A SORT OF bright spot though, Ford lost 380 million last quarter and only 129 mil this month, they still lost big, but not as bad as they have been.

How's that a bright spot?
A quarter is a 3 month period.
Last month's losses 129 x 3 = 387 (more than what they lost last quarter)

 

Yea Stew....how do you figure? :doh:

Here's one possible answer. Joe, did you see Stew was from KENTUCKY?

THAT would explain it!

 

Hey watch it on the Kentucky remarks! Damn long-haired Yankees!

NP

 

Last night I heard the U.S. financial projections for 2009. Unemployment will surge to perhaps as high as 12% due to the collapse of construction, retail, and manufacturing. The Federal budget deficit will approach $1 trillion severely limiting the government's ability to react but the market for funds should not be a limiting factor. There will be a significant drop in the GDP but I did not hear the number. The expectation is that this will likely be the worst post WWII recession. Where is the bright spot?

 

Where is the bright spot?

I just saved a ton of money by switching my car insurance.

 

Whoops, sorry, it was late and I was still reeeling from a bad dealer experience (post on that later LOL). They lost 129 million last QUARERT, compared to 380 million the quarter before.

 

I just posted about your BAD dealership experience. I can see how you were probably not seeing straight.

Hey now, watch it LOL. Actually I am half Yank since my dad is from PA LOL.

Your dad is from your PA? I hear there's a lot of that down there in KY. My condolences.

 

the bright spot is that you guys voted in the right man!

(I was starting to get a little worried about Mcain and Barbie)

 

ha ha ha ha ROFLMAO

 

I'm glad the "merger" may be going away. GM would have taken over Chrysler, sucked out the cash reserve and shut down the Chrysler company along with the dealers. Perhaps Jeep might have survived, but I think GM would place the Jeep in the GM dealerships. It would have been a disaster for Chrysler dealers.

Our local dealership, Mullin Motors, who is only Chrysler/Jeep is THE town dealership. Just about everybody in town drives a car from Mullin. They are a wonderful family owned dealership and are a fixture here. This week they didn't advertise in the local paper, and that's the first time I saw that happen. I hope they can pull through this mess, not because I own a Jeep, but because they do not deserve to be hurt. So if anybody reading this is on Long Island, NY and looking for a Jeep, buy one from these folks, they stand behind their customers.:smiley_thumbs_up:

 

UPKEV, The stock market collapse and recession of 1929-1930 were severe but the depths of the great depression occurred in 1932 - 1933 after a stabilization in 1931. What drove the economy into the ground? Well you can look at it as Smoot-Hawley Tariff Reform Act preventing free trade, reversal of the Mellon tax cuts that reduced the top tax rate from 65% to 25% or the tightening of the credit markets to let small banks fail and the larger banks survive but there must be a reason why most countries had recovering economies in the early thirties but the U. S. turned sharply down.

As for panicking I think not. My exposed portfolio is limited to my house and perhaps 25% of my investments. I have decided to hold of on starting a business because it would depend on consumer discretionary purchases and that is not a good place to be next year. Even the most optimistic of economists is, however, predicting unemployment to approach 8% and all expect the deficit to be over $1T (I think that is how a trillion is abbreviated) and that is not including supplementary economic assistance of between $100 - $300b USD.

Yes it is true that in 5 days it is too early to expect the President elect to have done much of anything. I would have expected, however, some salve that would address the stock market drop of about 850 on the DOW the first two days after election and he knew the question would come up.

 

Its all Coke vs Pepsi to me.

But then, I don't vote in your elections (mine either for that matter). If I did, I would have voted for Ron Paul (in mine too).

 

Makes me glad I live in Canada. I feel for you Americans. You're country isn't doing so well. We're effected by it too, but not as badly.

 

Just wait. If we Crash and burn, (financially) we will take the whole world with us.

 

Canada will be hurt by the decline in demand for oil and manufactured goods from the U.S. We also will have to send back 1000s of overpaid hockey players that will put Canada into a crisis as they deal with the increased number of bar fights over who has less front teeth and which is better on french fries, mayonaise, vinegar, or ketchup. Canada has become the focal point in the world condiment war.