"Fire burn and cauldron bubble." Wouldn't that be a more accurate way of predicting Detroit's future? -BV
Automakers are suffering because sales were artificially boosted by cheap credit and the Big Three thought this could last forever.
November 30, 2008: 6:59 PM ET
"Automakers are counting on a rebound in demand by 2010. But that could turn out to be unrealistic because of an "auto bubble" the Big Three helped to create during the past few years.
"Cheap financing, easy credit conditions and attractive pricing on cars due to overcapacity in the U.S. auto market caused record sales earlier this decade."
Read the entire article at CNNMoney
http://money.cnn.com/2008/11/30/news/companies/auto_bubble/
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