Consumers have cut their spending by the most in 28 years. When the National Bureau of Economic Research released their statement Wednesday, they suggested that the economy was sinking into even more of a recession. Many economists predict that the Feds will cut their lowest rate to a historic one percent. With people losing their jobs, consumers have cut their spending for the holiday season. The weekend sales for retailers was high but were cut drastically after the sale weekend.
Oh well. On to the car industry.
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