New Tractor Sales Are Declining

[Hay Dude]

The Ford Truck forum I'm on is a mess, just an absolute mess. Folks upset that trucks cost double what they did a decade ago, they complain, and then the folks that get off on paying too much move in and talk about how if those people worked harder they could afford it.

Watching a retired 70 year old with a $100k F450 lecture a 30 year old contractor about money is absolutely grotesque; the world isn't the same, our money isn't the same as it was. The post-9/11 world has been a shitshow that's become progressively worse.

And it just keeps getting worse for small businesses. Although many people “walked away” and started their own businesses because of Covid, small business success is much harder to achieve in the US than it ever was.
My business insurance has DOUBLED in the last 3 years. I asked my agent why. He said inflation has caused replacement values to go so high, that insurance companies are covering themselves for their potential losses.
I bid my last few jobs extra high to compensate for my new extra expenses. Most Customers can’t believe these new prices. I tell them “you wouldn’t believe my expenses”.

 

[Citydude]

The Ford Truck forum I'm on is a mess, just an absolute mess. Folks upset that trucks cost double what they did a decade ago, they complain, and then the folks that get off on paying too much move in and talk about how if those people worked harder they could afford it.

Watching a retired 70 year old with a $100k F450 lecture a 30 year old contractor about money is absolutely grotesque; the world isn't the same, our money isn't the same as it was. The post-9/11 world has been a shitshow that's become progressively worse.

Those that paid the "dealer market adjustment" price of between 5K-10K were bent over paying it.

 

[2manyrocks]

It's a total flip flop to have a situation where the MSRP is the starting point for negotiating how much a buyer will pay over list price for a car. Also insane that real estate buyers were bidding over list price, over appraised value, and waiving inspections to buy a house.

All these price increases have driven up insurance costs because of the high cost of repairs.

I think the Federal Reserve gradually raised interest rates at a modest pace only to try to put out the dumpster fire they started. It would take another 2008 type economic event to bring prices back down to reality.

 

[alexpops]

Looks like we are finally reaching the Minsky moment despite all the efforts to avoid it since 2008. Will be great for anyone with significant cash & liquidity, very bad for anyone reliant on credit. Not sure where the trigger will come from ... commercial RE defaults? Federal shutdown/default over debt ceiling? New regulation of banks? Government pension underfunding? Blow out in credit spreads? Whatever it winds up being, the party is almost over & asset values will reach "once in a lifetime" levels that should permit anyone with cash & balls to fare extremely well on the other side of this.

 

[5030]

Its starting to look like the banking crisis is about to get much worse.

..and you know who's campaign slogan is 'Finish the Job'. Getting pretty finished already from what I see.

 

[2manyrocks]

Sounds like a bank heist

 

[Tinhack]

Foreclosures and repossessions are up. Savings are diminishing. There is one predictable outcome of that... Less consuming.

Have you guys been getting all the credit card offers lately? That or they're pushing balance transfers like there's no tomorrow. Perhaps there isn't. I think the only way banks will survive is having "debt assets" on the books. I can't see any other reason for the heavy push to buy something. The third major bank just crashed and burned. JPM took over but that can't go on forever. I think there's more to come.

Prices are just too high right now. The dollar is falling faster than a rock. The budget everyone on capitol hill is fighting over just proves failure is near. The next recession is just around the corner. Unless your income is flexible to the high side, I wouldn't be buying anything right now. Those of us on fixed income can't afford to buy anything but the credit providers are hungry to sell.

I've been wanting to buy a ditch/bank mower but those have gone up over 30-40% since the beginning of the year. That's outrageous! They haven't improved 30-40%. I'm holding on to my cash for now.

 

[TN8Man]

THIS is what I am worried about, too. The less fortunate people who cannot pay their bills because of record inflation caused by avoidable, unnecessarily high inflation!!! We are not being helped by our “leaders” policies.

Our leaders not only don't care ... they are in part the cause

 

[TN8Man]

Sounds like a bank heist

Bank heist in reverse, just like during the 2008 crisis. Now the big international banks are going to swallow up the smaller banks and credit unions.

 

[Hay Dude]

Bank heist in reverse, just like during the 2008 crisis. Now the big international banks are going to swallow up the smaller banks and credit unions.

That’s part of the plan. Soon we will only have 5-10 huge banks and “digital currency”
Woo-hoo!!!
Sign me up baby!
Lovin’ me some of this NEW economy

Maybe I’ll switch to J.P. Morgan Chase so Jamie Dimon can take my money and buy up farm land with it?