Why Jobs Report Made Stocks Tumble
Carl F. Worden
No wonder investors dumped stocks to the tune of -256 points on 1/4/08.
Personally, I deal with a number of large automobile dealerships as clients, and all of a sudden I’m having to call and ask why my billings aren’t being paid. If you haven’t been paying attention, auto dealers are feeling a major squeeze because they are not selling cars, and a number of them will go out of business in the next 12 months. I know it and I can feel it. I even have one major Toyota dealership that is delaying their payables to preserve cash flow, and if any dealership does well, it is a Toyota dealership that sells popular autos like the Prius.
Can you imagine what the jobs report would have looked like in a different month like June?
We’re heading into severe hard times, folks, and you need to plan for it to last at least four years or more.
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