-- Connecting the dots between our economy, government and business --
In March, the EPA finalized “the strongest-ever” pollution standards in order to accelerate the adoption of hybrid and electric vehicles. The EPA’s decision will also “decimate the ethanol industry and corn demand,” the Illinois Corn Growers Association said.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Demand for EVs is DOWN and manufactures are cutting production.
But demand for gasoline is also down, due in large part to EVs. While production of EVs are being scaled back it is predicted we will sell more EVs in the U.S. this than we did last year.
People aren’t buying gas vehicles either have you seen dealerships lots lately,the economy is in a huge tailspin, it was announced today credit card payments have hit a all time high of delinquency.
Actually full lots are not a good indicator. New car sales were up 5.1% last quarter and are on track for over 15,000,000 sales in a year, which is pre-pandemic sales figures. Yes, delinquencies are getting high, that’s a problem, but people are still buying cars. Car sales during the height of the last recession dropped to 10,000,000 and stayed below 15,000,000 for several years and that was the end of the world for many in the auto industry. The filled up lots is how things actually used to be prepandemic. But several brands (ahem, Dodge, Jeep, Ram) are struggling… Read more »
It’s used home sales where where the harbinger of the economy exists. Home sales are at or near the great recession levels of 2008, and that was practically the End Times for the real estate industry, and we are there now too.
You thought 2008 housing was bad wait, foreclosure are hitting a all time high again.
Respectfully I don’t see a 2008 crisis. Some of the reasons are there is a very low inventory of homes on the market. The news in Rockford the other day said there are only 190 homes available to purchase here. Right after 2008 there were between 5,000-7,000 foreclosed homes. Most homeowners are staying put because they do not want to give up a 2.75% or around that mortgage and buy something else at over 7% interest. Also not many homes are being built due to not finding many workers and the cost for supplies are still way up. Many tradespeople… Read more »
Inventory will swell, as it has elsewhere, when people realize it’s time to run for the exits. The set up is near repeat of 2008. Inventory dries up, then prices plateau, then they start to fall straight down.
The maker of Dodge, Jeep, and Ram products is doing OK. Stellantis (Chrysler) is the 4th largest automaker in the world by sales volume, following Toyota, Volkswagen, and the Hundai Group. Stellantis sells 1.3 to 1.7 million more vehicles a year than either G.M. or Ford.
Due in large part to hybrids like prius
Sales of PHEVs (Plug-in Hybrids) are up 40% this year while EV sales are up about 5%. People are really getting into PHEVs and many new vehicle buyers feel Plug-ins are the way to go if you’re totally not sold on EVs just yet.
Turning food into fuel is not very bright. Cronies of George W lost a ton of money speculating in such a venture.
But it turned out good for farmers as demand for corn was higher due to ethanol mandates, which kept the price of corn higher than it should have been.
I haven’t witnessed too much popularity.