How insane is this? You would’ve thought they would’ve learned from the 2009 meltdown that giving mortgages to people who probably can’t afford them is a bad idea. Nope. They want to do more, and undoubtedly when it fails they will definitely be seeking more government bailouts.
Short version: Cab owners got pissed because of Uber and Lyft doing what they did but without the government protected monopoly part. They pushed a case all the way to the Georgia Supreme Court where they were basically told to pound sand. Full story at the link below.
There has never been a shortage of GOP substitutes for Obamacare, from think tank white papers to congressional committee frameworks to fully drafted bills. But in the seven years that congressional Republicans spent promising to repeal and replace President Obama’s health care law, none ever moved beyond the development phase, because what Republicans lacked wasn’t a plan. It was a theory.
Yep. They couldn’t even come up with a unified message on the thing they sold for 8 years.
A few years ago I wrote a deep analytic piece on GM and projected that for the US to recoup its investment, it would take a stock price of $53, which GM, to this day, has not hit. Even moreso, we’re seeing more sub-prime auto loans, and more people stretching the loans they get to 5, 6, and even 7 years.
Finally, we’re seeing new car inventory sitting in storage.
None of those things are good indications for the US auto manufacturing sector, which makes sense because US cars are generally garbage and the only reason people buy them is that they feel an obligation to “workers.”
Simply stated, greedy politicians in a state like California can boost tax rates and soothe anxious state taxpayers by telling them that they can use their higher payments to Sacramento as a deduction to reduce their payments to Washington.
What’s ironic about this loophole is that it’s basically a write-off for the rich. Only 30 percent of all taxpayers utilize the deduction for state and local taxes. But they’re not evenly distributed by income.
I always thought the concept of “buy on the rumor, sell on the news” was basic stuff? Apparently people still doubt it?
Zero Hedge takes you chart by chart through the bubble that is the automotive loan boom.