Anyone else holding out for new 2013 Chevy/GMC truck?

[two_bit_score]

Yep, that's a good one, MTM!

 

[Cat_Driver]

The best truck that would have hit the market id this one. A Toyota Dually with a HINO diesel. I've had Hino diesels in all my Box delivery vans and have never put a nickel in repairs and never been in the shop. Of the three trucks I have that get beat up by my drivers not one has failed me. One is going on 20 years now.

Google Image Result for http://cache.jalopnik.com/assets/images/12/2008/11/medium_Toyota-Tundra-Diesel-Dually.jpg

 

[two_bit_score]

The best truck that would have hit the market id this one. A Toyota Dually with a HINO diesel. I've had Hino diesels in all my Box delivery vans and have never put a nickel in repairs and never been in the shop. Of the three trucks I have that get beat up by my drivers not one has failed me. One is going on 20 years now.

Google Image Result for http://cache.jalopnik.com/assets/images/12/2008/11/medium_Toyota-Tundra-Diesel-Dually.jpg

An 8.0 liter in line 6 diesel does sound like a monster.

 

[rasimmo]

I would stand in line for that one. There was a lot of hype about it a few years back. If the economy had not went so far south they may have persued it more. Hopefully it is not totally forgotten.

 

[mjncad]

It should anger you that the financial system is so fragile that it can't absorb a write-down or wipe-out of $500bln of sovereign debt.

It does anger me.

This would not be a bad problem if there wasn't so much rampant speculation (rather than actual investing) and if our system of fractional deposit banking actually had effective rules, and a sane requirement for maintaining reserve vault cash or fed deposits.

That's where I maintain the Gummint should act as referee of a sane set of rules. A friend of mine follows investing far more than I do, and his opinion is that derivatives are so blasted complicated that it's no wonder things have gone wrong as a result of complicated investment vehicles few people understand.

Credit default swaps and similar instruments have created this systemic fragility and the only way we are ever going to have stability is for politicians to enforce the rules we have, improve and update rules where the state of the industry has surpassed the imagination of past rule-makers, and for the system to gradually adapt to rules designed to reduce systemic risk (which will mean less short/medium-term profit for banks and Wall Street types.)

Agreed.

But the wool being pulled over peoples' eyes is that our economic problem has anything at all to do with government debt. It doesn't. That is a long-term problem which we should fix, but now is the absolute worst time to try to fix it.

I disagree here. The politicians keep saying now is not the time to fix the debt. So when is the time?

Sorry that wasn't about the ugly Chevy concept truck. But seriously, if you think Greece is to blame for the world's continuing economic struggle, I really wish you would reconsider. $0.02.

Greece is a symptom, and if this symptom can cause so much mayhem in the markets; just imagine what would happen if major economies caused the same symptoms.

You didn't supply any specifics but with a 3 year 36,000 mile bumper to bumper, a 100,000 mile 5 year power train warranty, it is hard to understand how the truck nickle dimed you.

You are correct, I should have taken the time to add more details. The POS in question was an '83 S-10 that I ordered new from the factory. That thing was the Vega Incarnate as far as I'm concerned, and turned this former GM man into a GM basher.

Matt, This snowball started rolling in the USA because of irresponsible lending, and living on a credit. Then later, the PIGS countries showed that they didnt have the financial discipline to spend no more than they have, either. Here in Holland, luckily just one tiny bank rolled. Its the same problem on both sides of the Atlantic. 3rd world countries like China and Brazil have a wonderful credit status... the Western world is borrowing from THEM because we didnt carry our blessings responsibly. now THATS whats actually bothering me most. If nobody in the Western world changes their attitude, a country like China, with no human rights, freedom of speech, not any of the freedom we fought for, can catch up with us.... I'm not afraid of them trying to conquer us, but letting that happen is just a d*mn shame on all of us !

Fact is that the world is a marketplace: I have said this before, but without cheap manufacturing from 3rd world countries, neither of us could live by the wealthy standard we live today: People that yell "buy USA" usually dont realise that they probably cant afford the cost of 100% USA labour. Unless they accept less "car" for their money.

Renze, as an American, I am absolutely disguted by the fiscal irresponsibility of out federal, state, and local governments.

I doubt run away cars is part of any training police or otherwise.

If not, that is plain frakking scary, or does it cut into cops' donut eating training?

 

[jeffsw6]

I disagree here. The politicians keep saying now is not the time to fix the debt. So when is the time?

Government should reduce its spending when unemployment is low. It should INCREASE spending when unemployment is high. This is nothing new -- put any ten economists in a room and half of them will say that the way to stimulate a weak economy is to run up government deficits and pay them back during boom times.

The other half will say cut taxes. They're still saying that now, of course, but those half of the economists (and politicians) don't want to cut taxes on working people. They want to cut taxes on companies and wealthy people. That's idiotic, a lot of people have been saying it is idiotic for decades, and we now have a situation that makes that pretty self-evident: tax rates leading up to the 2008 downturn, and continuing today, are lower than they have been in my entire life (and most other readers' lives too) yet rich people aren't rushing out to start a new business here in the U.S. because of that. They are investing their money in emerging markets where there is more growth potential.

Bush and his party had the opportunity to cut spending and they failed. What they did was blow up the federal debt by cutting taxes without cutting spending during a time when the economy was quite healthy -- the best time for government to reduce its expenditures. Instead, they believed cutting taxes would stimulate the economy and grow the tax base, but as many economists have been saying for decades, the real world does not function that way. It especially doesn't function that way now that the wealthy have plenty of opportunities to invest in places that aren't the U.S.

I'm all for less government, but right now the government's cost of borrowing money is less than zero. Labor is also cheap. Materials are cheaper than they will be when the economy eventually rights itself. Right now the government should be blowing money like it's going out of style on things that are actually useful to us -- highways and bridges are as good a place as any to start.

There is no excuse for people who worry about the deficit when bridges are falling down (literally) and unemployment is 10% and you can hire enough labor that you can get projects done without spending money on overtime, at a time when the government can borrow money and effectively pay back less of it than it borrowed (in Real dollars.)

I don't think there is any excuse for people who aren't in favor of government belt-tightening when unemployment is low and the government's cost of borrowing is higher, either. But the right way to do this is not to throw tax breaks at rich people and huge corporations -- that's stupid because those people and companies are far more likely to invest overseas than they are here. What should be done is the tax code should be greatly simplified so you don't even need an accountant to figure your tax at the end of the year -- let alone some $300/hour financial wizard who pours over changes in the tax code every year and figures out just how to game the system to minimize your tax burden. Who can afford that? Obviously the big companies and rich people can, but small businesses ... not so much!

Anyway, it's just my $0.02, feel free to disagree with me, but I believe that any person should be able to understand that 1) high unemployment lowers the cost of big infrastructure projects; 2) this country needs a lot of big infrastructure projects; and 3) government cost of borrowing is lower now than it may ever be at any time in the future. They should also be able to understand that 4) low unemployment means the economy can more easily absorb reductions in government spending, which often eliminate jobs directly or indirectly. Finally, they should be able to understand that 5) the government providing a counter-balance to the private-sector boom-bust cycle is good for working people.

 

[Renze]

Renze, as an American, I am absolutely disguted by the fiscal irresponsibility of out federal, state, and local governments.

Many people think that the US economy is too big to fail, and is insensitive to world markets: Well thats certainly not the case. The world markets are so intertwined that a credit crisis spreads around the world in months. It started in the USA, when the USA was recovering, this virus infected the weak Greek economy and then recoiled in the USA.

The USA is in the news for problems with major infrastructural structures, like bridges: Why ? Because the government didnt have the guts to raise taxes from the voters, in order to fund the maintenance of public facilities...

Credit is like cocain: As long as you take credit, as long as you can get it you can take what you want, but you need more and more to keep it up. Untill you cant afford it anymore, then you're a wreck in no-time and you realise what you've been doing all the time.

I truely hope that voters will not live on in ignorance, but get informed, and realise what has to be done. It takes a boatloat of guts, for a president to push unpopular measures, if the voter simply doesnt want to give in, and ignores the necessity

 

[Monster5601]

You are 100% wrong about what you think I am assuming.

Let me try one more time:

The Production / Manufacturing process creates JOBS.

Which would you rather have:

Profits stay in USA - JOBS go off shore?

JOBS stay in USA - Profits go Offshore?

Why can't I have this option:
Profits stay here and jobs stay here.

You seem to think that PROFIT is the key to the economy. If you stop and think about it for a while a company could operate very successfully for years and not show $0.01 of PROFIT on their annual financial statements.
Keeping America's wealth here is what is important.

Since GM seems to be everyone's favorite whipping boy, surely you are aware that they operated and provided employment for thousands while at the same time incurring $$$ Billions in losses.
They did at one time but are showing strong profits lately.

Buy American.

 

[Renze]

Why can't I have this option:
Profits stay here and jobs stay here.

Increasing the cost of goods by local manufacturing would mean that the price of cars, consumer goods etcetera will skyrocket and many wouldnt be able to afford it anymore.

Only because 3rd world countries produce for us, we can buy cheap cars, fridges, X-boxes, you name it. In other words, the wealth we enjoy today, is because 3rd world countries allow us to spend our money on cheap products.

I work at a small wheel loader manufacturer in Holland. We have our frames welded in Slovakia, but do the assembly in Holland, to maintain our flexibility and to keep the technology and knowledge in-house. The labour cost in Holland is 66 euro per hour. The Slovakians cost 25 euro per hour. If we hadnt outsourced basic level labour, we would have been out of business 20 years ago, by strong worldwide competition. Cat and Volvo produce in western countries too, but because of their scale, they can afford automated production lines which require very little man labour, and therefor afford production in Western countries.


Even IF stuff has been produced in the USA, it would have been produced by automated machinery, not by workers.
By increasing wages we can afford more, but this also endagers our jobs... In other words, wealth is biting us in the ***** this way...

Socialist governments already tried to defy economic laws to generate jobs, and tried to interfere with the market... History proved it didnt work.

 

[JasG]

Many people think that the US economy is too big to fail, and is insensitive to world markets: Well thats certainly not the case. The world markets are so intertwined that a credit crisis spreads around the world in months. It started in the USA, when the USA was recovering, this virus infected the weak Greek economy and then recoiled in the USA.

The USA is in the news for problems with major infrastructural structures, like bridges: Why ? Because the government didnt have the guts to raise taxes from the voters, in order to fund the maintenance of public facilities...

Credit is like cocain: As long as you take credit, as long as you can get it you can take what you want, but you need more and more to keep it up. Untill you cant afford it anymore, then you're a wreck in no-time and you realise what you've been doing all the time.

I truely hope that voters will not live on in ignorance, but get informed, and realise what has to be done. It takes a boatloat of guts, for a president to push unpopular measures, if the voter simply doesnt want to give in, and ignores the necessity

I agree with most of your post except the part about raising taxes. The issues is our tax code period, not the rate. Politicians have used the tax code to punish and reward people. Much of the money gets pi$$ed away on pet projects that some elected official expects to get campaign money back in exchange for. Our tax code is so vast that on one person understands it. Right now between 40-50% of houshold pay no federal income tax and many of those get money from the government.

Of course we had the 800 billion dollar stimulus that was suppose to be for "shovel ready" projects. It was suppose to rebuild our road and bridges. instead it went BS projects.

We could give every nickel we have to DC and they would piss away all of it. Each persons share of the US debt is over $50000.00 right now, that is for every man, woman, and child. This year ths US spent over $12000.00 for every person. So my family of 4 the US has over $200000.00 of debt, and added over $48000.00. I don't care how high you raise taxes, it is just not enough.

Here are a few examples of money just thrown away.
http://www.whatamimissinghere.com/archives/3560

Of course from what I have read Europe has done about the same.