Dealerships in dire straights

It is as if things could not get worse, now GM & Chrysler will cut 3,000 automobile dealerships. This means even more jobs will be lost, since not only do you lose the used car salesman, but also auto mechanics, floor people, back office help, receptionists, etc.

Do not be surprised when unemployment goes over 10% this year as I predicted. You are only seeing the tip of a very large iceberg. The problems in this economy go much deeper than banks or real estate.