As in, you’ve profited from the sale of every car you’ve owned?
I profited from owning productive capital. You know, an investment!
I don’t think most people would want to own a car
I certainly wouldn’t. I don’t like owning a car. But it has been hard to turn down the return on investment potential. Where else were you going to get those kinds of returns?
In the past, that is. I haven’t bought a car recently. With the price of vehicles today, it’s not clear if there is still much ROI to be had – it seems pencils have been sharpened pretty sharp. But I’m not looking for one right now either so I haven’t crunched the numbers very hard.
I also don’t think many regular consumers are buying cars for some chance to profit from the sale of them afterwards.
I wouldn’t think so either. If they are looking for a bank account that returns some interest, they’re more likely to go to a bank. But if they’re looking for an investment, cars have been pretty good (maybe no longer; we shall see).
Huh? The trickle down line comes from comedian Will Rogers who was making a joke about how President Hoover, who was an engineer, was accustomed to water trickling down, but that he didn’t realize money trickles up.
It was a line to serve the exact opposite – to tell the ‘proles’ that the economic plan was fundamentally flawed.