From AP: Car sales were down 21 percent at GM and 9 percent at Toyota. Truck sales were down 16 percent at GM and nearly 39 percent at Toyota.— Looking at the sleek beauty above, it’s really hard to imagine why GM would go in the tank in such an historical way—at one point enduring a 25% intraday trading swing yesterday. Only the record business was slower to respond to the radical and obvious changes in their business model and, as we all know, everyone in the record business is completely retarded. Though you have to applaud the strategy currently being employed by the Blue Chippers in rapid decline—warn for a breath-takingly low number and then beat it slightly, causing rejoice across the market and actual pole-dancing by the CNBC Hotties. What continues to amaze though is the commitment to pretending to be surprised by the numbers, despite the very predictable results that are part and parcel of wide-spread asset deflation, demand destruction and worldwide, unprecedented de-leveraging. Or better expressed by the simple formula: no money for lending = no money for buying big shiny gas-guzzling dick replacers with toxic HELOCs yanked from the faux equity in your brand new McMansion in the exurbs to commute to your flat-wage-growth job at $5 per gallon.

From AP: Car sales were down 21 percent at GM and 9 percent at Toyota. Truck sales were down 16 percent at GM and nearly 39 percent at Toyota.—

Looking at the sleek beauty above, it’s really hard to imagine why GM would go in the tank in such an historical way—at one point enduring a 25% intraday trading swing yesterday. Only the record business was slower to respond to the radical and obvious changes in their business model and, as we all know, everyone in the record business is completely retarded. Though you have to applaud the strategy currently being employed by the Blue Chippers in rapid decline—warn for a breath-takingly low number and then beat it slightly, causing rejoice across the market and actual pole-dancing by the CNBC Hotties. What continues to amaze though is the commitment to pretending to be surprised by the numbers, despite the very predictable results that are part and parcel of wide-spread asset deflation, demand destruction and worldwide, unprecedented de-leveraging. Or better expressed by the simple formula: no money for lending = no money for buying big shiny gas-guzzling dick replacers with toxic HELOCs yanked from the faux equity in your brand new McMansion in the exurbs to commute to your flat-wage-growth job at $5 per gallon.

Jul 2 2008

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