Michael L

Sirius Investors: Decline in OEM Take Rate Something to Watch

The consumer is not going to have enough money to buy anything but essentials. They certainly are not going to be willing to pay for radio just so that they can hear U2 or Sinatra whenever they like. Bailout or not, the autos industry is in for a world of hurt. Credit is the issue, and we have only seen the beginnings of it. You think housing was bad? Wait until the credit card defaults start en mass. Americans did not know the consequences of imprudent borrowing. La de da. They are about to learn.

Ouch.