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Turning Japanese: The Audacity of Reality (Part 3 of 3)

"I was taught Keynesian economics"

Economics is the fine art of drawing funny looking diagrams using funny little greek letters.

Turning Japanese: The Audacity of Reality (Part 3 of 3)

Great article, definitely useful for future reference, especially the research concerning the charts.

GMAC: Happy to Lend You Some of Your Own Money

> It will be a contest to push money -- taxpayer money actually -- out the door in order to maintain some level of sales.

That's exactly what it is, the other carmakers shouldn't be that concerned about losing market share as GM artificially opens up the market to a group that shouldn't have access to it. There's no point in going down that route to maintain market share if it's obvious that it's going ti cause damage in the long run in the form of defaults. Another market distortion sponsord by the government...

General Motors Fights Uphill Battle with Double Edged Sword

>Not only that, but doing so almost ensures that increased profits earned from higher car sales volumes will be offset by higher credit losses

.... in the future. That's the key point, they need as much superficial data as possible that could convince Washington to keep the lifeline, thus pushing sale numbers high by lowering credit standards even makes sense in a weird way. Why care about the future when survival is at stake?