The mainstream media noted correctly this week that auto sales had slowed. However, as always, they ignored the long term perspective and either glossed over or ignored the implications of this weakness. "The automakers and the economy are in much better shape than the last contraction," say the Wall Street pundits, "so this little bout of weakness won't be too bad." Rosy Scenario, Director of Industry Infomercials at CNBC, approved the message.
Weakening US Auto Sales Send Ominous Signals
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.