Re: [Pen-l] query

["Jim Devine" <jdevine03@xxxxxxxxx>]

several of these (b, c, d, & e, maybe a) seem right. In general
recessions his the demand for consumer durables first and hardest.

Gernot Koehler  wrote:
> How could one explain that the breakdown in the car markets is as severe as
> it is? Hypothesis (a) cars behave like luxury goods? Hypothesis (b) banks
> and car dealers are more reluctant to give credit for car purchases?
> Hypothesis (c) the high gasoline prices of 2008 scared motorists? Hypothesis
> (d) consumers are postponing the purchase of a new car, adopting a
> wait-and-see attitude in response to the climate of financial uncertainty
> and are a bit more willing to drive an old clunker? Hypothesis (e) car
> manufacturers inflate their problems in order to get a maximum of public
> cash? Other?

-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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