Trickle down economics

Published: September 12, 2007, 3:25 am

Oh, so you mean when the real estate market that has carried the US economy in recent years tanks, it just might have a negative impact on spending in other industries? Shocking, really. From GM's CEO while explaining the soft numbers last quarter:In an interview at the annual Frankfurt International Motor Show, Chief Executive Officer Rick Wagoner said the company was watching the situation carefully because the property market's woes were spilling over into auto showrooms."It's created an environment where people are a little tense and when they get a little tense they hold onto their dollars and hold their cars a little longer," Wagoner said. "So we saw reasonably weaker sales the last several months."It's a good thing we have a quality team on the job who are focused on the economy. Now if only that little problem can wait until this war thing is sorted out.

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