Eugene David
...The One-Minute Pundit

Tuesday, December 16, 2008


Johnson Controls Inc., one of the auto industry's biggest parts makers, handed in its 2009 outlook Tuesday. It was not pretty.

The company predicted only 9.3 million cars and light trucks will be sold in the United States next year. That's down from 16 million in 2007 and about half of the nearly 18 million cars sold in the go-go year 1999....

How bad will it get? If U.S. car sales drop to 9 million vehicles next year, it will be the first time -- with the exception of the World War II years -- the number of cars sent to the scrap yard will top the number of new cars sold.

Economists call it auto deflation.


I call it a depr -- DEEP RECESSION.

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