As the Summer of Recovery© continues, evidence reveals the overall fail of the Obama economic policies. Recently, housing sales tanked. All this year, the government and their media apologists have been forced to discuss, “unexpected” and “unanticipated” statistics, like increases in unemployment and decreases in economic indicators. For the latest, Hot Air provides us with a link to see how “Government Motors” are doing.
U.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs.
Industrywide deliveries, to be released tomorrow, may have reached an annualized rate of 11.6 million vehicles this month, the average of eight analysts’ estimates compiled by Bloomberg. That would be the slowest August since 1982, according to researcher Ward’s AutoInfoBank. The rate would be 18 percent below last year’s 14.2 million pace, when the U.S. government’s “cash for clunkers” incentive program boosted sales.
“Home sales are way down, the stock market is way down, the unemployment report is very disappointing and consumer confidence is sputtering,” Jesse Toprak, vice president of industry trends at TrueCar.com, said in an interview. “People just don’t want to make big-ticket purchases because they’re uncertain about their jobs and the value of their homes.”
Source: Bloomberg
I wonder if this will be another “unexpected” event? The sad thing is this; anyone with half a brain could have predicted this. There is government inflicted economic uncertainty on a massive scale. People don’t know if they’re going to get taxed to death next year. They don’t know if either the taxes, ObamaCare, or environmental regulations will cause them to lose their jobs.
In the end, the government is treating the economy as if it’s some sort of social engineering laboratory, and we rats aren’t playing ball. Their ideas are based on the faulty premise that the government can manage or create demand. It hasn’t worked before, and it isn’t working now.
So dear readers, the question is this; is it stupidity, or Cloward-Piven? Discussion is welcome.
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I work in the auto industry, for a luxury brand, and we had out best month in almost a year!
Lol. I guess Obama hasn’t managed to kill it all of yet.
Domestics mainly. Go figure.
I heard the actual numbers on the way home from work. They are much worse than predicted. I think GM lost 25%. However, it is compared to cash for clunkers, so drops are to be expected.
But didn’t you hear? Barack Obama and Joe Biden said we are moving in the right direction.
If they think this is the right direction perhaps this is not sheer stupidity after all, perhaps it is part of the plan.
It’s like these guys are on the Titanic, saying, “iceberg? What iceberg?”
Ford is not having as much trouble as GM:
Source – http://www.dailyfinance.com/story/autos/dogged-by-an-ailing-economy-august-auto-sales-slump/19617141/