Reader Question: Worthless Collateral?

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Here’s the latest reader question, along with my reply!

Jeffs asks: The auto loan industry is mostly manufacturers (Volvo Finance, GMC Finance etc.) and big banks like Capital One and Chase.  The gas cars bought in the last several years are 6-7 year loans. Used cars are bought on similar terms. Seems like we’d at least have that much time to keep buying and using gas so these banks who are extensions of the Fed Reserve and thus the Fed Gov. don’t have worthless collateral.

Denver spent billions in a new section of interstate I-70 through town recently.  These are federal dollars and this happens all over the place.  If the idea is to not drive, why these projects now?
Why is air travel in this country subsidized and even encouraged, leisure air travel, when it is basically non-critical to society but driving and commuting affordably is?
My reply: Well, for the same reason there were still a few Japanese soldiers fighting WWII after the surrender occurred on the battleship Missouri. There is still mopping up to do. As regards gas cars sold over the past six years or so: They would never have been sold if the EV pushers had main clear their ultimate goal. It was (and still is) necessary to push incrementally (though ever-more-aggressively) toward the ultimate goal. The hope is that by the time people figure it out, it will be too late.
Same as regards air travel. That is still allowed – for the present. But the plan is to all-but-forbid it. This has even been publicly stated.
We approach the fork in the road. We’ll see which path we take.

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