Monday, 1 July 2013

Don't invest in automobiles. We've passed peak driving.

From NYT: Have we passed peak driving?  Getting your driver's licence was a rite of passage and all adults had one.     Young drivers are disappearing and even grownups in their prime sometimes skip getting a licence.  Only the old drivers are more common.   Why is that?    It's harder for young people to get good jobs and to leave school debt free.    Most people live in city cores which are getting packed tighter with services and things to do.  Even the internet plays a role.  When your fingers can do the walking in seconds to almost any topic and place on earth, what are wheels for?  

Don't tell me to invest in the automobile industry.  The worst is yet to come.
The extra money is going into smartphones and music, clothes, small consumables and survival.

Chart below from NYT linked above.
(Investing is more complicated and while the mountain is falling, hills may be rising.)

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