Wednesday, September 1, 2010

GM Ford Has Worst August In 28 Years As Economy Crashes

General Motors Co. and Ford Motor Co. reported sales declines that exceeded analysts’ expectations as the U.S. auto industry headed for its worst August in 28 years. Chrysler Group LLC deliveries rose more than expected.

GM said deliveries fell 25 percent to 185,176 from 246,479 last August, when the U.S. government’s “cash for clunkers” incentive program boosted sales. The largest U.S. automaker was expected to report a 19 percent decrease, including an adjustment for the number of selling days in August, the average estimate of four analysts surveyed by Bloomberg. On that basis, sales fell 22 percent, Detroit-based GM said in a statement.
More Here..

Construction Spending Tumbles
WASHINGTON (Reuters) - U.S. construction spending fell more than expected in July to its lowest rate in 10 years, according to a government report on Wednesday that added to fears economic growth was stagnating.

19 comments:

  1. This does not suprise me the least. When the cost of (Ford) pickup trucks are still avg.'g 35K-40K. The economy is in the crapper and yet, these dealers are selling as if it were 5 years ago. I have come to the point that I'll be damned if I will support the Unions/GM, or their path to Socialism. Nor will I cohabit the slimey world of Barry.

    2 million folks are laid off, many more on short time and reduced wages. Yeah, I will risk my financial security, when, not one, ont one of these companies have made any effort to reduce the sticker price on the vehicles. Yes, they run "cash for clunker", and think this motivates people to buy, and it did, but the jackasses that think this is a freebie, think again, you moron, you are the one who will pay for it.

    Dumb sheeple!

    ReplyDelete
  2. Yes, as unemployment sky rockets upward, there simply are not enough employed people to buy cars, so yes, sales will go down and continue to go down. Things will get much much worse before we see any type of recovery. We are just starting the depression. Soon, people will have no food.

    And the govt and govt controlled MSN reports everything is ok.

    Me thinks there are some sheeple slaves waking up to reality. Watching tv is NOT reality, being unemployed and waiting in a food line is reality.

    ReplyDelete
  3. I would sure love to buy a nice diesel powered 4x4 truck with 4 doors and...

    Oh crap, I forgot, I don't have a job! Been out of work since Sept. of 2008.

    If I had a job, I could buy a lot of things.

    ReplyDelete
  4. Markets are having a huge rally at the moment. If you don't invest now you'll miss out.
    Economies are set to boom again and things are looking better than ever.

    Depressions are a thing of the past, they will never come again.

    ReplyDelete
  5. unemployedmalehookerSeptember 1, 2010 at 5:23 PM

    2.02 are you into the hooch again or just trying to be funny.Me thinks your stuck in a time warp of sorts.

    ReplyDelete
  6. YOU MERICAN BOYZ NEED A KAR MADE BY TATA MOTORS!!
    IT GO CHEEP, CHEAP DOWN DA ROAD!!!

    ReplyDelete
  7. 12:40 is about right.

    People in the US have become neurologically deranged through their obsession with electromagnetic images. People put the T.V on, don't turn it off, let it run all day in their house with crap they aren't even enjoying. The amount of images that floods their brains is so consuming it's bogus. Most things people believe are real today derive from television shows. They are void of any reality.

    They have plenty of images sitting in their brains about the "world out there" which don't exist, and pretty much no actualities which are contained within their own locality. If not through television then it will be through youtube, myspace, text messaging, or other idiotic forms of entertainment that they become compulsively hooked on.

    Face it, not many are on the internet searching information about the coming collapse. There may be a good number but most are on it to search celebrity gossip, watch sex videos, make up a second life on a forum, or watch some fool make up funny songs on youtube.

    This isn't a joke either. Go look at Generation Y, their heads are roasted! Watch the way they stare blankly if you say one meager statement which involves using just an exiguous portion of the intellect. They are a headless generation. How could that happen considering the amount of schools, bookstores, free learning resources, freedoms, and material conveniences the US has? How could they be dumber than the youth of third world countries who might not even have televisions? Or could it be that their brains have literally become burnt out?

    Why would people develop such habits? Is all that an unconscious way for humans to elude real life perhaps in the same manner as dogma and drugs? Sounds plausible, but soon no one will be able hide. Who exactly is going to be the start of the rebuilding of the world after all the smoke clears? It apears the offspring of those who escalated this mess will be. Wonderful!

    ReplyDelete
  8. Over 32 ads and running strong. Business must be good!

    ReplyDelete
  9. 4:55 its not good, this site may be closing in the near future. Too much time, no income and nothing to show for it...plus the many complaints. Who needs the headache?

    ReplyDelete
  10. 5:08 NOOOOOOOOOOO! Don't listen to these whiners. They are the minority. People just like to bitch. Notice every post is basically someone bitching about SOMETHING? Well, don't take it personally. You are the Drudge Report of economic armageddon. You are needed.

    ReplyDelete
  11. EA - This is a GREAT site. Please put a note on the site that it will close--by a certain date--if you do not get more in the way donations.

    ReplyDelete
  12. Give me a phucking BREAK......did anyone see the ralley today?

    All the bitchin and moaning, it ain't as bad as they all say. There are 50 posters here that all post the same shit over and over.

    2:02 is on the money. DOW to 14k and you will miss the train. Who gives a shit if it's fiat? It still spends the same,lol.

    ReplyDelete
  13. "2:02 is on the money. DOW to 14k and you will miss the train. Who gives a shit if it's fiat? It still spends the same,lol."
    right on!
    Untill it dont.
    Why with more money printing and quantative easing predicted the Dow will hit 30K soon.
    Right now the Dow runs at about 10 k sanme as it was about ten years ago 10K.
    But does inflation cut the real value of that 10k today in todays dollars?
    Does it really "spend the same LOL?"
    But I agree , living in your Fiat money and counting Dow dream world too, I am sorry that i did not buy the dow 10 years ago at the old 10k I would be rich now -I think-.
    What a missed oportunity !

    A real share market boosting troll ,would be boasting about the profits made by selling at the 14k level not crowing about 10k

    ReplyDelete
  14. The stock market is fueled by computer trading almost completely, the individual investor is wisely staying out of a rigged game. I dont play with cheaters so I wont play the market. I dont have confidence in a computer controlled trading system I CANT WIN, SO I DONT PLAY. It's that simple.

    ReplyDelete
  15. Today was a short covering and brief good news rally. We still have the 20 day MA below the 200, which is a downtrend. The rally today bounced off the top of a descending triangle. Learn some technical analysis before you comment on a rally. I'm keeping my SPY puts for now.

    ReplyDelete
  16. Some not only have their head in the sand, their A$$ is in the sand also. Fiat is dying.

    ReplyDelete
  17. Well we are all suffering as far as work and income, on the whole. I know many people who are looking for jobs. Sooner or later we are going to need to start building better communities where we share resources. No more single person living in a 3,000 sf 4br house with oversized 4x4 extended cab, used for hauling 12 packs of pud light and golf clubs in the back.

    Can you imagine if we made unused living arrangements free, gardened and shared minimal solar use and public internet computers, how much better we could all be doing?

    Not when society is based around greed, stupidity, and arrogance.

    ReplyDelete
  18. Folks, try to understand, the stock market IS NOT the barometer of the economy, well, may 5%.

    These numbers obviously mean nothing when there is 9.5+ unemployment, forclosures at their highest rate EVER, saving also at their lowest, commercial properties being forclosed on.

    Wake up people, can you not see a scam? Ponzi? does any of these things not throw out red flags to anyone.

    Please dont't be lulled into a false sense of security, it isn't there.

    ReplyDelete
  19. We may do a lot of bitching (and we have plenty of reasons), but most posters know that the stock market has nothing to do with real life.

    A company's stock goes up when they "improve" the bottom line by firing workers. It doesn't matter that those workers can't buy the company's product anymore (or any other company's product). It only matters that the CEOs can give themselves bigger bonuses.

    If you don't understand how that spells doom for the middle class, then go back to watching your TVs.

    ReplyDelete

Everyone is encouraged to participate with civilized comments.