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Monday, January 8, 2007

You've heard of Irrational Exuberance...

...Now how about "Irrational Patriotism."

I particular like the following quote from the article mentioned from the above link:

"Auto industry analysts say many people have the perception that cars made overseas are built better than American cars. But the performance of American-made cars is now actually very close to those made in Japan and higher than many cars made in Europe, they said. Foreign cars do have an advantage in resale value, however."

...Makes one wonder what these analysts think the major determinents of resale value might include.

Foreign cars pretty much across the board hold their value better than American cars. The main reason is obviously because foreign cars are more reliable, dependable, and parts are more accessible and easy to install, etc. ...In other words, they are "built better."

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