Somewhere, Gary Numan is Laughing

And as long as we are talking about financial stuff, this story in Bloomberg is showing us that there is a sea change in our culture: more people are prioritizing mobile phones, etc., than mobile cars:

“The sea change has taken place over the last few years as mobile devices become an integral tool not just for communication with loved ones or employers, but also everything from banking to dating to watching TV and listening to music. As cars grow relatively less important, borrowers struggling to pay back their loans on time are increasingly prioritizing payments on the latest iPhone instead of making sure they hold on to their pickup or coupe.”

 

That’s a pretty big change. The article does not indicate if this is a generational change or if all of us are doing it. The world has changed, and this must make Scott Pruitt’s real customers very nervous.

 

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8 Responses to Somewhere, Gary Numan is Laughing

  1. That’s creating a new opportunity in asset-backed securities

    Why yes, by all means lets securitize loans made to any idiot for $800 devices that can be easily lost or destroyed.

    I’m sure all the newly-freed-from-the-onerous-demands-of-remaining fucking solvent-Dodd-Frank banks will hop right on this one! Woo Hoo!! They turned the machines back ON!!!!

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  2. The new Bucks arena is going up next to my office, and the parking has become scarce and expensive. On-street parking is tough, especially as they aggressively police the meters; the parking structures rarely have all-day parking, requiring you to pay twice if you’re staying even a little late. When I started tracking my parking costs, I discovered I could catch a bus one block from my house, the bus ride was barely longer than directly driving, and if I want to work late can catch a ride-share home, and it all is cheaper than driving myself and paying for parking. I only take my car if I have to go somewhere for a meeting….

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  3. roket says:

    Help me out here. Are we comparing an $800 phone to a $20,000 vehicle or phone bills and car loan payments? If your phone bill is higher than your car payment, then you do have a problem.

    Liked by 1 person

  4. osirisopto says:

    Sergei Brinn rules the world!

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  5. WTAF? That is NUTS. It tells me everything I need to know about how effed we are. And it tells me everything that I would rather not know…

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  6. RWW says:

    I’d give up my iPhone for the rest of my life to have my cool ’57 Chrysler back. Just, sayin’.

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  7. Ten Bears says:

    I don’t often confess to this, as I am sure you will appreciate, but the one product at WalMart I use is their phone service – forty-five bucks a month unlimited talk/text/net, and just yesterday replaced a two and a quarter year old failed fifty dollar phone with another fifty dollar phone. Does everything an iPhone does.

    Need to figure out how to apply the jacked-up de-engineered suburban assault vehicle with tires the size of Volkswagons and the hood ornament a perfect rendition of the human female reproductive system slash little hands metaphor to the phone zone.

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