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RECESSION HITS the WEALTHY! More Economic Slowdown Predicted forMidyear!
You know things are getting worse during Bush's recession when the
nation's semi-upper-crust puts off buying their Lexus and Mercedes luxury cars. It seems The RECESSION is not just for we "little people" anymore. ----------------------- "BUSINESS BRIEFING" AUTOMOTIVE Lexus, Mercedes Sales Fall in U.S. U.S. sales of luxury auto brands including Toyota Motor's Lexus and Daimler's Mercedes-Benz fell in April, adding to evidence that the economic slowdown is causing even wealthy buyers to curb spending. Sales by automakers' luxury divisions -- broadly defined by analysts as those selling autos for $40,000 aimed at the most-affluent consumers -- dropped 13 percent from a year earlier, according to Autodata. That outpaced the 8.9 percent decline in sales of all vehicles. The results reflect the run-up in gasoline prices, dropping real estate values and tighter credit that forecasters said may halt economic growth by midyear. Sagging stock markets and shrinking bonuses may also be weighing on premium-brand buyers, Autodata said. http://www.washingtonpost.com/wp-dyn...040203660.html |
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#2
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RECESSION HITS the WEALTHY! More Economic Slowdown Predicted forMidyear!
Well, guess the BUSH RECESSION has no end in sight.
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#3
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RECESSION HITS the WEALTHY! More Economic Slowdown Predicted forMidyear!
On May 3, 4:04*pm, Chemical Ali > wrote:
> Well, guess the BUSH RECESSION has no end in sight. It does give all sorts of investment opportunities in alternative energy situations. -- Ron |
#4
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RECESSION HITS the WEALTHY! More Economic Slowdown Predicted forMidyear!
On 3 May, 09:24, Chemical Ali > wrote:
> You know things are getting worse during Bush's recession when the > nation's semi-upper-crust puts off buying their Lexus and Mercedes > luxury cars. > > It seems The RECESSION is not just for we "little people" anymore. > > ----------------------- > "BUSINESS BRIEFING" > > AUTOMOTIVE > > Lexus, Mercedes Sales Fall in U.S. > > U.S. sales of luxury auto brands including Toyota Motor's Lexus and > Daimler's Mercedes-Benz fell in April, adding to evidence that the > economic slowdown is causing even wealthy buyers to curb spending. > > Sales by automakers' luxury divisions -- broadly defined by analysts > as those selling autos for $40,000 aimed at the most-affluent > consumers -- dropped 13 percent from a year earlier, according to > Autodata. That outpaced the 8.9 percent decline in sales of all > vehicles. > > The results reflect the run-up in gasoline prices, dropping real > estate values and tighter credit that forecasters said may halt > economic growth by midyear. Sagging stock markets and shrinking > bonuses may also be weighing on premium-brand buyers, Autodata said. > > http://www.washingtonpost.com/wp-dyn...08/05/02/AR200... This is an example of deflation. Credit has been restricted. The people who would have borrowed thousands of dollars to buy a new motor car can not get finance. So sales of motor cars are down. People who were relying on credit for day to day expenses can have big problems when credit is restricted. Often they are forced to sell assets to meet living expenses. When many people want to sell and few have the means to buy prices fall. Cash becomes king. |
#5
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RECESSION HITS the WEALTHY! More Economic Slowdown Predicted for Midyear!
"Chemical Ali" > wrote > > Lexus, Mercedes Sales Fall in U.S. > > > U.S. sales of luxury auto brands including Toyota Motor's Lexus and > Daimler's Mercedes-Benz fell in April, adding to evidence that the > economic slowdown is causing even wealthy buyers to curb spending. No. Many buyers of BMWs, BENZ, and Lexus the last few years have been very middle class people who bought those cars using HELOC money or easy finance money. They made these dumb financial moves so that they could impress people they never even spoke to. Now that the easy credit is gone, people have to live within their means. I doubt that the "wealthy" will be curbing their spending any time soon. The Washington Post writer should have known that. |
#6
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RECESSION HITS the WEALTHY! More Economic Slowdown Predicted forMidyear!
Why would tight credit restrict the sale of luxury vehicles? Don't
most such vehicles get paid for in cash? I guess I balance my own checkbooks yet and I find that automatic deduction for stuff is just too distracting, so why do it? Sure you can make more investing with your money than what it costs in interest, but it is just such a pain filling out all the forms and stuff. Same thing for leasing - just a big tax shuffle which ends up costing you money due to the interest and higher accounting costs, etc. |
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