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Every year, fewer Americans can afford to buy any kind of car — the way they’re used to buying them, on installment loans. Bear in mind the original suburbanization of America back in the 20.
The industry has gone the limit to help them — seven-year loans for used cars! So, a rebuild of all this stuff would represent more and possibly even greater malinvestment.
I suspect most people assume this means a trillion-dollar stimulus spend on highways and their accessories.
Well, that also assumes that we expect another fifty years of Happy Motoring and suburban living. We’re in the twilight of motoring anyway you cut it, despite all the chatter about electric cars and “driverless” cars.
We won’t have the electric capacity to switch over the Happy Motoring fleet from gasoline.
The current narrative weaves an expectation that manufacturing industry will return to the USA complete with all the 1962-vintage societal benefits of great-paying blue collar jobs, plus an orgy of infrastructure-building.
I think both ideas are flawed, even allowing for good intentions.
American Notes Apart from all the ill-feeling about the election, one constant ‘out there’ since November 8 is the Ayn Randian rapture that infects the money scene.