A Sea of Unwanted Imports (and exports)

[DaveBrown42]

A Sea of Unwanted Imports
http://www.iht.com/articles/2008/11/...ss/19ports.php

The article discusses unprecedented numbers of new cars sitting around and taking up space at one of America's busiest ports. Also touches on the lack of demand for scrap metal, cardboard, etc.

"It just came to a complete stop. Absolutely a stop," said Gilbert Dodson, the recycling company's co-owner. "I've seen it slow over the last 25 years, but this is the worst," he said of the current downturn.

Wow, that stop sure sounds like it was sudden.

I guess my garbageman friend was right:
http://www.itulip.com/forums/showpos...86&postcount=1
I think I'll give him a call today and see what's next.

[sn1p3r]

Re: A Sea of Unwanted Imports (and exports)

I wonder when would be a good time to get a car...i'm coming out of a lease soon and would LOVE to get a bargain with cash of course

[zadok]

Re: A Sea of Unwanted Imports (and exports)

You might want to get a bicycle instead. No future in cars.

The working class is making $7-10 an hr. Cant afford cars without bigtime credit. Cars are finished for the US.

[DaveBrown42]

Re: A Sea of Unwanted Imports (and exports)

I wonder when would be a good time to get a car...i'm coming out of a lease soon and would LOVE to get a bargain with cash of course

You're in luck! The only bargain there ever is with cars is one that you always have to buy with cash; that is, one that has finished depreciating (10yrs+). Clunkers forever!

(Disclaimer: OK, I actually think buying a 5yr old car isn't such a bad idea either. But you get my point. No rapidly depreciating asset is ever a bargain.)

[Slimprofits]

Re: A Sea of Unwanted Imports (and exports)

good post, article really hits hard. Has this been featured as a top story on cable or network news broadcasts? This is a "stop and think" topic.

[zoog]

Re: A Sea of Unwanted Imports (and exports)

You're in luck! The only bargain there ever is with cars is one that you always have to buy with cash; that is, one that has finished depreciating (10yrs+). Clunkers forever!

(Disclaimer: OK, I actually think buying a 5yr old car isn't such a bad idea either. But you get my point. No rapidly depreciating asset is ever a bargain.)

Yep. Hence EJ's 2006 post How Much of Your Car Should You Finance? Zero percent which at over 52,000 views I believe remains the most-read thread on iTulip.

[sutro]

Re: A Sea of Unwanted Imports (and exports)

Prices for scrap material in the Bay Area of California have come back marginally based on reduced shipping rates from ship owners hungry for cargo.
The "street price" for cardboard in West Oakland was up to $25/ton from 15 two weeks ago (down from over a hundred in July). The demand in China is still extremely weak but material is starting to move again.