4.2 Million UNSOLD Cars Pile Up! Economy Is So Great 6000+ Stores Are Closing In 2019
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Building things and letting them sit in warehouses, factories, parking lots, or building completely empty cities is not a strong economy. I don’t know why I have to argue this point. It’s completely ludicrous.
Yet so many are in denial… ‘Everything’s fine…didn’t we just get a great jobs report?’.
I appreciate this insight. Just started a business, and I am looking at renting office space for employees. All the office space is vacant, and the landlords won’t negotiate on price. I laugh in their face and plan on waiting them out. I can’t comprehend why they won’t take 30 cents a square foot for a place that will sit empty for the next 4 years, but one day one of them will realize that they just wasted 4 years getting $0.00/sq ft
I have a question for you. capitalism is based on the notion of perpetual growth. What would be a better economic system.
That’s why I say: “Watch for great strides in living off planet.” Just send some bankers off planet to trade with the “Earth based” ones… it always comes down to money.
@Koin King that’s because they can’t mentally deal with the fact that they’re wrong … they’re narcissists and when 2/3 of the population suffers from collective narcissism, we call it a fascist shithole … the west is nothing but a massive fascist shithole
let it burn!
I agree with you 120%!!!
I am a trucker and I see the closed stores , people living in tents and living in cars all over ,especially in the Western USA STATES, mostly females moving to Midwest STATES, ETC (they’re gonna mess up the economy there too)…
They don’t want to pull off the rose glasses of American dream/ fantasy from those people whom are still not looking at reality in all its capacities..
When an industry doesn’t follow supply and demand, that industry tends to collapse. When too much of something is produced, prices should be modified to nullify loss. That’s 4.2 million units of dead loss the industry suffers partially because of governments propping then up. Better to sell at a loss than to not sell at all. Look at the stock prices of automakers. Steady decline over the last 5 years. If you need a 7 year loan to buy a car, that means they are too expensive.
Gotta love those car mortgages.
Storage costs will continue to rise and producers will have take a massive loss on future sales.
Our people are so naive about our real economic situation, here in USA. As our economy is : just make believe. Peace and love brothers.
If it’s just make believe. Then it doesn’t matter.
They will just give you more debt. Problem solved.
You don’t have to be Einstein to figure out that if consumer consumption is 70% of the US economy and the consumer is tapped out that nothing good is going to come of that situation.
Matter AntiMatter – Yeah Buddy!! You find no parking lot money on pavement at stores and even flea markets are dam near abandoned WHERE YOU CAN BUY ALL KINDS OF $HIT IF YOU HAVE THE MONEY, BUT NOBODY DOES!
MatterAntiMatter: EXACTLY ! The “Debt Bomb” is ready to explode, and it will take down the economy with it.
Most of those wounds are self-inflicted.
Diaper Trumpet’s dirty diaper is leaking hot mustard.
Hopefully they start cutting prices so I can have an excuse to go into debt to help contribute to the problem!
Buy a new SUV! Great deals on Ford Escape SE AWD and it’s a best seller. I just got a new ’19 🙂
I love listening to this guy speak straight facts ???
he should do more videos like this, because there is no more action movies at the theatre
I agree with most of what you said. At the same time I don’t want a brand new car that loses 20%+ in 1 year. I’ll keep rocking my 11 yr paid off car
Car sales for the last few years have been on the decline, the big three had dropped many car lines and replaced with SUV’s ,truck’s ect
They will just give you more debt. Problem solved.
the irony in a way is that people who drive suv’s and trucks sometimes ‘ tend ‘ to think they are somebody but they are not as literally everyone has either an SUV or a truck, or at least 90% of people it seems- I live in Idaho, low wage state and everyone has one
@KonoSuba this Wonderful World Chrysler only has one or two cars left in a year Chrysler will only be a memory
kevin cow 4 door pickups are ideal for soldiers. They can be conscripted under Martial Law.
You are absolutely correct in the video. However when folks want to spin it, lie etc., and they have the ability to manipulate numbers (becasuse they are the ones releasing the data), it makes it very hard for the truth to come out. Please keep highlighting the truth. Great work! Thank You!
Not only not sales but many people defaulting car loans
renegado100 In US can you just walk away from the car loans just like with homes?
Car finance will create the next collapse
Jon S you can walk away,but they’ll take the car and sell it. They’ll charge you the difference from the sale,so you won’t have a car but still owe money.
…don’t buy cars you can’t afford
buy a used POS or save up and buy a better/newer car with cash
if you have 30k or less a year, and you buy a 30k+ automobile… then you royally fucked up.
@Milan Davitkov
we can’t just throw away personal responsibility here. I know there are plenty of people who are struggling right now, but plenty of them have done it to themselves.
People buying cars they can’t afford INSTEAD of a cheap used car they CAN afford.
People willing going into THOUSANDS of dollars in credit card debt, buying bullshit to live a classier lifestyle and impress people on Instagram…
the system is screwed up… but people are also fucking themselves over as well, and I have little sympathy of the latter
Turned off my TV in 2010, no news
I dont need intruders in my house the TV is an intruder, even back then i knew the news was crap.
Thanks for your work.
but news moves the stock price
Len Hart I am in full agreement with your comment! I got rid of all associated television propaganda 2 years ago. I get all of my information on youtube particularly Money GPS…This man really gets it! So glad I stumbled across this channel.
Haven’t watched the boob-tube for a little over 2 years now. I sometimes see a local news show and it is all the same crap. Used to like watching sports but the over-paid prima-donnas kneeling kind of put me off that too. 2 weeks ago a ballistic missile factory in Russia was burning out of control and not a peep out of the MSM, the big news was Joe Biden tossing his hair sniffing hat in the ring, who TF cares.
Tv lol what’s that
I got rid of my TV set in 1992. I spend most of my free time gardening, walking around in nearby forest and along streams .
Brilliant! Thank you for doing such a thorough job filling in the essential information gaps.
Monumentally important. The single best indicator for future stock market performance is current sales. Another very good indicator is shipping volume would you’ve done another videos. The fact that car companies are stockpiling vehicles because of poor sales indicates to me very bad performance in Q4 and early next year. Look out for a recession to begin officially starting then. I believe that we are already in a recession but of course the government stock market don’t like to take note of that.
We were warned by the 1988 economist magazine cover and the 2019 cover as well. The plan is to have crypto / internet banking – a cashless society- the internet of things and smart cities . Thank you for all time an information sharing .
Thank you David for your great books and your great videos. Thank you for your work
David, if auto manufacturers start selling these cars and pick ups for what they’re really worth, they could sell a bunch of them. In my opinion, you should be able to get a light duty truck for around ten thousand dollars and full size sedans for a about eight thousand dollars. I know, of course, car makers won’t do this because they’re greedy, so I’ll just keep making my ’98 Chevy go for a couple more years and when I’ve gotten all I can get out of it, I’ll buy another used one from an individual and no car dealers. Talk about cut off your nose to spite your face. I don’t feel sorry for these corporations, at all.
I’m still on the banksters responsible for the financial crisis and why they haven’t been put in jail. Unbelievable
Bullion Forever Bankers and big Corporations get bail out while the hard working individuals loses their homes. Thank you Mr. President
Bullion Forever – The problem is they were, and still are busy spending their huge bonuses, so have no time to be bothered with being charged, going to court, getting convicted then sentenced, and heaven forbid going for long vacations at the Graybar Hotel!! Who did you think they were…commoners?
Brian Waller that is fact that you just stated. I wonder who got the inside trade information on Trumps tweeting out new tariff threats to China! Making money while the masses loose money. They can just flip a switch when it comes to the market and walk off with money from the masses while we the masses are left with nothing.
Jerry S – The masses of which you speak today are so slow, so inept, so wrapped up in their “smart phone”, & w/little to no common sense, you really don’t have to use the “m” in your word to describe ’em!! Even Trump goes to Jared w/no security clearance as Top Adviser!!
They need a plunge protection team for cars, houses, and retail spaces.