{"id":38426,"date":"2018-09-28T08:41:50","date_gmt":"2018-09-28T13:41:50","guid":{"rendered":"http:\/\/olduvai.ca\/?p=38426"},"modified":"2018-09-28T08:41:50","modified_gmt":"2018-09-28T13:41:50","slug":"new-vehicle-sales-collapse-and-pending-home-sales-plunge-as-americas-economic-slowdown-accelerates","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=38426","title":{"rendered":"New Vehicle Sales \u201cCollapse\u201d And Pending Home Sales \u201cPlunge\u201d As America\u2019s Economic Slowdown Accelerates"},"content":{"rendered":"
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New Vehicle Sales \u201cCollapse\u201d And Pending Home Sales \u201cPlunge\u201d As America\u2019s Economic Slowdown Accelerates<\/a><\/h3>\n<\/header>\n
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\"\"<\/a>In late 2018, the bad economic news just keeps rolling in.\u00a0 At a time when consumer confidence is absolutely soaring, the underlying economic numbers are clearly telling us that enormous problems are right around the corner.\u00a0 Of course this is usually what happens just before a major economic downturn.\u00a0 Most people in the general population feel like the party can go on for quite a while longer, but meanwhile the warning signs just keep becoming more and more obvious<\/a>.\u00a0 I have been hearing from people that truly believe that the economy is \u201cstrong\u201d, but if the U.S. economy really was in good shape would new vehicle sales be \u201ccollapsing\u201d?<\/a>\u2026<\/p>\n

According to the latest estimates<\/a> released by Edmunds, new vehicle sales for September are expected to collapse<\/strong> both on a monthly basis and year-over-year basis. The company predicted that 1,392,434\u00a0new cars\u00a0and trucks will be sold in the U.S. in September, which makes for a estimated seasonally adjusted annual rate (SAAR) of 17 million.\u00a0This will be a\u00a05.4% decrease from last month and an 8.3% drop from September of last year.<\/strong><\/p><\/blockquote>\n

Those are absolutely terrible numbers.<\/p>\n

And this news comes after all of the major automakers had already revised earnings guidance lower.\u00a0 The following comes from Zero Hedge<\/a>\u2026<\/p>\n

The drop in sales capped another rough month for the auto industry<\/strong> during which Detroit\u2019s carmakers all revised their earnings guidance lower<\/strong> and Ford embarked on a five-year restructuring plan. Earlier this week, we reported<\/a> that Ford\u2019s CEO claimed that President Trump\u2019s auto tariffs had cost the company $1 billion in profits.<\/p><\/blockquote>\n

Sadly, this may just be the very beginning of the auto industry\u2019s troubles.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

New Vehicle Sales \u201cCollapse\u201d And Pending Home Sales \u201cPlunge\u201d As America\u2019s Economic Slowdown Accelerates In late 2018, the bad economic news just keeps rolling in.\u00a0 At a time when consumer confidence is absolutely soaring, the underlying economic numbers are clearly telling us that enormous problems are right around the corner.\u00a0 Of course this is usually […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[14223,195,18659,6431,11848,21974,10264,11744,10294,11849,21975,4901,15961,8474,570,21976,21977,13673,7452,7034,21978,7883],"class_list":["post-38426","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bad-economic-news","tag-debt","tag-debt-levels","tag-economic","tag-economic-downturn","tag-economic-news","tag-economic-numbers","tag-economic-slowdown","tag-home-sales","tag-major-economic-downturn","tag-major-problems","tag-michael-snyder","tag-more-debt","tag-new-vehicle-sales","tag-news","tag-pending-home-sales","tag-sales","tag-slowdown","tag-the-economic-collapse-blog","tag-the-economy","tag-vehicle-sales","tag-warning-signs"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38426"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38426\/revisions"}],"predecessor-version":[{"id":38427,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38426\/revisions\/38427"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}