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Originally Posted by American Dave
Correction, there was a massive increase in wealth but I would suggest that bubble has well and truly burst now.
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Yep I agree, it just might take a while for people to realise. Heard mention of the follow info a few times in West Perth yesterday:
Oct. 30 (Bloomberg) -- In the third quarter of 2007, Volvo AB booked 41,970 European orders for new trucks. Guess how many prospective purchases Volvo, the world's second-biggest maker of heavy rigs, received in the third quarter of this year?
Here's a clue. Picture a highway gridlocked by 41,815 abandoned trucks -- because Volvo's order book got destroyed to the tune of 99.63 percent, with customers signing up for just 155 vehicles in the three-month period, the Gothenburg, Sweden-based company said last week.