For every quarter, the minions at the Bureau of Economic Analysis, release data that supports an accounting known as the National Income and Product Accounts (NIPA). NIPA data contains much data including the all-important GDP data.
Part of NIPA is Table 7.2.5.B., the Motor Vehicle Output table, which contains data about the state of automobile manufacturing and selling in the USA. Those with authority must believe that motor vehicle manufacturing and selling are such weighty matters when it comes to the economy that specific statistics must be gathered and collated regarding these activities.
From no one else on the Internet and likely worldwide can you get what I give you in these charts — the current dollar data fixed in True Dollars™. In chart after chart I have presented elsewhere in my work, once you see dollar data in True Dollars, you see how the charts exactly correlate with reality, with what Americans experience daily in their commercial living.
Academician economists rely upon an error-filled method of deflating current inflated prices using a base of past inflated prices. Anyone with good sense can see right away that method is wrong. Using previously inflated prices as the means to deflate current inflated prices fails to deflate anything.
While I have access to 45 charts generated from the NIPA Motor Vehicle Output data, I shall share with you a few of the key ones. Using my charts you can tell exactly where the economy has been and where it is going.
First up is the master chart, the Motor Vehicle Total Output chart.
Even before the September 11, 2001, calamity that brought down the Twin Towers, the economy was in decline. The foregoing chart shows that and corresponds with the GDP chart.
The sum of automobile output is down -10% from Q1 1959!
Americans haven't seen lows in final sales of motor vehicles since 1970.
Private fixed investment in new trucks is down -43.5% from the all-time peak hit Q3 1999. That said, it's up 77% from the Q4 2008 bottom.
After the dead cat bounce to Q3 2010, final sales of motor vehicles to those residing in the USA continues to fall, having fallen -12.8% since.
The sum of domestic output of new cars is -25.1% below the Q1 1959 sum!
And here come the charts that shock the mind.
Personal spending on autos is down -71% from the Q3 1998 all-time peak. Americans spend as much on cars today as Americans did in 1959!
Personal spending on trucks is down -55.8 from the Q3 2001 peak.
And here is a huge eye-opener. On a per capita basis, Americans, 16 and older, spend -15.6% less on cars than Americans did in the beginning of 1959.
Elsewhere I have written how Quantitative Easing has wrecked the return to extant capital and was causal for a crazed amount of true unemployment. As well, as long as legislators of Congress pursue a policy of working-age immigration double-digit growth rates, enterprises will be hard pressed to gain increasing returns to capital. Merely, they will employ more workers at ever lower wages.