It's Money money money by the pound!

[CCS]

Source: Federal Reserve

http://research.stlouisfed.org/fred2/da ... 30_378.png

Wow, never in any 5 year period in US history has the money supply increased so fast. It doubled in just 3 months. From the graph, doubling typically takes 10 years. I wonder how long it will take for prices to double. I heard 9-24 months to work its way through the economy. I wish I could renew my lease for another year on top of the current renewal.

 

[CCS]

And what is this guy's problem? You guys think he is full of BS?

Auto dealer wrote to a local paper, then got put on the web:
http://www.americanthinker.com/blog/200 ... ealer.html

May 19, 2009
Letter from a Dodge dealer
letter to the editor
My name is George C. Joseph. I am the sole owner of Sunshine Dodge-Isuzu, a family owned and operated business in Melbourne, Florida. My family bought and paid for this automobile franchise 35 years ago in 1974. I am the second generation to manage this business.


We currently employ 50+ people and before the economic slowdown we employed over 70 local people. We are active in the community and the local chamber of commerce. We deal with several dozen local vendors on a day to day basis and many more during a month. All depend on our business for part of their livelihood. We are financially strong with great respect in the market place and community. We have strong local presence and stability.


I work every day the store is open, nine to ten hours a day. I know most of our customers and all our employees. Sunshine Dodge is my life.


On Thursday, May 14, 2009 I was notified that my Dodge franchise, that we purchased, will be taken away from my family on June 9, 2009 without compensation and given to another dealer at no cost to them. My new vehicle inventory consists of 125 vehicles with a financed balance of 3 million dollars. This inventory becomes impossible to sell with no factory incentives beyond June 9, 2009. Without the Dodge franchise we can no longer sell a new Dodge as "new," nor will we be able to do any warranty service work. Additionally, my Dodge parts inventory, (approximately $300,000.) is virtually worthless without the ability to perform warranty service. There is no offer from Chrysler to buy back the vehicles or parts inventory.


Our facility was recently totally renovated at Chrysler's insistence, incurring a multi-million dollar debt in the form of a mortgage at Sun Trust Bank.


HOW IN THE UNITED STATES OF AMERICA CAN THIS HAPPEN?


THIS IS A PRIVATE BUSINESS NOT A GOVERNMENT ENTITY


This is beyond imagination! My business is being stolen from me through NO FAULT OF OUR OWN. We did NOTHING wrong.


This atrocity will most likely force my family into bankruptcy. This will also cause our 50+ employees to be unemployed. How will they provide for their families? This is a total economic disaster.


HOW CAN THIS HAPPEN IN A FREE MARKET ECONOMY IN THE UNITED STATES OF AMERICA?


I beseech your help, and look forward to your reply. Thank you.


Sincerely,



George C. Joseph
President & Owner
Sunshine Dodge-Isuzu

I know some dealerships are just getting their contracts cancelled, or some might be owned by GM and included in bankruptcy, but not this guy or many others like him.

 

[cuebald]

I don't really understand what's going on in that dealer's case.
Did the Government take his garage off him?

If Dodge did it, well, that's also the free market at work, quit bitching. The "Free Market" works both ways, you know.

 

[ali777]

HOW CAN THIS HAPPEN IN A FREE MARKET ECONOMY IN THE UNITED STATES OF AMERICA?

Hmmm... That guy doesn't understand the definition of free market economy, I wouldn't buy a car from someone who doesn't even know his basics. He deserves to lose his dealership.