Clunkers: Toyota passes GM as top seller

[Flyingbunnys]

Originally Posted by hunchman

Japan bought $300 billion dollars worth of big macs and kfc? That is amazing.

oh thats a good one I guess I could see where we would import more into Japan all they really have it car entertainment, and seafood industries. I just wish countries would stop buying our dept/ we would stop selling it, perhaps one day we can start buying it back a little at a time.

[04bonnie]

Originally Posted by Joe in T.O.

How Ironic. Buy a Toyota and the U.S. gov. gives you cash! So where are all those people that were mad when GM was looking for a loan? Hello?...Hello?...
Oh yeah, I think they are lining up to ban the government from giving out incentives for the upcoming Volt.

Ditto! You hit the nail right on the head. What's wrong with this picture, the U.S. government giving money to buy FOREIGN cars? Makes my blood boil.

[steinravnik]

Originally Posted by Z16monte

Methinks your numbers are suspect. http://www.breitbart.com/article.php...show_article=1
Ed

Our biggest deficits in June 2009 were with China and OPEC, with China by far the largest.

The June figures show surpluses, in billions of dollars, with Hong Kong $1.4 ($1.5
for May), Australia $1.0 ($1.0), Singapore $0.5 ($0.3), and Egypt $0.2 ($0.2).
Deficits were recorded, in billions of dollars, with China $18.4 ($17.5), OPEC $5.9
($4.1), the European Union $4.5 ($2.8), Japan $3.7 ($1.9), Mexico $3.4 ($3.9),
Venezuela $1.8 ($1.3), Canada $1.6 ($0.5), Nigeria $1.3 ($0.8), Korea $0.9 ($0.7),
and Taiwan $0.6 ($0.9).

http://www.bea.gov/newsreleases/inte...ewsrelease.htm

[joemac]

Originally Posted by msitter

For all those buy American proponents, for the last figures I could find, the US sent almost $300 billion to Japan in American goods but only bought about $140 billion from Japan. I kind of think we are good on the trade balance.

That's incorrect. The automotive trade deficit with Japan hovers around $150 billion annually. This is the automotive sector alone.

[GMC-70]

So, much of our tax dollars (and future tax dollars) are going directly into the hands of foreign countries to prop-up their economy

Great plan--what a country America is fast becoming! This stimulus is #$%## great--first we borrow the trillions and then we give much of it back to foreign countries . Brilliant--simply brilliant.

2012 can't get here fast enough--start with cleaning some house in 2010!

[joemac]

Originally Posted by 04bonnie

Ditto! You hit the nail right on the head. What's wrong with this picture, the U.S. government giving money to buy FOREIGN cars? Makes my blood boil.

To add clarity, these are 100% US tax dollars. Japan, China, Korea and others didn't contribute 40% of these dollars. All US. Yet we have no problem given away our tax dollars to benefit foreign companies, countries and people. The US is amazing in how freely we release these tax dollars with little thought of the life cycle and or benefit. It's even more amazing that we have none in the bank, we're pushing out the obligation to pay for these expenditures now on our kids or our kids kids. Man, our kids certainly will be proud of us parents monetary frugality, as they get to front the bill.

[steinravnik]

Originally Posted by joemac

That's incorrect. The automotive trade deficit with Japan hovers around $150 billion annually. This is the automotive sector alone.

Wrong.

The total U.S./Japan trade deficit in 2008 was 72.7 billion, and the automotive component was 52.7 billion.

http://www.trade.gov/wcm/groups/inte..._japan_pdf.pdf

And on an annualised basis for 2009, those deficits are down 50% and 57% respectively.

[joemac]

Originally Posted by GMC-70

2012 can't get here fast enough--start with cleaning some house in 2010!

Like that will really matter. We say this ever four years. Did we forget the last 8 years wasn't exactly a showcase for frugality and budge surplusses? The scary part is that unless we can somehow systematically get ride of the whole lot of them, we'll continue down the path of determent of the American middle class for decades, until it doesn't exist any longer. The horizon looks to be a few people controlling 90% of the wealth in this country, then 90% of the people having 10% of the wealth. This won't be our most triumphant time rest assured.

[dean1]

From a Canadian perspective (from an outsider point of view looking in), I am perplexed. Why are you Americans (supposedly so proud of your history, nationality, apple pie and so on), not supporting your own American auto industry? For God's sake, this industry is one of the last bastions that you still have. Hold on to it, and embrace it, before Chevys, Dodges, and Fords are no more. Moreover, the quality is better than ever. In many cases, it meets or exceeds that of rivals.

I guess what it boils down to is arrogance, perception, and the old adage..."the grass is greener on the other side of the fence". To that I would respond "wake up and smell the roses" They may soon be gone, if you don't nurture them.

Have a nice day in your Chevrolet!

[GMOwner]

Originally Posted by GMC-70

So, much of our tax dollars (and future tax dollars) are going directly into the hands of foreign countries to prop-up their economy

Great plan--what a country America is fast becoming! This stimulus is #$%## great--first we borrow the trillions and then we give much of it back to foreign countries . Brilliant--simply brilliant.

2012 can't get here fast enough--start with cleaning some house in 2010!

The reason why this program was extended to all manufacturers is because all manufacturers hire American men and woman to build their cars. Honda, Toyota, Nissan, etc. all have plants in this country employing American people who pay taxes so rich people don't have to (oops that slipped out--sorry).

So, before you dust off your Lydon LaRouche quotes, think about that.

[Dr.Toyota]

Toyota cars are better buys with the American Cash for Clunkers incentive. Chances are you are trading in an American clunker anyway, why get another clunker?

Buy Japanese!

[GMC-70]

Originally Posted by GMOwner

The reason why this program was extended to all manufacturers is because all manufacturers hire American men and woman to build their cars. Honda, Toyota, Nissan, etc. all have plants in this country employing American people who pay taxes so rich people don't have to (oops that slipped out--sorry).

So, before you dust off your Lydon LaRouche quotes, think about that.

I thought about that--doesn't fly as the parent company is still foreign so they are still profiting at our expense and that of our children. The program should have included all manufacturers --I agree. However, there should have been a provision for extra incentives if you purchased a true domestic.

By the way, I wonder who would employ us if it weren't for those stinky rich people who don't pay taxes. Oh I know--the government...wishes do come true don't they

[joemac]

Originally Posted by steinravnik

The total U.S./Japan trade deficit in 2008 was 72.7 billion, and the automotive component was 52.7 billion.

And on an annualised basis for 2009, those deficits are down 50% and 57% respectively.

One might question why those deficits are down in 2008 and 2009. Might be cause of the worst economic downturn year since the great depression? Using figures from a period of serious economic recession to represent average median trade deficits isn't accurate for representing the whole economic picture.

Also of note the source low trade deficit figures includes language in the foot note The Census basis produces a lower apparent deficit

1998 $77.5 Billion automotive trade deficit
http://www.allbusiness.com/transport.../167774-1.html

1999 $74.5 Billion automotive trade deficit (first nine months of CY, average over 12 months is $99B)
http://findarticles.com/p/articles/m...3/ai_70636859/

2003 $128 Billion automotive trade deficit
http://www.businessweek.com/magazine...1034_mz011.htm

2004 $150 nearly Billion automotive trade deficit
http://books.google.com/books?id=Gqb...0japan&f=false

Several other sources indicate monthly automotive trade deficits with Japan in the $8B to $12B range. Which is $96B and $144B respectively. Sampling over a variety of years in median economic conditions.

Whatever the figures they are not trending toward being beneficial or prosperous for our economy or nations citizens. That is unless one considers pizza delivery a career.

[87GN&98VET]

Great, good job government. You took my tax dollars to benefit more foreign companies than domestic companies. Great. Pure stupidity...especially when the government has a majority stake in GM.

[njtex]

Originally Posted by steinravnik

Wrong.

The total U.S./Japan trade deficit in 2008 was 72.7 billion, and the automotive component was 52.7 billion.

http://www.trade.gov/wcm/groups/inte..._japan_pdf.pdf

And on an annualised basis for 2009, those deficits are down 50% and 57% respectively.

I wonder if those numbers include stuff manufactured in other countries and sold under Japanese brand names?

Judging by all the Japanese branded stuff I've purchased over the past decade, all of their mass-market consumer goods are coming out of China and associated other countries with highly developed manufacturing infrastructures.

From what I've read, the "buy American" provision was pulled from CFC because of international trade law restriction fears. The last thing we need now is any sort of trade war or friction because we can't survive without them buying our debt!