Gee, I thought the economy was improving?
SEPT CHICAGO PURCHASING MANAGERS INDEX: 46.1 V 52E
**sub-indices:
- Prices Paid: 51.3 v 50.0 last
- New Orders: 46.3 v 52.5 last
- Employment: 38.8 v 38.7 last
- Inventories: 38.9 v 27.5 last
- Supplier Deliveries: 49.3 v 54.6 last
- Production: 47.2 v 52.9 last
- Order Backlogs: 36.7 v 45.8 last
Let's see.... besides the topline miss, we have prices paid up (bad), new orders down (bad), employment up 0.1% (marginally better to flat), inventories up (bad if you're not selling 'em!), supplier deliveries down (bad), production down (bad) and order backlogs collapsing (really bad.)
I know it probably gets old, but I told 'ya you were smoking 'dem "green shoots"!
(Still bullish are 'ya?)
LINK HERE
Cash For Clunker Ends, Car Business Plummets
After the government program boosts August sales, GM sees a 45% plunge in September compared with a year earlier. Honda and Toyota also report double-digit slides.
LINK HERE
The car salesperson is indeed an odd breed. Their whole purpose in life is to sell you a "unit", hopefully before the first of the month. I have seen their "chart" behind the salesmanager's desk. Some color code the sales with different meanings. The one I saw had some names in red, which meant if the salesman did not come through "soon" they were history. So, it's not just the commission, but the very fact of their keeping the job another month. To me this practice is barbaric for an employee to have to work under. This is why if they get the slightest scent of you, then its letters, phone calls, and contacts worse than a bill collector would do. When you walk in the showroom or lot, and they are fronted to you first, you become their "up". In other words you are "up" for them. I think its sort of taking turns or first sighted, first attacked. They will begin your interrogation, trying with all might to get your stats--name, address, phone, work, even to see your social security number or driver license to attempt at pulling up your credit score without your knowledge, which is against the law. If you breathe and have a job your a good target. At the very least they can get out of you, they can add you to their contact list (which MUST grown daily, or they are fired at the end of the month). It is their job to "prep you up" and then in comes a "closer" to nail you hard and fast. The salesman is pretending to be your buddy, while the closer first the last and final shot as the "bad guy". So it is to look like its you and the salesman against the dealership. When the salesman says it might be his job if he does not sell you, that could well be true.
ReplyDeleteAs long as people buy this bullshit, these snakes will continue to plague the American car buyer. It is time for it to STOP.
"Have a seat and a cup of coffee. Let me talk to my manager, we want to put you in one today".
ReplyDeleteRUN LIKE HELL!!!!!!
I agree with 12:57 100%. Thanks for the insite. I think one of the worst experiences ever was walking into a dealership to buy a car. It bothers me so much that I have been stalling my wife for over a year to buy a new car because I hate dealerships. Not to be a showoff, but I have cash for almost any car on the lot, but I just dont want to deal with the hassle. My car's a/c went out in May 2009 and I didnt care. I would rather sweat my rear off ALL summer (I did) than go to a dealership. Lucky for me my wife found another obsession and fall is coming (no need for a/c anyway).
ReplyDelete@1:10--
ReplyDeleteIf you want a new car, go through a Buyer's Agent, who for a fee will find you a decent deal. They will cut through the bullshit and name you the lowest price available on what you want. You close at their office, and drive off in the car. Sam's Club is good at that.
Also @1:10--
ReplyDeleteOr better yet---a new car is a used car waiting to happen, and at a horrible cost!!!
A two year old, from several non-dealer sources--represents excellent investment for good vehicles, at half the cost of new. For these, seek those people whose eyes were bigger than their wallets, and people who cant drive anything BUT this year's car.
The only reason to buy a new car (and I sure have done that) is to plan to drive every dollar you paid out of it.
Taking care of one is what makes it worthwhile.
Folks before you scream victory lets just look at what is happening. This is just a small dip and nothing more. Comparing our position from the start of this crisis to now we are doing better. The Indicators are not as good as last quarter but certainly much better than what it was at the beginning of this crisis.
ReplyDeleteOne more thing, Most of you should be ashamed of yourselves as when those indicators show good result you simply reject them as being manipulated and mainstream and now when they show a dip you hail them and trust the data. open your mind people and stop being biased.....
6:27 you're not that far out to lunch are you? Money from the gov't was pumped into this market. This is not public cash, its money that has to be PAID BACK. This is sort of like a cocaine boost, when it wears off you come back to earth...keep doing coke you get addicted then you eventually die. Man are you DUMB. YES its Much better..LOL
ReplyDelete6:27, Have a seat and a cup of coffee--let me talk to my manager-------I know I can beat your last quote by say-------$500.00?
ReplyDelete6:34 & 6:44 congratulations for your very intelligent comments. So far all your Doom and Gloom Sh*t predictions has fizzled and so will you.
ReplyDelete6:27 the cocaine boost you are referring to is more like a life support and once you are cured and the life support is removed, you don't die you keep living and recover. We are in the process where we start removing the life support bit by bit until the economy stands on its feet and recover completely. It is going to be a long and painful process and dips like we have seen in the above article will happen until we recover completely.
ReplyDeleteMost people on life support don't make it.
ReplyDeleteThe jobless have wised up.
ReplyDeleteThey now print money for a living.
11:06 this what all the jobless are worth doing, they can never earn their living decently, they always have to find shortcuts. Just look into your local news paper and look at the rising amount of job vacancies coming up and they dare say they can't find a job...lazy basterds
ReplyDeleteSpeaking of lazy bastards, Fed fraudsters and banksters top the list and keep the entire slavery machinery greased to the max and squeezed its sheeple's blood to the last drop.
ReplyDeleteI wish I had a nickel for every time someone here said bankster, sheeple, and the Fed.
ReplyDelete6:27: Ashamed of myself? For years of studying and preparing for the worst depression in history? Nothing to be ashamed of mr govt agent.
ReplyDeleteDo you really think the supporters on this site are influenced by your idiotic, provocative misinformation? It's good your wasting your time here, as we Patriots are fully aware of what is going on. Please keep your comments coming, we want you to think your influencing us.
Remember, it wont be long and your govt paycheck will be worthless. What you gonna do then?
(and yes, I know I am breaking my own rule of ignoring the provocateurs, I just want to keep reminding them their paychecks will be totally worthless in the near future)
I coming to this country for to find the job and no speaking the english. Now after one year I pay for the house and make a big cleaning business. Before I no speak english, but I for coming legally from mexico. I had to do many things to come over to here correctly, and the people they say I am illegal, when I try for to do things right, and work very hard for my family.
ReplyDeleteI think you maybe try to go to my country and for to find a job or to start the business...it is impossible to doing.
Maybe people over here they have to much problem with the Government. I going thru hell to coming over here legally, and now I paying taxes like crazy. It's ok because my life is better. When I made the business for the recycle bottles in mexico to sell back to the beer company, the competition they come and break all the bottles in my warehouse for to put us out of business.
This is how stupid crazy my people are down there.
Juan
unemployed = anti-american
ReplyDeleterooting for the usa to not get the olympics=anti american
ReplyDeletebtw, pay big taxes in the u.s? wait till health care kicks in, do you know how much tax europeans pay for health care. if its so great why do they revolt like mad in the streets, we dont have that in the usa, not yet at least, so things arent that bad. once the revolting begins,which I thought would happen this summer never did.so things are still ok.
ReplyDeleteYes the economy is improving much faster than expectation. Markets are gaining individual investor's trust.
ReplyDeleteherbes