America's largest Chevy dealer will shut its doors at close of business tonight, unable to obtain financing to restore its inventory.
This is exactly what I warned would begin happening. Those of you who followed my radio show as early as November 2006 will recall me telling you that if credit dries up, employers will not be able to finance payrolls, businesses will not be able to re-stock, manufacturers will not be able to get raw materials. It has now begun.
This is going to spread like wildfire. As business after business finds itself unable to get financing to re-stock, more and more of them will shut down. Displaced employees will no longer get paychecks, thus worsening the defaults in credit and mortgages.
This is going to be terrible for the USA, folks. I hope all of you heeded my warnings, stocked up on food, guns and ammunition. You're gonna need them.
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