Recession!

[Guest AL]

This article appeared in today's Sydney Morning Herald. A quarter!!! Gosh!

PICKLES Auctions last night had its biggest sale of repossessed luxury cars in years, and a quarter of the vehicles that went under the hammer were Mercedes. And 80 per cent of the late model German cars had been repossessed. The repo men also offered a large haul of BMWs, Audis, Porsches and a Ferrari for finance companies to recoup some of their losses.

The auctioneers reckon the novated lease on one, a 2008 Mercedes-Benz C63 AMG (RRP $160,000) with only 2979 kilometres on the clock, must have been signed only the day after Lehman Brothers filed for bankruptcy last September

http://www.smh.com.au/articles/2008/11/24/1227491522081.html

On the bright side, perhaps these Mercedes, Porsches etc were their 2nd or 3rd car which they have to let go.

[Guest Otsego]

lets :pray: together

everyparents is having a hard time supporting their family now :pray:

[Guest W140]

This recession is going to culminate into something really huge.

[Guest Raskie]

i think the worse is yet to come .. 2009 will be a very testing year for the world ... the negative gloom will be prolonged if China's growth dipped drastically ...

:banghead: