Is The Auto Industry Slowdown Signaling Trouble Ahead For The Overall Economy
While it's not as applicable today, there used to be a saying that "as goes GM, so goes the economy." While the "Big 3" aren't quite as big as they used to be, they still offer vital clues about the overall economic health of the United States. Unfortunately for anyone who has been paying attention, those "vital clues" are all flashing red warning signs as each passing day seems to bring more news of idled plants and/or shift reductions (see here and here). Of course, rising interest rates, tightening credit, softening used car prices and rising subprime auto delinquenci