while wages have been increasing, they're not going up enough to keep up with the pace of inflation. at the same time, you have people who built up their savings, paid down their credit card debt during the pandemic with stimulus checks, just because they were spending less on experiences, and now there's this sort of built up pandemic spending spree that some people have gone on, whether it's taking that vacation they put off or wanting to have a really big holiday because they hadn't gotten together with family in a couple of years, dining out more or putting off costs like buying a new car. people were putting that off because car prices have been high, and they can't do that anymore. that's forced people to dip into the savings, spending it down, and putting more on credit cards. as a result, financial analysts say the consumer is really in a weaker position than they were a year or two ago, and it's troubling because of the concerns that are still out there about a potential economic
High car prices, loan rates fueling an affordability crisis in the auto industry kvia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kvia.com Daily Mail and Mail on Sunday newspapers.
I thought car prices were going to drop when chips reentered the market. I’m not seeing a drop where I live, and I really need to replace a vehicle. What should I do?
automobiles. but american automobiles. but american automobiles could not make enough cars because there weren't enough chips. car prices went up, people got laid off, so did everything from refrigerators to cell phones. we can never let that happen again. that's why we came together to pass the bipartisan chips and science act. folks, i know i've been criticised for saying this but i'm not changing my view, we are going to make sure the supply chain for america begins in america. the supply chain begins in america. we have already created 800,000 new manufacturing jobs before this
america, let's get that straight, they were invented in america. we lost our edge, we're down to producing 10%. we all saw what happened during the pandemic when chip factories shut down overseas. today's automobiles, 3000 chips with each of those automobiles. american automobiles could not make enough cars, because there were two enough ships. car prices went up, people got laid off, started everything from refrigerators to cell phones. we can never let that happen again, that's why we came together, that's what where the bipartisan chips act comes in.