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No. I hate the thought of a complex stimulus package. The most complex things in the world often have a simple answer and in this case a tax cut instantly puts money where it is needed and either gets spent, saved or pays off debt. Spending helps the economy instantly. Savings or debt repayment strengthens bank Balance Sheets and gets to the economy in a delayed, but building basis. Having more disposable cash instantly strengthens consumer confidence. All those trillions you are worried about are paper writedowns that ease substantially as soon as real estate comes back and the latter happens with bank lending, and the latter only returns to a reasonable level when the Balance Sheets get stronger.
Charlie,
Agree with you on Obama but actions speak louder than words. If I were him I'd have told Congress (mandated in fact) that you guys can fight about $200-300bln in in a stimulus bill all you want. Right now I want two things passed in 7 days with no squabbling: a personal tax cut and a corporate tax cut, end of story. Obama would be my hero if he took that level of command and control. Right now he's going to have a lot of folks test his strength and resolve. The best way to deal with that is to be so strong and so bold that you don't allow the test of strength to happen in the first place.
Yes, and this way, he can admonish Congress for the plan that will be reality without the necessary tax cuts, I'm afraid.
What is the argument against tax cuts? Not enough revenue to pay back irresponsible government spending? Like an Auto bailout that will sap even more from the economy? The parts suppliers want theirs and Chrysler is buying out UAW workers for $50,000 incentive plus a $25,000 voucher for a new car purchase!
I love paying for this stuff!
In the imitable words of Yakov Smirnoff:
"America: What a country!"
Regards,
OW
Indeed, sighing at even the thought of having to drive that ES was hilarious. The shots at M-B and BMW were funny too, though not quite as good as when Audi absolutely skewered them in the "Meet the Beckers" ad. For those that haven't seen them:
Audi Superbowl ad
Click on "continue the chase" at the end for a few more humorous shots at MB, BMW, and Lexus
Meet the Beckers 1
Meet the Beckers 2
2) Government Spending Stimulus?
Which of the above is the solution?
Neither!
Today is not a Great Depression but a Great Repression.
What is being repressed? The fact that nobody wants to acknowledge that the Government, consumers and corporations (especially banks) are bogged down by excessive debts.
How on earth can anyone talk about tax cuts or higher government spending when the end result is additional debt. How on earth can excessive debt be solved with new debts?
This is madness but very few can see this madness because nobody wants to see the truth: Living standards today are far too high and will have to drop no matter what the Government does. Opulence based mainly on borrowed money and not on earnings is like building a house on sand.
Burying your head in the sand with this notion about tax cuts is not going to make the problem disappear. The economy has been over-stimulated for too many years. More stimulus with more debt will only make the situation worse .
It could be their unique riveting and bonding technique that is used in assembly of their cars. From what I understand, using this technique, Jaguar is pretty much the only mass-automaker to do so in this manner. I remember when the '04 Jaguar first came out and Jag showed it in the bare aluminum, and that's when I saw the painful detailing that goes into building a car this way. The domestics will never do it like this, as much as I wish them the very best because 10's of thousands of workers depend on it.
Yeah, Clarkson pointed out on TG awhile back that while Audi's ASF bolts the body to the aluminum structure, the body of the XJ basically is the structure. That's how they are able to make it so lightweight.
Sure, we might pay down debt or save it, but in paying down debt, the banks balance sheets will be much more attractive and if we're saving(correctly), more money in the banks deposits, which generates more asking capital, which generates the possibility for the banks to start cross-lending to themselves and the consumer.
I just can't make the connection at giving tax breaks and fixing the econ in one trick bag. Unfortunately for most conservatives, this just simply isn't true as they'd have you believe.The Bush tax cuts helped the top 1% and them mostly alone. What happened with the other 95% or so citizens is where we are today: Overspent and Overdrawn.
OTOH, this thing is laden with pork that has to be put back on the smoker for another event. Thankfully, they removed the 200mil dollar provision for contraception. But 200 million for sod on the National Mall? 1bil for panda bear research? Trim the fat, add more for unemployment, add more for first time home buyers. and come up with a fair and sensible approach to keep people in their homes whom are facing foreclosure. Voila, we may be back on the right track!
That is true. Hence it's feline like responses, lioness-esque shape, and puma-like weight.
It is a technical masterpiece that unfortunately was not in the tastes of most Americans mouths. I liked it then and I still like it know, especially since there isn't one in every driveway. Makes me think of my Audi's...
It is a technical masterpiece........
For obvious reasons.... I'm loving this talk.
My recent re-connection with my XJ has been terrific. My teenage daughter is inherently not capable of appreciating the vehicle, but even my 9-year-old son loves that awesome Vanden Plas rear passenger lounge.
For me, I just love driving it. It amazes me. It really is a technical masterpiece, and it's excellence can be felt by the driver. In a sense I am lucky that even though I am being cut down to one car for a while, that it's a Jaguar XJ VandenPlas.
With its prices so pitifully low, I highly recommend (as I have in the past) an '05 or newer XJ to anyone that would spend just a wee bit more than the price of an economy car, and end up with an exquisite and elegant XJ. I sincerely believe that it's one of the best car buys in existence.
TM
Your saying this in the Luxury Lounge???
BLASPHEMY! JK, of course!
Sadly, we will all have to accept a lower expectation in the next decade, like it or not. Too much greed results in the equal amount of retraction.
Bye, Bye, BMW.
Regards,
OW
The consumers are already reversing what Dewey chastised. You need to face it and pay down your debt to solvency. This will take years to complete at the grass roots level.
It doesn't happen with one 7,000 page law with enough Porky Pig to feed Hawaii.
Balance, Balance, Balance...sort of like a BMW chassis.
Regards,
OW
Regards,
OW
Regards,
OW
You're words above reflects the auto industry today:
From the Financial Times Feb 2, 2009:
Disturbingly for the industry, there are signs of deeper shifts in consumer attitudes towards cars, notably among the younger people on which its future rests. Some studies show they will be less willing to spend on them than their parents – one by Toyota, the world’s largest carmaker, concluded recently that in the US “frugalism is the new cool”, according to Bob Carter, brand head in the country.
In America, the average age of trade-ins soared to 75 months at the end of last year, from 62 months in the final quarter of 2006. Since last October, US car sales have been lower than the annual scrappage rate of about 12.4m vehicles, meaning the number of cars on the road in the world’s largest car market is falling.
People around the world – even relatively well-off car buyers who have steady jobs and a decent disposable income, – are replacing their vehicles less often.
link title
US CEOs take home 344 times more than the average worker
So is the average Joe CEO worth 344 times more than an average worker?
Apparently corporate directors and shareholders think so.
Source: Financial Times
link title
Apparently corporate directors and shareholders think so.
They might think so but reality says absolutely not.
The pendulum is swinging the other way for awhile at least.
Regards,
OW
TM
Ofcourse I will lose but it will be fun anyways.
Update on my Prius:
I am checking various Toyota dealers who will pay me the highest amount for my BMW 335i. The equivalent sales tax amount of my trade-in will offset the sales tax amount of my Prius(based on Canadian tax laws)
If their offers are ridiculously low than I will sell it privately.
But I have decided 99.9999% that my next car will be a Prius.
There is also a .00005% chance of a Lexus RX450H or a hybrid Audi Q5 that will be out soon.
Thank you, thank you, thank you, Dewey!
We seem to have forgotten that our good fortune was originally based on hard work, resourcefulness & thrift. As recently as the early 1980s, we saved 10% of what we earned. In recent years, though, our savings rate has turned negative.
(I'm referring to the U.S. here, Dewey. I don't know what the Canadian savings rate was or is now.)
We can't expect to enjoy lasting prosperity until we kick the debt habit & become a nation of savers. I don't see how this stimulus package gets us there. IMO, we'd be far better off in the long run if we endured a couple of years of pain.
Of course I will lose but it will be fun anyways.
LOL... But, you neglected to factor in driver's handicap. The XJ might be faster, but in twenty years, I'm not all that confident of what my driving skills will be like.
I have decided 99.9999% that my next car will be a Prius.
Good to see you are keeping an open mind. (all 0.0001% worth)
(kidding aside, I'm envious... somehow I like the idea of that car a whole lot)
TM
Absolutely! Because he's working around the clock to inflate assets, the income statement, and his resulting bonus. Then he has to work even harder for bailout money when his asset Ponzi scheme ends.
Other than that discoloration and the brake dust I absolutely love this truck.
Regards:
OldCEM :shades:
Ziano Z-9 and Zaino Z-10 seems to work on beige/parchment seat stained by blue jeans.
My neighbor has a constant problem with his ivory (beige I think) seats of his RX 400H. Local Lexus dealer has changed leather on his seats twice under warranty.
Acura MDX parchment leather has same problem.
I somehow expected better from MB.
Best of luck.
BTW: I have always enjoyed your insightful posts
Wrong brand of jeans.
TM
Regards,
OW
The government wants to intervene because banks are not lending enough?
Did it ever occur to the bureaucrats that lending in a deteriorating economy increases non-performing loans and that more non-perfoming loans wil further destabilize the financial industry?
The governmernment wants stimulus because they are concerned that increased savings may have a negative affect on our economy.
Consumers are improving their financial well being with higher savings? Is that so bad? You certainly cannot tell a consumer to stop saving when they are faced with potential lay offs and a dismal future retirment plan.
The government is concerned because businesses are cutting back on their debts and improving their balance sheets for future uncertainty. Is that so bad?
Apparently it does seem bad for the government and that is why they are working over-time with the printing presses and new debts.
So why is the government behaving so irrationally by increasing debts to save us from our debt crisis?
"The Paradox of Thrift". This Keynsian theory is based on the notion that when the private sector declines the government should offset that decline in order to prevent a depression.
Unfortunately the 1930s and the FDR Era are irrelevant in this situation since government, consumer and corporate debts were not a big issues back then. Debts are a very big issue today and the biggest misfortune of all is that the government feels that our current situation resembles the less indebted 1930s.
Most ominous is the BUY AMERICAN proposal in the new stimulus package. Historically that proposal resembles the beginning of the trade wars during the 1930s. A trade war that made a potential recession into a 1930s Great Depression.
You can learn from history only if you consider the differences and similarities between the times. Unfortunately there are not that many good historians who are politicians.
Canadian savings rates have dropped substantially but are not as bad as recent US levels.
I will bid adieu regarding economics with these last words:
Consumption = Production
Anything that contradicts the above formula is called redistribution.
Redistributing money away from Peter to pay for John. Redistributing money from our children so we can continue our lifestyles. Redistributing money from future Americans to service payments to foreigners.
Now how about talking about luxury cars like the Prius.
LOL... OK, Dewey... Check this out.
Plug-in Toyota Prius coming in 2010, prototype averaging 65 mpg
TM
What will be the price difference for a plug in? Will it be worth it?
Is it really worth spending all that money on a car that has the driving excitement of a microwave for a mere 15 MPG?
Depending on the price this car may be overkill IMO.
If I end up with the new Prius one day... I'll want it with latest and greatest in fuel-saving technology. That's the whole point for me.
TM
I can hardly wait. :sick:
We're talking a quick charge of mere minutes and a massive travel range. They are now working out the logistics behind making it widely available.
Lithium ion batteries will end up being merely a good transition to the nano-technology batteries.
TM
Let's not forget that when you plug in a car, the fuel is being consumed somewhere - where the power plant is located. The power grid is going to have to be beefed up if we are all going to be charging our cars through it.
Even with nanotechnology, we are not yet ready to produce a "perpetual motion" engine!
Reinert said the fuel economy for the vehicle depends on the battery pack's capacity and how it is driven. In other words the fuel economy varies inversely with the application of one's right foot. "That difference is just magnified, supercharged, turbocharged with a plug-in electric because how fast you go really pulls the current out of the battery. It is a big deal."
link title
30 MPG economy car vs. 50 MPG Prius = 133 gallon savings per 10K Miles
50 MPG Prius vs. a 65 MPG Plugin Prius = 47 gallon savings per 10K miles
So how much will it cost to save 47 MPG per 10K miles? Is it worth a big premium price over a regular Prius? At least I dont think so.
Technology? Once upon a time not too long ago there were strong rumors about a 100 MPG Plug In Prius. Technology in cars is great but in all honesty the technology in the palm of my hand with all the features and available apps on my iphone is far more impressive than any car.
So... It makes sense to honor the benchmark. It points the way and sets the next goal to overtake and surpass.
BTW, you probably read about the history of the Prius. Toyota really deserves kudos for their hybrid system and making it work so well. It was no easy matter, and Honda deserves credit, of course, but their IMA system is less sophisticated and also less fuel-efficient.
Plug-in is a good feature to have, IMO. It's yet another step in the right direction for the Prius... continually raising the standard and setting the new benchmark.
(posted via iPhone)
TM
Wrong brand of jeans.
Tag, your supposed to feel bad for me, not the car, and they aren't cheap jeans.
Sanjay, OW - much appreciated.
GFR
So, IMO, plug-in capability is just another step forward, and one day the Gen 4 Prius will be even more amazing than this latest Gen 3.
TM
Regards,
OW
Regards,
OW
Are we in this forum like the fellow who still wears that fat polyester tie and bell bottom velour suits and still thinks his being very hip and trendy?
I read this in Businessweekarticle below and it does appear based on this person's observations that new introduced autos are as exciting as yesterday's Dick Van [non-permissible content removed] shows.
That's why they cloak new models like classified weapons, setting off games of cat-and-car with photographers who try to scoop the secrets. Apart from the most fanatical car fan, do the rest of us still care? The excitement I remember about a new year's cars—like a new season's TV shows—is gone. Cars have lost their season. They rarely engender excitement or passion.
Businessweek
This car that is considered the benchmark car in its segment. This car that wins endless prizes for its innovative twin turbo engine. This car that is manufactured by a car company that is know for its engineering excellence.
What a load of incredible BUNK!
I cant wait to replace this thing with a Anti-Enthusiast Car in the form of a Prius.
My BMW does provoke passions. Unfortunately with me it's stirs only passionate hate.
BMW = Bavarian Marketing Works
And yes I was duped by those slick Bavarian marketeers.
There were only about 904 Lexus LS models sold last January that was almost as much as GS models that were sold. Very unusual indeed.
And how's this for denial. Those Audi folks are very hypersensitive about admitting their weaknesses . This is the very first Auto Sales Press Release I have ever read which forgos mentioning how much their sales had dropped. All they talk about is increasing market share in a market that is going down the toilet. Talk about having a huge chip on their shoulder.
February 3, 2009: Audi today announced sales for the month of January totaling 4,722 units, a decrease from record January sales in 2008. Audi predicts its share of the U.S. luxury vehicle market will increase when all January 2009 sales reports come in compared to year-earlier results.
The Audi A5 posted a 76.3% increase over last January with 603 units sold in January 2009. The Audi R8 broke its January sales record with over 107 units sold, an increase of 75.4% over January's sales a year ago.
"The softening economy creates challenges to our industry, but the Audi position in the market continues its upward trend. We are confident this momentum will leave Audi in a better position when the economy turns around," said Johan de Nysschen, President, Audi of America. "As demonstrated in our successful efforts surrounding the recent presidential inauguration and our Super Bowl presence, Audi intends to remain a top-of-mind choice for U.S. luxury car buyers."
Dr. Trent Pierce was injured outside his home Wednesday, authorities and local media say.
Dr. Trent Pierce was injured outside his home Wednesday, authorities and local media say.
However police do not believe foul play was involved, saying the incident could have been caused by a malfunction with Dr. Trent Pierce's hybrid Lexus SUV, according to affiliate WREG.
link title
This car that is considered the benchmark car in its segment. This car that wins endless prizes for its innovative twin turbo engine. This car that is manufactured by a car company that is know for its engineering excellence.
Dewey...
I have been thinking about your horrible experience with your most recent BMW. It is very obvious that the situation was bad enough to cause you to be filled with resentment towards BMW.
I have read that betrayal is one of the strongest emotions there is, and in a very real sense, your car betrayed you. You had great expectations, but they were chipped away, over and over again, as your 335i continued to betray you again and again. And, it's always worse for guys like us that are more passionate about our cars than the average guy. When that level of passion is betrayed, it hurts... and it has been obvious in your posts for quite some time now... as you changed from a guy that loved BMWs to a guy that has distain for the marque. In your words...
My BMW does provoke passions. Unfortunately with me it's stirs only passionate hate.
It is sad that you, or anyone, should ever feel that way about their car. It's a shame. It's certainly no wonder that you feel the way you do, and it is totally understandable... but your situation isn't the same as Jose's, for example... who continues to enjoy and appreciate his BMW.
You have even taken it to the point of blaming the car for your enthusiastic driving, that landed you too many speeding tickets. I agree the driving dynamics of the car are almost too good to maintain constant self-control. It literally begs to be driven beyond the parameters of what is legal.
I never had owned a BMW before my 135i coupe, which I quickly traded towards the 135i convertible. It quickly became my one of my favorite cars of all time, and that says a whole lot. In addition to Jose and myself, I am sure Clembo has been enjoying his 335i Convertible.
So... I absolutely understand that the Prius will keep you from too many speeding tickets, and will be a frugal gas-sipper and offer some modern technology. And, I can embrace that line of thinking. It makes sense that the public's view of cars has shifted. We have all been raked over the coals enough times by gas prices, and the priorities of our personal financial pictures. The public has been forced to question just how much of their hard-earned money should really go to their cars... and the answer is obviously shifting towards "less"... partly because less is actually available to do so, and partly due to a shift in priorities.
You will not be alone as you shift away from a car like your BMW to a frugal vehicle like the Prius. The trend is clear.
But, BMW is not out for the count, and they, along with the other manufacturers, will adapt to the marketplace and offer more frugal, yet fun-to-drive vehicles in the near future.
We are in the midst of an historic transition for the automobile industry. It started years ago, and we are in it deep at this point. Within just a few more years, I believe we will see the emergence of a new and revitalized automobile industry with more and more products that we would not have imagined when we were kids thinking about the latest American muscle cars or European exotic cars.
I am sorry you got burned by your BMW. I hate the idea of getting rid of mine. In fact... as soon as my Porsche is officially gone, which should happen in about 48 hours from now... I will reconsider, one more time, the virtues of keeping my BMW 135i convertible... "one of my favorite cars of all time."
TM
Here's a confession. These past two weeks I've rented a Pontiac G5 at a very cheap rate because my snow tired BMW has made me cancel or greatly delay too many business appointements of mine. That Pontiac has been a real livelihood saver for me.
Miraculously today I was able to travel without shoveling my BMW 335i out of a road or getting a push from a helpful passerby. So today is quite a blessing and I am grateful. Those anger control management courses combined with a transportable Pontiac G5 has really helped me .
Since you enjoy your BMW 135i convertible so much I hope you will keep it.
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