Apparently, there's a lot of that going around these days:
DETROIT (Reuters) - U.S. auto sales plunged near 25-year lows in October, led by a 45 percent drop at General Motors Corp, with no sign the industry's year-long slump had hit bottom and doubts persisting that all the major automakers can survive.
Hurt by tighter credit and deepening uncertainty about the strength of the economy, U.S. sales fell to their weakest monthly level since 1983, based on early sales results.
European auto sales also tumbled for October, with sales declines of 40 percent in Spain and 19 percent in Italy.
Adjusting the figures for the population of the United States, GM said October was the industry's weakest month since the end of World War Two.
Sales for Toyota Motor Co was off 29 percent, Honda Motor Co fell 25 percent and Nissan Motor Co tumbled 33 percent.
Auto sales plunge to near 25-year lows
Things like this are more than just a troubling sign. The auto industry is one of our prime manufacturing industries. Like the banking industry, it's a bedrock of our economy. Some observers of the economy talk as though there's a recession on the horizon. I have news for them. It's already here.
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