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Friday, October 17, 2014

Let's check in on the Götterdämmerung in auto manufacturers


OMGweallgonnaetc:


So...

So you're telling me that the outlook for auto sales is worse than it was in May 2013?

Because I remember nobody was hopeful at all about anything in May 2013. China was crashing, the Eurozone was going to break up, India's economy was a fucking joke....

Kinda... um... like today, actually.

And it's like 25% worse than it was just a couple months ago?

And the outlook is only 15% better than it was in February 2012?

Really?



And apparently, Magna was only worth $83 two days ago, yet today it's magically worth $91. Because some Fed guy said something.

I guess Fischer said that the Fed's QE4 would involve buying a few million cars, and they'd make sure all the axles were manufactured at Magna because the Fed loves Canada so much. Or something.

So I guess Magna should now magically pop back to $115 and all the crap people were worrying about was just silliness.


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