Are We In A New Beginning?
Today both GM and Ford announced that their sales for last month increased over last year’s sales same month. Even though Chrysler, who has a track record of not being in the front of the “big 3 pack”, reported a 30% drop, hopefully this is another sign of recovery in the US economy.
Last week it was rumored that Ford would bring a new version of the Escape to Louisville, KY in 2011, and shortly after that begin to make the Kuga, which is a small crossover SUV. Ford won’t confirm any of this, but if it happens, Ford would be exporting many of these vehicles, instead of importing them from Germany. They say that the fall of the US dollar against the Euro has made it financially possible to move production to the USA. Do I hear anyone saying “about time”?
If you look back at the US economy over the past couple recessions, the auto industry, the steel and heavy manufacturing, and home building have been the industries to bolster or at least be the foundation that supported growth.
No one wants to see our jobs go abroad; I’m all for bringing them back to the USA. That’s not a flippant statement on my part. My job went overseas, and I found myself on the unemployment line because of it. There are cycles in everything, and I truly hope the turnaround has begun.
Private industry is going to have to be at the root of the upswing. Our government hasn’t done much to help except fund the financial industry.
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