Since almost no one will ever buy a new car again -- indeed, it is doubtful that any car manufacturer will survive the "Greatest Depression", as Gerald Celente has termed it -- enacting tougher fuel standards now is pretty worthless.

P.S.

THIS is what will be responsible for lowering greenhouse gas emissions:

Driving less: A new trend for consumers and their cars?

According to the Department of Transportation, Americans are driving less. The Department’s statistics show that Americans drove 7 billion fewer miles in January 2009 than the year prior. Since November 2007, the number of miles driven has continued to decline each month compared to the year prior.

Another sign is the increase in public transportation usage. Public transit is at its highest level of ridership in 52 years--an increase of four percent over last year. We have also noted this year that traffic deaths have declined and there are fewer cars on the road.

http://tinyurl.com/qk4w4z

Really, 'no one will buy a new car again'?

Even for you that's a little shrill. You have helpfully showed me some links to some pessimistic data points and such but now you're just exaggerating for effect, right?

SEE:

http://tinyurl.com/ozpngu

http://tinyurl.com/puq23z

http://tinyurl.com/oow66c

and

http://dailyreckoning.com/looking-back-on-the-greatest-depression/

SEE ALSO:

"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention

http://tinyurl.com/oxfu9q

I'm sticking with Nouriel on this one. We get out of this in 2010.

We'll still have problems, but the world isn't ending. And I personally know tons of folks buying new cars. You do too, don't you?

re: I personally know tons of folks buying new cars

-

US auto sales fall 34% in April

http://tinyurl.com/qlsmpe

Toyota Cuts Production 28% to 7-Year Low as Auto Sales Plunge

http://tinyurl.com/r9aecx

Believe what you wish. I'll believe the data -- and I don't see any that is remotely positive.

Your own links say auto sales plunged 34%...which means HUNDREDS of thousands of new cars are still being bought every month.

It just doesn't do your case any good to be so shrill. You have some good concepts in there, and some of your links are helpful (although there are plenty of others who aren't panicking anymore, like Roubini). But your signal is lost in the noise...

So yeah, I'll 'believe what I want' and you'll do the same and we'll see what we'll see. Links to data points in a recession will of course be 'scary'. A year from now as things are improving will you link to those data points?

I bet I know the answer to that already...

re: Really, 'no one will buy a new car again'?

Reread my statement. You left out the word "almost".

re: Your own links say auto sales plunged 34%

That's been the case for months now and will continue going forward. One by one the auto companies will shrink, then die. In case you missed it, Chrysler is kaput and GM is close behind.

re: there are plenty of others who aren't panicking anymore, like Roubini

As I've said before, Roubini is an optimist. But even he tempers his forecast:

-

Green shoots or yellow weeds? A trifecta of risks to the early bottoming out of the recession and short-term economic recovery and to the medium-term actual and potential growth prospects of the global economy

Nouriel Roubini | May 19, 2009

http://tinyurl.com/qyftr6

re: A year from now as things are improving

We're right back where we started. Other than blind belief, you have no basis to think anything is improving. All of the data is negative. "Less bad than predicted" does not mean positive. There is no magical mechanism that will suddenly turn this around. Indeed, it continues to feed on itself. Millions upon millions of jobs are gone forever, more and more people are slipping into insolvency, etc.

Again, believe what you wish. I'll stick to the data and facts.

re: Really, 'no one will buy a new car again'?

Reread my statement. You left out the word "almost".

---- Hundreds of thousands of cars a month. More than almost no one. Those are facts.

re: Your own links say auto sales plunged 34%

That's been the case for months now and will continue going forward. One by one the auto companies will shrink, then die. In case you missed it, Chrysler is kaput and GM is close behind.

--- Do you know what 'kaput' means? Or bankruptcy. Today Chrysler will sell thousands of new cars. Tomorrow too. They are operating in bankruptcy, like half the airlines do. We can agree there is excess capacity in the industry and these companies will have to merge and/or shrink. But your hysteria implies some end date where no cars are ever made or bought...really?

re: there are plenty of others who aren't panicking anymore, like Roubini

As I've said before, Roubini is an optimist. But even he tempers his forecast:

-

Green shoots or yellow weeds? A trifecta of risks to the early bottoming out of the recession and short-term economic recovery and to the medium-term actual and potential growth prospects of the global economy

Nouriel Roubini | May 19, 2009

http://tinyurl.com/qyftr6

--- So now Scorpio is smarter than Roubini...who I have rarely heard called an optimist.

re: A year from now as things are improving

We're right back where we started. Other than blind belief, you have no basis to think anything is improving.

--- Uh, no. Facts too. You'd see them without your blinders.

All of the data is negative.

--- Hysterical and wrong

"Less bad than predicted" does not mean positive. There is no magical mechanism that will suddenly turn this around.

--- Doesn't need to be, it's called a cycle

Indeed, it continues to feed on itself.

--- If cycles never ended we'd never have seen past recessions end. Nor past booms for that matter.

Millions upon millions of jobs are gone forever, more and more people are slipping into insolvency, etc.

--- Forever, no. And more and more jobs will be lost until they stop being lost and start being gained, in 2010 as Roubini predicts.

Again, believe what you wish. I'll stick to the data and facts.

--- I will. But the facts aren't as monolithic as you think. Again, when we actually see positive growth or rising home prices or rising auto sales, will you link to that? Doubt it.