I Would Really Like to Get Elizabeth Warren and Other Progressives On the Record Right Now About Sub-Prime Auto | Coyote Blog
. . . you might want to lubricate your check writing hand because it looks like taxpayers will be writing some checks to cover this fiasco.
If the government was not suffering from Keynesian insanity we would likely already be in a recession. The beauty here is while we are not in a recession now, due to this Keynesian insanity, once it hits it will be much worse than it would have been. The auto industry is on life support. Selling to deadbeats on credit might be a bad idea, but hey, taxpayers will come to the rescue!
This is what the end of progressivism looks like.
One of the real head scratchers in this is the idea that progressives, the people who think everyone should live in high density urban environments, ride rail transit, and not even own a car, are the supporters, and creators of this problem. Perhaps, what they want is to bankrupt the poor, permanently eliminating their ability to buy a car, they just chose new car purchase as the mechanism!? No, I'm not buying that either. They are simply clueless. They want both the poor buying new cars, and only riding rail transit.
Welcome to progressive la la land.