I read today about a calculation that was made that estimated that the national debt has exceeded the aggregate value of the entire country. Every asset. Technically, we are now bankrupt. More spending is not the way to go, and Japan's lost decade is a signal example.
I agree. Today it is reported that Chrysler will "idle" from Dec 19 to Jan 19. Cars are not selling, there is a surplus. Production went over demand, it's quite simple. For whatever reason the demand is not there......the fact is...it's not there.
If everyone wised up and said.....hey, I do not need a new car this year, that could have been the cause for the demand to go down. They projected wrong and over produced. For years I have been saying........as I drive past lot after lot of acres of new cars,and not just where I live, in other cities. Why do we need so many cars? Who is buying all these cars? Apparently no one is now.
I really do not have an understanding of economics, but it seems we(Americans) could manage awhile off the surplus of all that we have produced for awhile.
I know it does not help the economy, but somewhere it has to balance out.
purps