This blog attempts to educate people about how our economy works and to provide updates on what is going on in the economy that may affect them (See personal story at the bottom of the page). Neither this blog nor I are investment advisors, any opinions posted on this site are my own. Please seek a professional investment advisor to fit your personal investment goals.
Economic Charts
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Thursday, September 2, 2010
U.S. Auto Sales Hit a Deep Ditch
Multiple reports are coming out discussing how auto sales have hit a slump. Per the Washington Post today reported that Industry Trends stated this is the worst monthly sales number in 28 years. This is the result of pulling stimulus in an industry that needs false money injected to sustain itself. In another report I viewed yesterday on the German auto sales, they too had a cash for clunkers equivalent that is now in a slump after the removal. The manufacturers in Germany are now heading back to the levels they were prior to stimulus and it is reported the buyers of those cars are now feeling buyers remorse (due to getting rid of a paid off car and taking on debt for a new one). [ Read more ... ]
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