Fuel Costs Claims Its' Next Victim

With the rising cost of Oil, which has doubled since 2005, the instability of the oil crises has just claimed its' newest victim, the Ford Auto Industry. Yep, that's right, the good old Ford Motor Company has just declared that has stopped any further production of its' trucks and SUVs for the rest of the year. Ford will be releasing more of the details of how they will be cutting their costs and cutting back sometime in July. Sounds like big Ford lay-offs are on the horizon. Of course, the only cutting back in production that Ford plans on doing is in the North American production plant in Dearborn. So I was surprise to find out that the Ford Motor Company did do extremely well during the first-quarter of sales making $100 million profit.

Also in the Auto Industry, General Motors Corporation had cut its' second-quarter production in North America by 5%, Chrysler LLC during the first 4 months of this year has already cut North American production by 16%. Add to that the Toyota and Nissan Auto Manufacturers cutting their North American productions to meet lower demand.

My, my what a vicious pattern is encircling our economy. With major auto manufacturing companies on the down-swing and big auto industry lay-offs on the horizon, it's only a matter of time when unemployment and foreclosures will be on the up-swing even more. Isn't the Republican Economics of the past 7 1/2 years just grand?