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Folks that bought 500k homes and sports cars recently are about to come back down to reality again. Back when the big 3 layoff rate was high and the recession kick in, there were many foreclosures around my upper-middle-class neighborhood. Builders have been spitting out 500k and up homes to Big 3 employees for the past 6 years plus. Schools are overcrowded because of the new house developments with resort style amenities. My neighbors and I was talking back 6 months ago about how these home builders and consumers haven't learned anything from the last Big 3 downturn and the recession.
I do believe in rescuing our country from it's hazardous path. Just how long do you think we can maintain a service economy where servers are only serving servers? People are demanding better wages (wage growth has stagnated) but all we are doing is a circle jerk with the same money and no new assets.
We need manufacturing to power R&D. If we are not producing wealth and innovating, then we are doomed to share the same pool of money.
You want better wages for more people? Get us out of the circle jerk.
we are presently # 2 in world in manufacturing on pace to move to #1. That's not really the issue.
Big mistake. People will not warm up to self driving cars and electric cars just do not have enough broad appeal let alone economic viability without government incentives. Is that GM's plan? Have the feds subsidize their operation? I doubt Mr. Trump will give them a bailout like Duhbya and Obama did.
GM did warn that they are out $1 billion because of tariffs months ago. Other companies like Target have also issued warnings. Trump isn't good for America. We are more divided than ever. Companies are starting to feel the effects of his economic policies. We will be in recession late next year or going into 2020.
LOL...so GM makes crap cars that no one buys....and it's Trump's fault...and tariffs fault
Correct. The quality might have been attractive at the right price, but if the price goes up as a result of new tariffs, it might make it less attractive.
LOL...so GM makes crap cars that no one buys....and it's Trump's fault...and tariffs fault
And GM is going to focus on more little electric golf carts....while.....Ford is getting rich on trucks
..you can't fix stupid
UM, Ford has already announced some 24.000 job cuts last month. Not all in the U.S. - but like GM it's re-evaluating what it builds.. Also like GM, Ford has taken a roughly $1 billion hit from Trump's tariffs. Ford has said the cuts are not related to the tariffs, but certainly a $1 billion adverse impact has got to hurt.
Like car sales, truck sales are down too. Part of that is likely due to higher interest rates, hard to say for sure. What IS certain, is that car/truck sales, like home building and home sales have dropped lower than they were 2 years ago when Trump came into office. Both of those segments of the economy seem to be slowing down.
Ken
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