Our economy is now consumption driven. Works well as long as we are borrowing money and spending it on junk, homes, cars ect.
When times are unsure, people like me. tend to not buy stuff. Auto industry is a great example. Cars are better made so no real reason to buy a new one. We just paid off our mini van. 1st time in 20 years we have not had a car payment for the wifes car. Not going to buy another for atleast 3 years. Dont care what rates they give. Dont care what fuel economy it gets.
What did you do with that Tax rebate check Bush sent out? Spend it on consumption? we paid off a credit card.
Not going to buy anything we dont need until we own our time. Instead of a mortgage company or a bank. Well I did buy that 966 :-)
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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