According to a Reuters poll of 30 economists, data to be released next week will show that the recession in Europe has ended, but that the euro zone will not start growing significantly until 2015. The consensus prediction for the second quarter of 2013 was 0.2% growth.
I live in a nice quaint small town called Powder Springs, Georgia.
The sidewalks are paved downtown and even partially bricked for artistic value. Thanks to a generous donation by the taxpayers. The streetlamps are ornate and well lit thanks to the same contributors.
The old closed down ACE hardware store is now the new police station. The old city hall has been replaced by the new city hall. Even the vehicles that get too old to keep get replaced with shiny new ones thanks to American taxpayers far and wide.
How many miles do you think would it take to replace a car owned by the local city government?
The good old days of late summer 2009.
It was a great time to buy a new car. Monthly new car sales in North America had plummeted to under 10 million units. Access to financing seemed to be near impossible for a lot of consumers. Brands were orphaned. Leasing collapsed. Banks were picky. The future was uncertain and… raw materials were cheap.
It was a good time to buy new at a deep, deep discount. Has that time passed?