|
Auto industry sales collapse |
|
|
|
|
Written by Stumo
|
|
Wednesday, 15 October 2008 |
|
Buying a new car really seems like a bad family decision these days.
One analyst, Rod Lache of Deutsche Bank, estimated Tuesday that October sales would be down 30 percent to an annualized rate of 11 million vehicles, a rate last seen in 1983. He projected G.M.’s sales to be down as much as 50 percent after its employee discount sale ended in September.
Will you keep your job? Will your factory continue having customers? Will your farm income pay for high priced crop inputs given plummeting commodity prices? Will your pension... never mind... nobody has a pension anymore. Will your 401k be there? What is safe?
This is what happens when we offshore our economy. The result is we have no economy. Or at least we don't have a strong one. Job number one is building a sustainable economy again. One that makes and grows things.
Trackback(0)
 |
|
In the news
|
On the lighter side, these are some of the favorite headlines from the parody news website, The Onion, as chosen by Moyers and Winship.
$700 BILLION BAILOUT CELEBRATED WITH LAVISH $800 BILLION EXECUTIVE PARTY
GM COVERED WITH GIANT TARP UNTIL IT HAS MONEY TO WORK ON CARS AGAIN
AMERICAN AIRLINES NOW CHARGING FEES TO NON-PASSENGERS
CHINA RECALLS EVERYTHING
|
|
Read more...
|
|
TrackBack URI for this entry
Subscribe to this comment's feed