Poor Us: The Great Depression 2.0

February 24, 2009

Joad Test

Filed under: Harbinger — Tags: , , — debacled @ 2:48 pm

I wonder if the people who are doing the buying reported in the first story have read about the coming disaster mentioned in the second story and if so are they just way more optimistic than George Soros or have they added up their chances and come to a more pragmatic conclusion?

Bestselling cars for 2009 –the list might surprise you

The number one vehicle purchased in the United States thus far in 2009, is none other than Ford’s F150 pick-up truck. Although F-150 sales are off a little over 39% year on year, people still want them. Ford Motor Co has moved over 25,000 units so far this year.Holding a close second place on the 2009 best sellers list is Chevrolet’s Silverado pick-up truck. Sales of these trucks are off by a little over 33% year on year, but Chevrolet has moved nearly 24,000 of these units thus far in 2009. Not surprisingly, the Dodge Ram pick-up truck is holding third place on the 2009 best sellers list. Unit sales of Ram trucks has declined over 35% year on year, with Dodge moving almost 13,000 of these units to this point in 2009. (more via Wallet Pop)

PLUS

George Soros: World Financial System Has Effectively Disintegrated … Turbulence More Severe than Great Depression – More Like Demise of Soviet Union

Reuters has the following bombshell: Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis. Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

How could it be worse than the Great Depression? Because the bigger the speculative bubble, the bigger the crash. And the bubble from 2001-2007 was the biggest speculative bubble in history. (more via George Washington’s Blog)

EQUALSJoadmobile from The Grapes of Wrath

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