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Today’s job report puts unemployment at a sobering 8.1%, not by year end but today. This staggering number isn’t encouraging for anyone, and even though such truths have to be faced, I feel like the announcement will only further hurt consumer confidence, which will in turn hurt sales, which of course will force more job losses.
At some point we have to reach a psychological point where people say “I simply can’t expend any more energy on worrying about my job, and I can’t wait any longer to replace my vehicle.” I can only hope we’re closing in on that.