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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