Re: 1954 Packard on eBay

Posted by Tim Cole On 2022/5/22 12:28:36

That hood ornament and those lights are ghetto.

Right now asset prices across the board are reflecting the central bankers having created asset bubbles. Tax breaks given to corporations are mostly used to manipulate stock prices and not reinvested in the business. One exception is auto manufacturing which requires reinvestment to stay open. In the old days most corporate earnings were reinvested in the business. Thanks to that crackpot Milton Freidman who created a philosophy that appeals to the least altruistic of motivations most earnings are now used to buy back stock in the Wall Street ponzi. Inflation is putting pressure on free cash flows so buy backs are declining.

I like pretty much all the Packard products, but would never buy one thinking to make a profit. However, after working in Detroit I pretty much don't even like cars anymore.