See this news story.
The Federal Reserve is about to start up a $200 billion program to directly support credit markets for auto loans and other kinds of consumer credit. This of course is unprecedented, as I've said, and we'll see what happens.
The automakers, for their part, are repeating one of the two ways to interpret the current low-demand environment: they're out there saying that people aren't buying cars because they can't get credit.
What if it turns out that people aren't buying cars because they'd rather save their money instead? That's the other interpretation, and it's the one I'm voting for.
The Federal Reserve is about to start up a $200 billion program to directly support credit markets for auto loans and other kinds of consumer credit. This of course is unprecedented, as I've said, and we'll see what happens.
The automakers, for their part, are repeating one of the two ways to interpret the current low-demand environment: they're out there saying that people aren't buying cars because they can't get credit.
What if it turns out that people aren't buying cars because they'd rather save their money instead? That's the other interpretation, and it's the one I'm voting for.
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