American Automobile Fuel Consumption Debate


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Probably a moot comment to this post since so much as changed, but I'm not sure that helping homeowners under distress is exactly perfect. The US comptroller says now that repeat defaults are above 50%. Not a shocker in my book since those who were upside down on their houses probably don't understand debt and are likely over-extended in areas other than their home loan.

The broader theme here is that asset prices have to go down, including homes, and that is going to cause some pain. The government should try to limit the collateral damage, but the effective way to do that is not easy to discern.

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