Liam Westra, British News Sole Corp, BNSC News Group LLC
The idea of enjoyment could be a stress free day of convenance
The idea behind fast food is great – people want convenience. – Kimbal Musk
I wonder what transportation options are available as the city blooms with exciting activities written within the local newspaper. A thought comes to mind, ” I’m a hard worker, and earn my right to have a luxurious life.” This is the year of 1893 when Charles, and Frank Duryea introduced the first automobile in the United States; by 1897 the automobile was sold for $1,000 according to historical records.
It’s now 2008, and the economy is in ruins while the housing market is in a slump; it was said that Americans had over estimated their income to debt ratio. The American banks petitioned for a bail out from the federal government. Although to some financial analysts the banks should fail because this dilemma was caused by financial loan mismanagement.
What most economic experts didn’t expect was the financial loan defaults in the automobile industry. The New York Times had reported that some automobile companies owed as much as 100 billion dollars to financial institutions. The automobile industry was asking for a bail out as well.
In the early months of 2026, the auto industry is charging on average $50,000 for a new car with monthly payments as high as $811 while full coverage insurance is at a cost of $225 a month according to Cox Automotive, and Bank Rate data research. The overall calculation is $1036 per vehicle per household.
United States Senator Elizabeth Warren of Cambridge, Massachusetts says, ” Something needs to be done.” Who else will tend to this outrageous rise in automobile prices? These ridiculous prices haven’t stopped consumers from buying, but the automobile loan defaults are becoming a problem for the banking, and automotive industry.
American automotive buyers are struggling to pay the required payments; so far 1.73 million vehicles have been recently repossessed, reported Prodigal Technologies. A mechanic of Mesa, AZ traded his car into a dealership for a $730 monthly car payment with insurance totaling over a $1000 monthly expense. How long will the automatic industry last as the rising cost for an automobile increases.
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