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>The car industry is probably one of the most stable economic pillars the US has. You mean the industry that famously went bankrupt in 2008 and had to be baile
by gruez 2y ago
>The car industry is probably one of the most stable economic pillars the US has.
You mean the industry that famously went bankrupt in 2008 and had to be bailed out? Looking at the list of sectors[1], there are plenty of sectors that I think are more stable: Consumer staples, utilities, and healthcare.
[1] https://www.sectorspdrs.com/sectortracker https://www.sectorspdrs.com/sectortracker
- ics 2y agoThe fact that it was bailed out says something about its place in American society. Stable might not be the best description but it does seem to be one thing which is taken for granted.
- ToucanLoucan 2y ago> The fact that it was bailed out says something about its place in American society. Yes. It's extremely well connected to the levers of power. Other examples would include the protectionist legislation offered when they were getting their shit rocked by Asia the last time around, in the 70's, every time we've gone to war overseas for oil, and the CAFE standards which have generous exemptions for all the vehicles they actually make money on because no other manufacturers bother to make 3 ton trucks for suburbanites.
- aziaziazi 2y ago> it’s cultural first class because it’s so stable > it’s so stable because it’s a cultural first class Looks biased from an outsider view but I guess most cultural habits gets biased at some point.
- tmpz22 2y agoWhat about Teslas P/E ratio, not to mention Musks dual responsibility as CEO and head of DOGE?
- gruez 2y agohigh PE ratio =/= "stable".
- xboxnolifes 2y agoCar industry is rock solid, like the housing market.
- cirrus3 2y agoI think they meant "stable" as in the demand for the product isn't easily going away anytime soon.