SD Jarhead Posted December 18, 2008 Posted December 18, 2008 And went from deflation toward hyperinflation? http://www.bloomberg.com/apps/news?pid=new...id=a1MsoPDHjFS4 Granted more must happen before inflation takes hold, but this is clearly a step in that direction if the slide continues... We all realize that we eventually are facing an severe inflationary period, right?
molson_golden2002 Posted December 18, 2008 Posted December 18, 2008 While we are at it let's throw in some more unemployment: http://news.yahoo.com/s/ap/20081218/ap_on_.../meltdown_autos DETROIT – Chrysler announced Wednesday it is closing all its North American manufacturing plants for at least a month, the starkest move taken by U.S. automakers as they anxiously await word about government loans. All three companies have been taking dramatic steps as they struggle to survive the recession and U.S. sales have dipped to their slowest rate in 26 years. Chrysler and General Motors fear they might not have enough money to pay their bills in a matter of weeks. Attempting to cut costs, GM was halting construction of a plant tied to one of its most important projects, the Volt. Ford also said it will shut down 10 plants for an extra week in January because of sluggish sales. Chrysler said it would extend the normal two-week holiday shutdown that begins Friday to at least Jan. 19 at all 30 of its factories due to slumping sales. The lack of consumer credit is hampering sales and forcing the production cuts, Chrysler LLC said in a statement. Chrysler, Jeep and Dodge dealers say they have willing buyers for vehicles, but they can't close the deals, Chrysler said. "The dealers have stated that they have lost an estimated 20 to 25 percent of their volume because of this credit situation," the statement said.
SD Jarhead Posted December 18, 2008 Author Posted December 18, 2008 Don't worry...they can all go to work at the job bank. Yes, I know, that was in poor taste...
ieatcrayonz Posted December 18, 2008 Posted December 18, 2008 While we are at it let's throw in some more unemployment: http://news.yahoo.com/s/ap/20081218/ap_on_.../meltdown_autos I believe Chrysler closes its doors for 2 weeks every Christmas. I'm sure hope this is a paid vacation for the union workers!
pBills Posted December 18, 2008 Posted December 18, 2008 30 plants shut down for a month. Not a good sign.
ACor58 Posted December 18, 2008 Posted December 18, 2008 30 plants shut down for a month. Not a good sign. But necessary since demand is currently not there. You can't keep making cars if people are not willing or in a position to buy them.
Lurker Posted December 18, 2008 Posted December 18, 2008 And went from deflation toward hyperinflation? The Eurozone and Asia will see their export-based economies implode soon enough and they'll be cuting their rates too, which should provide support for the dollar. We'll worry about inflation once the fire is put out...
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