Monday Melange

An update on yesterday’s post about iTunes: apparently, I can rip music from CDs into iTunes, but that means going through my large CD collection and “re-ripping” music that was on my previous computer. Apple has really dropped the ball on this, in my opinion.

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In my previous blog I wrote a little more about economics and finance and a little less about cars. In that vein, one criticism of the tax bill that went into effect in January, 2018 was that all of the “extra” cash for corporations would go into dividends and stock buybacks and very little would go into capital expenditures, or capex.

From blackrockblog.com comes this piece written in late June, 2018 entitled, “The re-opening of the capital spending spigot.” An excerpt from the article reads, “Capital spending over the next 12 months is expected to grow at its highest level since 2012, a Deloitte survey finds. And S&P 500 first-quarter earnings results confirmed U.S. companies were investing at multi-year highs. [emphasis mine]

It’s too early to make the call on a new and enduring capex regime, but growing corporate profits, greater business confidence and tax cuts in the U.S. should support investment spending in the medium term.”

Republicans are wrong in assuming that the Marginal Propensity to Consume (MPC) and Marginal Propensity to Invest (MPI) are close to one, but Democrats are wrong in assuming that the MPC and MPI are close to zero unless the stimulus is direct government spending. Companies make decisions based on the expected net present value of future cash flows and if an investment will yield them a strong positive return, then they will be inclined to make such an investment. A higher after-tax return makes more investments potentially worthwhile.

While I will not live to see this happen, it is my fervent belief that the divide in American politics is terminally intractable and that divide will lead to the dissolution of the United States as we know it. The mindless and intolerant vitriol from both sides only shows signs of worsening.

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See the source image

From carswithmuscles.com a photo of a 1968 AMC AMX. The AMX was a two-seat muscle car introduced by American Motors for the 1968 model year. The AMX was, in essence, a Javelin with the wheelbase shortened and the rear seats removed although the base drivetrain was different. For example, all AMXs were equipped with V-8 engines with four-barrel carburetors. The base Javelin engine was an inline 6-cylinder with a one-barrel carburetor.

The AMX was a distinct model for only three years, 1968-1970. After that, “AMX” was the name of an option package for the Javelin. For the three years in which the AMX was a model unto its own, total sales were only about 19,000.

My wonderful wife really likes the look of these cars. I am not in agreement as I think the fastback shape is too chunky with too much metal behind the rear window. This car is one of the very few about which we disagree. I think the Javelin looks better.

See the source image

From curbsideclassic.com a picture of a 1968 AMC Javelin. In my opinion, this generation of the Javelin is very underrated in terms of styling.

Do you have an opinion on the AMX and the Javelin? What cars do you think are mostly forgotten in terms of styling? As always, I hope to read your comments.

 

Thumbs Down On iTunes

Regular readers know I purchased a new desktop computer in early July. Yesterday, I decided it was time to sync/backup my iPhone with my new computer. Much to my chagrin, the iTunes “library” on my computer only has the 30 songs that I purchased from iTunes, not the entire collection of roughly 750 songs. BOO! That wasn’t always the case, either.

My tastes in music are decidedly non-mainstream. I even have songs on my iPhone that I have created through editing. How am I supposed to back all of these up now? Does anyone reading have a solution? Why should I have to purchase music from iTunes that I have already purchased on CD and ripped to my computer? Shame on you, Apple.

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This is the most expensive road-legal car currently listed for sale on Hemmings, not counting estimates on cars soon to be auctioned. It is a 1963 Ferrari 400 Superamerica LWB.

From the ad:

“The 400 Superamerica is often considered to be the grandest of Ferrari’s grand touring automobiles, as it is utterly uncompromising in every sense. The Superamerica offered its owners nothing but the finest in terms of automotive technology, with cutting-edge design, performance, and luxury. This particular Ferrari is one of the final examples constructed, and it is truly capable of anything its next owner desires.”

I actually don’t think this 400 Superamerica has as good an exterior design as most other Ferraris, but what do I know? So, what is the seller asking? $3,500,000…that’s not even close to the most expensive private sale about which the price is known.

The $70,000,000 FERRARI GTO and the 1964 Pontiac GTO

From americancarsamericangirls.com a picture of a rare 1963 Ferrari GTO, only 36 of these were made. Reportedly, the car sold earlier this year for $70,000,000. This particular car finished fourth at LeMans in 1964.

I would love to be able to afford a $70 million car although I wouldn’t necessarily buy one. I think that what other people do with the money they’ve legally acquired is their business (and not for me to pass judgment, either) as long as the purchase is legal. I am pretty sure that if I could afford a $70 million car I would have multiple very nice cars in my garage.

What is the highest price you’ve ever paid for a car? Since I asked this of you, I’ll tell you my answer. I paid about $51,000 for my second Corvette, the 2007 model I purchased new. As I have written many times before, my baseball business was thriving then so the purchase wasn’t a stretch in the least. I paid for the 2007 Vette by trading in my 2002 Corvette and paying cash for the difference. By the way, according to smartasset.com, $51,000 in 2007 translates to $61,700 in 2018.

Once again, if you are reading Disaffected Musings please tell your friends to check it out. Also, please feel free to post comments relating to the content. Thanks.