements for transportation. !The sun is free; invest in home solar; prices are going down and efficiency is going up…It will save you from having to pay Utilities and Gasoline price hikes due to geopolitical factors and commodity gyrations!!!.

@das250250 14 күн бұрын

@29:00 are those sales slowing coming from say China or within USA ? It is an important distinction to know where that market is slowing if not across all .