Biz

Ruh-Roh, US Automakers

BAD NEWS FROM CHINA … || By FITSNEWS || How does the Chinese economic slowdown affect you? Well, if you’re an American taxpayer who helped bail out “Government Motors” (ahem, is still bailing out “Government Motors”) … you might wanna get that checkbook ready.  Again. That’s because the Chinese car…

BAD NEWS FROM CHINA …

|| By FITSNEWS || How does the Chinese economic slowdown affect you?

Well, if you’re an American taxpayer who helped bail out “Government Motors” (ahem, is still bailing out “Government Motors”) … you might wanna get that checkbook ready.  Again.

That’s because the Chinese car market – which GM and other U.S. carmakers are relying on to sustain their growth projections – is tanking.

“China’s import car dealers saw inventory days reach a mind-blowing 143 days in May. For context, the normal average has been 24-36 days,” the website Zero Hedge reported this week.

That follow’s last Friday’s report in The Wall Street Journal indicating June passenger car sales fell 3.4 percent – only the third monthly decline in three years (and the other two were the result of a weeklong holiday and a political crisis).

“Auto executives had been forecasting 2015 sales in China to slow to a high, single-digit percentage gain over 2014, but that now looks optimistic,” the Journal‘s John D. Stoll noted.

Indeed it does.  In fact the China Association of Automobile Manufacturers has slashed its 2015 growth projections from 7 percent to 3 percent – with further downward revisions possible.

What will Detroit do?

Probably nothing.  After all they can just pass the bill onto you in the event their Chinese sales projections continue to implode.

As bad as things are in China, though, life is still good for Hangzhou billionaire Li Shufu – who is getting a massive incentive deal from the taxpayers of South Carolina to locate his newest Volvo manufacturing facility in the Palmetto State.

In fact Shufu’s plant will get a $70 million interchange (at a time when S.C. lawmakers are clamoring for a gas tax hike to “fix our roads”).

They get you coming and they get you going, don’t they?

Yup … and yup.

Or as Shufu might say, “you pay now!”

***

Related posts

Biz

Donald Trump’s Economy Is Cooling

FITSNews
Biz

Robert Romano: Donald Trump’s Economy Set To Roar In 2018

Letters
Biz

South Carolina Attorney General Announces Walmart Opioid Settlement

Will Folks

24 comments

jimlewisgowb July 13, 2015 at 8:31 pm

“…..They get you coming and they get you going, don’t they….”

They get you coming, they get you while you are here and they get you going, don’t they

Fixed it for you, leaving out that middle segment of ramming it up my ass just didn’t sit right

Reply
GrandTango July 13, 2015 at 8:44 pm

dumbass sociopaths. go &^r#@(&^$# yourself. LMAO!!!

Reply
9" July 13, 2015 at 9:08 pm

Aren’t you gonna thank me for posting your bail,and the loving?

Reply
Pay Attention 2 History July 13, 2015 at 8:43 pm

At this rate, Chinese owned Volvo could simply cancel construction in SC.

Reply
GTFO my Country July 13, 2015 at 9:02 pm

4,000 South Carolinians will make 50K a year, and you liberals can’t do anything but bitch because Haley kicked your asses, to lure jobs here.

You are some miserable, hate-filled motherfuckers. You’re too fucking lazy to work, and you hate if other people want to provide for their families.

Fuck you, and get the fuck out my state. And get the fuck out my country, too. you Communist pieces of shit. America would be a shit-hole like Kenya or Cuba, if you got your way.

Reply
9" July 13, 2015 at 9:18 pm

Sounds like you need a good buttfucking.Surrender.

https://www.youtube.com/watch?v=4uEX0Ndh1yA

Reply
GrandTango the Profane July 14, 2015 at 8:48 am

Hey chump, how’s life in the trailer park? Gonna go back to “working” on your blog?

Reply
9" July 13, 2015 at 9:14 pm

These images from China are so damn creepy in a beautiful way.China’s not good with city-planning
http://io9.com/chinas-brand-new-abandoned-cities-could-be-dystopian-m-1238731420

Reply
Master Shufu July 13, 2015 at 10:04 pm

Shut up fat Americans! Shuuuutttt up! You eat too many Combination #5’s.

A wittle secret: The slop you call “Chinese” food here isn’t what we eat, or we’d be fat like you!

I bwing jobs! You know nothing blue eyed devils. I own your politicians!

We don’t want your shitty cars anyway. You buy Volvo!

American bails out GM, SC bails out Volvo. It’s the fat American way!

Reply
shifty henry July 13, 2015 at 11:42 pm

clever..! wish I could have thought that one up…

Reply
Squishy123 July 14, 2015 at 12:16 pm

Asians will gut a fish, throw away the fish and eat the guts. I’d be skinny too.

Reply
Master Shufu July 14, 2015 at 1:43 pm

Fish head da best stupid wownd eye.

Reply
Scooter July 13, 2015 at 11:07 pm

Screw GM. I have bought my last piece of crap from them.

Reply
sparklecity July 13, 2015 at 11:17 pm

if you’ve got a Corvette with less than 5,000 miles on it I’ll gladly take that “piece of crap” off your hands for pennies on the dollar since it is such a shitty car……………..

Reply
GM Sucks July 14, 2015 at 8:33 am

If you’re lucky, you might get another 5,000 on it before the ignition switch fucks up and you hit opposing traffic at 70 MPH.

Reply
Bible Thumper July 14, 2015 at 2:05 am

What will Detroit do?

Probably nothing.  After all they can just pass the bill onto you in the event their Chinese sales projections continue to implode.

For a businessman Will doesn’t seem to know much about economics. An over supply of cars means lower prices inorder to reduce the glut.
I wonder if Ron Paul doesn’t send Will a check he can just bill Trump double. Is that how business works? Haven’t heard from Howard Rich lately, I guess I’ll have to stick it to the Koch brothers.

Reply
Bible Thumper July 14, 2015 at 3:31 am

I wrote a few days ago, concerned about the Chinese stock market. If you remember, I wasn’t concerned so much with its value as much with the Chinese government’s interference in the market.
1. In a healthy market, stocks are vulued based on the company’s underlying value and future prospects. It’s not gambling because one stockholder’s gain doesn’t depend one someone else losing.
2. When there’s a bubble and investor ethusiasm does not reflect fundamentals, the market is like gambling or a pyramid sceme. If you get out in time you win, but those who buy the stocks they sell lose big when the bubble burst. Who wins and loses depends on when the bubble burst.
3. What China is doing is worse than the crash when the bubble burst. Instead the market desending into risky gambling, it has become a fixed gamble where certain players are guaranteed to win and others are guaranteed to lose. The market is swinging wildly and stockholders know that if the market fall to much that the government will rescue it. So stockholders can buy into a dip knowing the government will purchase or force brokerages and banks to buy. Then when the market rises the other stockholder’s sell starting another crashed providing another guaranteed buying opportunity because they know the government will not let it chase below a certain point.

This manipulation completely corrupts the market and can bankrupt financial institutions involved in the rescue.

It may not be too late for China to get out of the way and let the market crash by 50% or more. Finally, the issue of political stability is too hard to predict. I think there could be protest but the government successfully cracks down.

Reply
FastEddy23 July 14, 2015 at 10:06 am

That bubble of investor enthusiasm has popped … The richer Chinese will be buying Silver, Gold and other commodities. They have seen Chi-Comm Central Planning fiascos before.

The EuroTrash markets are next, then our own markets.

Reply
Bible Thumper July 14, 2015 at 10:19 am

The richer Chinese will be buying Silver, Gold and other commodities.

Yes, but they will also will be buying dollars and US Treasuries.

Reply
FastEddy23 July 23, 2015 at 12:27 pm

I believe Rom Paul has endorsed a US currency pegged to Gold, Silver and Commodities … As Alan Greenspan did throughout His tenure as Head of Fed.

Reply
Just Another Guy July 14, 2015 at 8:35 am

Will, you have gotten real good at Control C Control V. This time from zerohedge. Of course this was last week’s news.

Reply
FastEddy23 July 14, 2015 at 10:01 am

More Control S, Control Q needed.

Reply

Leave a Comment