Americans are buying more foreign cars
April 10th, 2008
At least that’s the implication in the latest trade deficit numbers according to an article on Yahoo Finance today. It’s certainly another topic for debate as to why they are buying foreign cars over American made cars. But it’s strange that in this supposed “recession” our car imports are increasing?
A couple of other key points from this article: Exports set a record and oil imports are down. Both seem like good news to me. The article also mentions jobless claims data, which was also down, even though the previous number was the highest since 2005. Maybe I’m forgetting something but I don’t seem to remember there being a recession in 2005. If the jobless claims are seeing level last seen in 2005 is this really cause for alarm?
