*Why I'll NEVER be able to buy a house* Government "Helps" By Destroying 700,000 Working Cars
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- เผยแพร่เมื่อ 11 ต.ค. 2024
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When cash for clunkers happened I was 20 years old and I knew right away this was a bad idea
I don't even think I was 10/12 by the time they started that and I knew it was a horrible idea. 😩 Damn shame scrapping useable or repairable things in my book.
That shit was gut wrenching. Reaching the end of an annoying parade of classes rehashing the same information in slightly more depth each year only to find out we are all fucked and there's nothing we can do about it in the short term at all. No houses, no good jobs, and expect companies to continue to blame you and call you lazy and entitled.
"No houses" is exactly the opposite of what happened. After 2008, houses for sale that nobody was buying were such a glut on the market that the price of new houses did not increase again, *at all*, until 2022. Literally, the house my parents bought in 1990 for $45,000, had gone up to $55,000 or more before the crash, but then after 2008 it was worth $45,000 again, and in 2021, it was still worth about $45,000, because the prices hadn't gone up, because there were still a bunch of surplus houses for sale that still hadn't been bought. (When they finally sold the last of them and all the houses on the market had only been on the market for a few months like normal, prices then proceeded to double over the course of about 18 months, finally catching up with the inflation they'd missed out on.)
The problem wasn't no houses. It was no house *buyers* because banks were no longer willing to lend you the price of a house with no down payment and no proof of reliable income.
Stories like this are why I say "I blame the government." whenever something goes wrong for a random streamer somewhere. Because there's a non-zero chance that it actually IS their fault that whatever problem you're having can trace its origins back to some braindead or well-meaning decision some governement person made like 20 years ago.
truth
He has actually greatly oversimplified the causes of the 2008 housing crash, and the government encouraging banks to lend money to more poor people, was only one part of the puzzle. Another thing that's probably even more relevant is, a bunch of the sorts of people who *really* ought to know better, had managed to convince themselves that the value of real estate always goes up over time and never goes down, even in the short term. Which is bonkers. And because they convinced themselves of that, they proceeded to rate "collateralized debt obligations" (basically, the bank's side of a bunch of mortgages) as a safe investment like a government bond, even if a bunch of the mortgages were subprime with little or no down payment, on the theory that if anybody defaulted it would be absolutely no problem to find another buyer at the same price or higher. So a lot of money got invested in subprime mortgages that definitely shouldn't have been, and that wasn't mostly government funding, it was mostly private investment portfolios.
Not that the government wasn't also guilty of encouraging the practice, because they were. But they had help, from financial analysts who really ought to have *known* that all commodity goods experience price fluctuations from time to time. The immediate ("proximate" in logic-class terms) cause of the crash, was that too many people defaulted on their mortgages at once, and the lenders found themselves holding a bunch of over-valued properties that they couldn't sell quickly or easily, so they had to lower the prices and sell at a loss, creating a chain reaction (because now a bunch of people owed more money on their houses, than the houses were worth, precisely the situation down payments are supposed to prevent; naturally, a bunch of those people defaulted, and hopefully you can see where this is going).
With that said, the government does screw up a lot of stuff. Maybe at some point he'll do a video on that time the US government tried to stop inflation by making it illegal to pay workers more for a job than they'd been paid the previous year, during a labor shortage, and companies went looking for loopholes, and they found them, and so now hardly anybody gets to make their own decisions about health coverage because it's up to your employer's HR department to decide how to screw you over in that regard. That's a fun one.
The Video is better on pepperbox, they cut a few bits for TH-cam.
Thanks for reminding me. I really need to start rewatching TFE's stuff over there.
Cash for clunkers was a glorious terrible plan. Industrially speaking, US is one of the cleanest due to our high regulation, it's always fun to listen to someone push US manufacturing to some dirty foreign manufacturing and somehow say it's helping the environment.
Better than a tank
@@patrickpendergast898 ???
If you haven't seen FE's video about the Hilux and why we can't get it, it's a good watch
Pretty sure its a Fat Files episode
She says in the video she watched it
I honestly blame all the rich people with private jets that they fly on as much as the average person drives around (i.e. Starbucks CEO), and then proceed to blame said average person for the environmental issues
No one talks about cruises either.
No its China and their lack of regulations.
Tyler swift?
14:38 so in some vehicles its basically the same and some its considerably better. If you compare engine size to similar engine size its usually not much better mpg, but very big horsepower increase. Although due to that if you got the smaller modern engine youd usually get the same or better power as the bigger older engine with better than the older smaller engine mpg. Although as you might have been expecting the reason modern vehicles are getting bigger and basically nobody sells an affordable car anymore is the government to try to help the environment made a regulation where the companies had to increase mpg a certain amount every so often but that depended on vehicle size so while the auto industry has done impressive improvements in engine tech its still an easier option to just keep making them bigger to relax the regulations they have to follow.
That is what happened to all the 1/4-ton pickups including those made by the American manufacturers. All trucks (and SUV's which are considered trucks) then got supersized due to the government milage computations which is so much better for the environment (heavy on the sarcasm).
CAFE regulations: your truck can be _x_ size for _x_ mpg.
Automakers: oh, ok, rather than making our trucks more fuel efficient to meet regulations, we'll just make those same trucks physically larger to meet those regulations
The pepper bix bit 🌶️🌶️🌶️ but its so hilarious and its just a great chefs kiss to nick for his great rants
As I understand it, the thing with the random stuff in the ads is about taxes. Nic is able to get a deduction for things he uses in his videos. “Nice trench-gun” and “cool watch” is him saving tax money
Cash for clunkers is even worse than what was mentioned in this video. At the time of Cash for Clunkers I was only four years into my snow removal business. I had six broken down plow trucks that were mostly just parts trucks. I rebuilt 4 into running trucks, scrapped the remaining two then traded them in on a brand new F 350. The deal was so good I bought another five cars with blown engine, rebuilt them to just barely running and traded them in on my second F350.
Cash for Clunkers jump started my business lol.
I never thought I’d be able to seriously say this but here we are, Thanks Obama.
Right? I was SO CLOSE to putting that in the thumbnail, lol.
Tbf bush set up the housing crash alley oop was obama not supposed to take the dunk?@@AmericansLearn
@@dobber43to be fair Bush just continued on what the Clinton administration had started on the sub-prime loans. On the other hand Bush really shouldn’t have continued this.
and now just replacing a tail light is 5k
Most terrible words in English: I'm from the Government and I'm here to help!
the most dangerous words in English... "im from the government and im hear to help"
Government around the world sucks
Cash for clunkers was never meant to make cars more affordable. It was meant to force people into more technologically advanced cars that the government could control and push you to inflate the price of their stocks in auto manufacturers. The old cars did less damage to the environment in their manufacture and were not making any real lasting damage then.
15:31 To be fair, I think you still have to register collector cars so that statistics is very unreliable.
11:43 i am all for making America be more environmentally friendly. However i do not think it is in our interest to cripple ourselves and not try to get the biggest polluters (India and China just by scale, but also using outdated pollution reduction technology) to at least agree to do something themselves.
I mean, that would definitely be ideal. But perhaps leading by example is the way to go, since I don't think they'll listen to 'hey, the sky's gonna be on fire, wanna make it not happen?' because...no one really listens to that argument. I think we'd have to figure out a way to make it more profitable to be environmentally friendly than not (and to get big oil out of the gov't lobby and pockets), and sell it to them as something that would make THEM money too.
I think american made kei cars would be AMAZING! I'm all for limiting vehicle size in urban areas
People overlook China when discussing the environment I wonder why
Casual Geographic has a new video out called When Animals Get “Elevated” that you HAVE to do a reaction on.
A new one? Really? I could have SWORN I saw that.
@@AmericansLearn You may have. I checked and my bad. It came out over a year ago.
It's nice that we don't have that "25 year" rule in Europe if you want to get another car from abroad.
If you have older cars that still drive perfectly, and everything of the same type is destroyed by the scrapyard, you also don't have cheaper parts, so the factory has to make new ones again, which produces emissions, raw material supply, and making a completely new car costs an enormous amount of energy, raw materials, etc., and the manufacturer has money in the till after every car sold.......so with an older one you are better off if you look at it that way and you have money left over.....for that ridiculous health care system that puts you up to your ears in debt.. ''it's all about the money 🎶''
0:26 insert my personal anthem as performed by Chris Adams, "I'm not a big fan of the government!"
th-cam.com/video/MyvwacFNPxc/w-d-xo.htmlsi=4mRtbVypJn9Hx5iD
His other one "I'm never paying my taxes!" Is my phone call ringtone.
3:54 dude they're adorable. One day I hope to have that, such a playful dynamic.
I'll check it out
Hey find what u like that u can afford and fix one up. Pain in the ass catching up on maintenance other owners havent done tho. 😬😅 Need to throw money at my truck and get it in better shape but i fixed the crash damage the last guy put it through at least.
And now its all about Electric cars that are in fact much worse for the economy!
SINCE you paused the video SO DAMNED MUCH, let me throw my 2 cents into this discussion, the REAL PROBLEM, IS NOT the United States of America and our big vehicles, or our industry, I am 56 years old, and I remember when i was growing up ACTUAL POLLUTION, and you can find pictures of major cities in the United States in the 1970's and 1980's all over the internet, where by 1:00 in the afternoon, you could NOT see the skyline because of all the SMOG in the air, it was a real thing, BUT, we CLEANED UP OUR ACT, when I left the country for 3 years starting in 1988 while I was in the military and was stationed overseas, BEFORE I left, I remember the skylines although they were cleaner than they were 10 years prior, they were still dirty, but after 3 years of being gone, I came home to skylines that were completely unobstructed ALL DAY AND ALL NIGHT, so we DID clean up our polluting ways, BUT CHINA and INDIA HAS NOT, TODAY, BOTH of those countries put so much pollution in the air EVERY DAY, that we can not match what they put into the air daily with what we put into the air YEARLY, so the U.S. and our industry and cars ARE NOT THE PROBLEM anymore, what we NEED to do is get China and India to clean up their environmental pollution practices, we led the way technologically to being CLEAN, and we have GIVEN that technology to countries like Japan, Germany, France, England, Canada, Australia, South Korea, and ANYONE ELSE WHO WANTS TO USE IT, but both CHINA and INDIA refuse to accept it, and with HALF the world's population between those 2 countries, polluting WORSE than we ever did in the 1950's, 1960's and the beginning of the 1970's, it comes down to IF HALF of the world's population refuses to help the other half of the world's population clean up our environment, there is NO amount of doing things cleanly that will change what we are trying to save, it is sort of like a marriage, it takes BOTH parties to save a marriage and make it thrive, but it takes just 1 of them to decide to destroy it, and it gets destroyed, 1 person CAN NOT do it all by themself. so UNTIL we get China and India onboard with cleaning up the environment, it will never get cleaned up!
Speaking of "Boned"....... I prefer traditional bone in chicken wings to the boneless.
Making America embrace public transportation won't take years, or decades. It would take centuries, if it's even possible. The thing is, you can't just retrofit public transport onto our existing society. We *had* a passenger rail transport in the early twentieth century and we enthusiastically dropped it like a bad habit as soon as people could afford cars (after WWII). If you want to change that, you have to somehow convince people that they don't want to live all spread out like they are now, that instead they want to live all close together like Europeans, in houses that are literally touching each other and too small to have a laundry room or closets, so that cities can be significantly more compact. And then you have to convince them that they all want to live close to the center of a city, *not* a couple of miles outside of town like so many do. And then once you convince everybody that they don't *want* any space, then you have to wait for all the old existing houses to become too old to use any more and get torn down and new ones built to replace them, using the new paradigm. Yeah, it's gonna take a while. Alternately, you could go backwards in time and change the Northwest Ordinance so there aren't roads every mile (sometimes every half mile) in the countryside on a nice east-west/north-south grid, and then change how property taxes work so that farmers aren't motivated to sell road-frontage lots for housing and keep the middle of each country block as fields. Better yet, stop feudalism from happening in Europe, so that when the seventeenth century rolls around the entire population of Europe doesn't consider owning farmland to be *the* sole indicator of being a real person with rights and privileges, so that when people immigrate to America they don't spread out like oil on the surface of water.
As far as carbon emissions, at this point, it's mostly coal-fired power plants and related industrial activity in the third world. China alone produces more carbon emissions than all of North America and Europe *and* our allies (Japan, South Korea, Australia, etc.), all added together. Yes, really, look it up. If we were actually concerned about carbon emissions being a real problem in the near future, we would be sanctioning the ever living heck out of the PROC (as in, it would be flat out illegal to buy anything made in mainland China). Instead we say things like "We need to 'work with' China on climate change," which basically amounts to "we're not going to actually do anything about this because it's fine, we just don't want to say that out loud because it would screw up our political narrative." No one in a position of power is *actually* worried about carbon emissions. They're just using it as a talking point to gain a political advantage over their political rivals. You know how you can tell when a politician is lying? Their lips move. Gives it away every time.
Yeah. We COULD, however, at the very least make cities more walkable and put better infrastructure into THEM first. We could also start improving the AMTRAK, and putting a few more regulations onto freight train lines to makes sure we don't have those mile long cargo trains that USE THE SAME TRACK and make using the AMTRAK difficult. There are definitely things we could do--and yeah, both improving public transit within cities, and working on cross country rail lines/changing regulations for cargo trains would take a long time, but I still think it's worth looking into.
2:31 psyche reference?
you know it
Ain’t freedom of speech hilarious?
Barack Obama stupid
Have you yet heard "All I want for Chrismas...? This one makes u wish that She does not mean YOU🥶 "TARJA 'All I Want For Christmas Is You' - Official Video"" th-cam.com/video/ZYZH9t-4W4Y/w-d-xo.html it's also Halloween song!
If you say so. I suppose I can do Christmas before Halloween if it is genuinely scary
In all seriousness, how old are you? Like, you don’t know anything about DBZ or Yu-Gi-Oh?