Convertible Car Sales Collapse as Inequality Increases
Massive car companies including Volkswagen, Peugeot and Chrysler are abandoning production of open top sports cars after worldwide sales fell by 44% from their peak 10 years ago.
Sales of the classic midlife-crisis markers have gone into even sharper decline since the economic crisis started in 2008, a report in Business Week noted this week, with wealthy wannabe drivers increasingly worried about both pollution and the anger of the masses.
“In cities you’re mostly stuck in traffic, and if you’re in a convertible, you’ll be inhaling exhaust fumes,” Emerging Markets Automotive Advisors’ chief Deepesh Rathore told Business Week.
“Plus, you don’t want to find yourself next to a bus where someone may throw something into your car.”
The report coincided with the publication of Thomas Piketty’s acclaimed new book Capital in the Twenty-First Century in which the French economist analysed 200 years worth of data on the effectiveness and impact of capitalism.
Warning of “potentially terrifying’ consequences his conclusion, Observer columnist Will Hutton noted, was more than grim.
“Economist Thomas Piketty’s message is bleak: the gap between rich and poor threatens to destroy us,” he said.
“The lesson of the past is that societies try to protect themselves: they close their borders or have revolutions – or end up going to war.”
In the book itself, Piketty calls for ‘a progressive tax, a global tax, based on the taxation of private property’ and suggests such a tax would be ‘the only civilised solution.’
“The other solutions are, I think, much more barbaric – by that I mean the oligarch system of Russia, which I don’t believe in, and inflation, which is really just a tax on the poor,” he says.
“The present Russian model . . . is quite simply the rule of the very rich over the majority. This is both tyrannical and not much more than a form of gangsterism,” he suggests.
Details of the economist’s calamitous prophecy emerged soon after Texas mega-church preacher John Hagee singled out Tuesday’s Blood Moon as signifying the beginning of the End Times in his top selling new novel ”Four Blood Moons: Something Is About to Change’.
“When you see these signs, the Bible says, lift up your head and rejoice, your redemption draweth nigh,” Hagee reportedly told a congregation last weekend.
“I believe that the Heavens are God’s billboard, that He has been sending signals to Planet Earth but we just have not been picking them up,” he added (San Antonio Express-News/ Washington Post: http://wapo.st/1noyNRV )
http://bit.ly/1hJrzb2 (New Testament, Acts 2:20: “The sun shall be turned into darkness, and the moon into blood, before the great and notable day of the Lord . . .’)
http://bit.ly/1m6Sosy (Capital in the Twenty-First Century By Thomas Piketty: ‘The main driver of inequality–returns on capital that exceed the rate of economic growth–is again threatening to generate extreme discontent and undermine democratic values . . .”)
http://www.wreckedexotics.com (‘These car crash pictures involve some of the most expensive automobiles ever produced including Lamborghini, Ferrari, Mclaren F1, Porsche, Bugatti and more. All in all, you’ll find almost a quarter of a Billion Dollars worth of damage within this crash collection . . .’)
Jonty Skrufff: https://twitter.com/djjontyskrufff