Newest Ferrari and Lamboghini sold out

[LongTomH]

Run time: 01:00 https://www.youtube.com/watch?v=R9SKKId0qh8   Posted on YouTube: August 05, 2011 By YouTube Member: RTAmerica Views on YouTube: 304   Posted on DU: August 05, 2011 By DU Member: LongTomH Views on DU: 1823

 
Plutonomy in action! While formerly middle-class auto buyers are trying to make their cars last 20 years, the newest model Lamborghinis and Ferraris are selling out before they hit the showrooms.

Plutonomy combines pluto (for wealth0 and economy; it's the theory that you can run an economy based on the hyperconsumption of the very rich (upper 1%), super rich (upper 0.1%) and mega rich (upper 0.01%).

[liberal N proud]

1. Looks like thats where our 401K's went

The money bags are spending it on high end foreign toys.

[wtmusic]

2. +1.

Instead of "trickle down", let's call it "trickle out".

[GSLevel9]

3. not QUITE accurate.

1) There are import duties on these cars.

2) There are import/transport/warehouse/broker fees benefitting US workers.

3) The sale of these vehicles benefits a car dealer in Beverly Hills or South Beach who can afford another gardener or to put new tile in the dealership showroom.

4) Buyers of these cars pay tens of thousands of dollars in maintenance which goes to middle class technicians.

[Plucketeer]

4. WOW! I feel SO much better now!

Besides that, we're helping Italy's flailing economy, and who can fault that???

[Kurmudgeon]

5. Accurate enough, the majority of the profit goes to foreign corporations whether it's Italy or Japan

[Citizen Worker]

8. Yes, and dilapidated roads boost the economy when the working class needs car repairs, new tires,

etc. Economic stimulus of the first order.

[blank space]

10. False

the luxury tax kicks in at around 80K - after that there is no benefit.

The import, transport, warehouse etc is no different between a ferrari and a 15,000 car.

The sales rep already has a gardener, and the showroom is fine. Paul Krugmen and everyone other economist is trying to point out they just bank it. They do not go and buy more stuff - that is an absolute lie.

These cars MUST be serviced by Ferrari, Lambourghini, they employ mechanics on standard minimum wage - they charge a fortune and this goes back to Europe. Its the business model.

The purchases of these cars is actually massive burden on the US taxpayer through write offs, depreciation and foreign expenditure - it hurts your economy MASSIVELY.

The same applies in Australia, Asia and everywhere else - it is really, really, bad. Australia is being really hurt by this kind of crap due to the high currency.

[Name removed]

6. Deleted message

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[rfranklin]

7. Key their cars...

It's only fair.

[GSLevel9]

9. that's fucked up.

You're encouraging a misdemeanor crime (a felony in some locales) that's just peachy. I don't begrudge people for being wealthy... I don't like it when they DON'T spend it...

[kelly1mm]

11. "If you have the means, I highly recomend it. So choice." - Ferris Bueler.