Your position, such as it is, would be better served if you could point to verifiable facts with links.

P.S. The fact of the auto industry declining every month by 30-40+% does not, in spite of what you may think, bolster your argument that they will somehow yet survive.

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Auto industry woes extend beyond U.S.

There is widespread agreement the industry is undergoing a deep, long-term downturn. Both successful and struggling automakers will continue to run up losses for some time. And that could lead to company failures, the disappearance of storied brands and forced mergers in the next few years.

"Everybody is worried sick," said David Cole, chairman of the Center for Automotive Research. "There's only one solution to this industry's problem, and that's an upturn in the market. The trick is living long enough until it does come back." (MORE)

http://tinyurl.com/cosloq

So, as admitted, their very survival, even in diminished form, totally hinges on a turnaround in the global economy. That is not going to happen, for the numerous reasons previously given.

Indeed, neither you -- nor anyone -- who blindly believes in "recovery" can state by what mechanism(s) this is to occur.

That's because there aren't any.

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Engines of Recovery Flame Out as Economy Seeks Obama-Fed Rescue

The engines that have lifted the U.S. economy out of every recession since World War II will be of little help this time around.

Inventory rebuilding, household spending, home construction and payroll growth -- the forces that powered, to a greater or lesser extent, each recovery since 1945 -- may remain missing for much of 2009. A glut of unsold properties may keep housing depressed, while shriveled savings will discourage consumers. Companies may be reluctant to restock and rehire while their profits are squeezed.

“There are no obvious drivers of growth from the private sector,” says Jan Hatzius, chief U.S. economist at Goldman Sachs Group Inc. in New York.

http://www.bloomberg.com/apps/news?pid=20601068&sid=anuuEj0tNs1Q&refer=home

re: as recently as July 2008 went on television to proclaim that the housing sector was "fundamentally sound"

He was undoubtedly listening to Bernanke:

-

April 2, 2008

Bernanke noted that the government's $168 billion stimulus package plus Fed efforts to slash interest rates in response to worsening credit conditions should put the economy back into growth mode in the second half of the year [that is, 2008].

http://www.usnews.com/articles/business/economy/2008/04/02/bernanke-signals-recession.html

And Bush:

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July 15, 2008

Bush: Troubled financial system is basically sound

http://www.huffingtonpost.com/2008/07/15/bush-calls-on-congress-to_n_112829.html

To the extent that he believed these idiots, yes, he is responsible.

P.S. Unless you provide links to your sources when quoting someone so that we can verify your claims and read the alleged statements in context, we'll be forced to conclude that you're just making stuff up.

re: Really, 'no one will buy a new car again'?

Reread my statement. You left out the word "almost".

re: Your own links say auto sales plunged 34%

That's been the case for months now and will continue going forward. One by one the auto companies will shrink, then die. In case you missed it, Chrysler is kaput and GM is close behind.

re: there are plenty of others who aren't panicking anymore, like Roubini

As I've said before, Roubini is an optimist. But even he tempers his forecast:

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Green shoots or yellow weeds? A trifecta of risks to the early bottoming out of the recession and short-term economic recovery and to the medium-term actual and potential growth prospects of the global economy

Nouriel Roubini | May 19, 2009

http://tinyurl.com/qyftr6

re: A year from now as things are improving

We're right back where we started. Other than blind belief, you have no basis to think anything is improving. All of the data is negative. "Less bad than predicted" does not mean positive. There is no magical mechanism that will suddenly turn this around. Indeed, it continues to feed on itself. Millions upon millions of jobs are gone forever, more and more people are slipping into insolvency, etc.

Again, believe what you wish. I'll stick to the data and facts.

re: I personally know tons of folks buying new cars

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US auto sales fall 34% in April

http://tinyurl.com/qlsmpe

Toyota Cuts Production 28% to 7-Year Low as Auto Sales Plunge

http://tinyurl.com/r9aecx

Believe what you wish. I'll believe the data -- and I don't see any that is remotely positive.

re: Where is your proof that Salon has by and large blamed the financial crisis on G.W. Bush and Republicans in general?

I dunno about Salon, but I blame Bush and Republicans in general:

http://tinyurl.com/qp8bmc

Plenty more where that came from.

re: Once that one goes...

http://tinyurl.com/oxfu9q

and

http://tinyurl.com/ozfojs

SEE ALSO:

"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention

http://tinyurl.com/oxfu9q

SEE:

http://tinyurl.com/ozpngu

http://tinyurl.com/puq23z

http://tinyurl.com/oow66c

and

http://dailyreckoning.com/looking-back-on-the-greatest-depression/