Surprise, surprise that this happened.
Even if times are good, like anybody would have purchased a Honda for $150K+ range. I harped on this in the (other) NSX thread so many times.
I have to applaud Honda for taking quick action to cut costs in the current financial climate. By realizing nobody will buy this thing and for pulling out of F1.
I'm skeptical of it lasting that long, I'm thinking 2 years maybe 3 though.
The world is more "global" then it was back in '29 but I am no economist that is for sure -- just have a tingly feeling
Regarding the financial crisis, this meltdown will actually be bigger than the great depression. At least back then people had savings and the U.S. actually produced things as apposed to being a 70% consumer based economy like it is now.
James, precisely because the economy is global this will impact us all. Remember all those sub-prime mortgage-backed-securities (MBS) were sold on the stock market to the world.
Who really knows how long it’ll last, but don’t believe the liberal media when they tell you things will start to pick-up in 6 months to a year.
And don’t forget Canada lags about 12 to 18 months behind the U.S. Sure we won’t get hammered as much as they did, but we will feel it. Especially with oil hovering around $43/barrel and the inventible job losses at the big three (even with a bailout).