Dr. Hax on Nostr: I can't figure out which episode is number 765 (the website only seems to list ...
I can't figure out which episode is number 765 (the website only seems to list titles, not numbers. So I'm responding without the full context...
I'm just going to set aside the fact that most cars are not $80,000 and focus on the point which is that many people are not able to afford the up front cost, being able to manage a payment over time. The reason for this is that, in America, cars have been necessary to do things like get to work, get food, and things that can't be put off for years while one would save up.
Now lets imagine a world with sound money. Would cars be cheaper in terms of the hours one needs to work to afford them?
Would the people making the vehicles get laid less in these same terms (hours needed to work in order to buy a car)? Would the steel and aluminum companjes get less? Would car companies take less profits?
And if nobody is taking an (inflation/deflation adjusted) pay cut, the car is still going to cost more money than many people have. The car makers would have to let people pay over time in order to move a large volume of vehicles and we're right back to where we are today with the onky difference being that the car companies are the lenders instead of credit unions and banks.
If someone can link me to episode 765, I'll listen to it in its entirety (even though they're *so long*) to hear where my explanation breaks down or at least diverges from others.
I'm just going to set aside the fact that most cars are not $80,000 and focus on the point which is that many people are not able to afford the up front cost, being able to manage a payment over time. The reason for this is that, in America, cars have been necessary to do things like get to work, get food, and things that can't be put off for years while one would save up.
Now lets imagine a world with sound money. Would cars be cheaper in terms of the hours one needs to work to afford them?
Would the people making the vehicles get laid less in these same terms (hours needed to work in order to buy a car)? Would the steel and aluminum companjes get less? Would car companies take less profits?
And if nobody is taking an (inflation/deflation adjusted) pay cut, the car is still going to cost more money than many people have. The car makers would have to let people pay over time in order to move a large volume of vehicles and we're right back to where we are today with the onky difference being that the car companies are the lenders instead of credit unions and banks.
If someone can link me to episode 765, I'll listen to it in its entirety (even though they're *so long*) to hear where my explanation breaks down or at least diverges from others.