It seems that the tight credit is already starting to move into auto sales.
Americans bought 964,873 vehicles in September, the lowest sales figure since February 1993, according to Autodata Corp. and the Edmunds.com automotive Web site. Sales fell 27 percent compared with September 2007, with every major brand but General Motors Corp. reporting drops of at least 24 percent.
Just wait until the credit market is frozen for a month or more. You will see GM and Ford go into Chapter 11 or be forced to be bought out by Toyota or someone. I can see it happening in a couple of weeks if there is no deal passed. Maybe that will finally wake up Main Street and make them realize that there is a crisis.
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