> The shortsightedness of this article [...] is breathtaking. [...] Celebrating Chinese buying more SUVs, the worst automotive fashion in the last two decades? Yeah, great.
Did we read the same article? There are many consequences for the oil crash. The article doesn't claim to rank all consequences - it just reports on a BofA study about the size of the wealth transfer. It also cites an increase in Chinese SUV purchases. Since when is reporting on facts equivalent to "celebrating" them?
You are right and the reporter should not have been the target of my anger. The analyst's statement is for me a symptom of what's wrong in our consumer society, but I cannot blame him personally for doing what he's paid to do: identifying investment opportunities and exploring future economic consequences of today's events.
Here's where my rage came from: (i) we cannot go on like this. We as a western society started with baby steps towards a future with a smaller ecological footprint. This was obviously also triggered by the last oil shock. (ii) we know that we cannot go on like this, yet many of our decisions are made considering only a single proxy of societal well-being, money.
The analyst states correctly "that's where money can be made, BMW will profit!". Yet for global society, it's a disastrous direction.
Did we read the same article? There are many consequences for the oil crash. The article doesn't claim to rank all consequences - it just reports on a BofA study about the size of the wealth transfer. It also cites an increase in Chinese SUV purchases. Since when is reporting on facts equivalent to "celebrating" them?