Auto Sales: Example of How U.S. Growth Is a Mirage

Growth in the U.S. economy, as it stands, can be explained with one word. That word is “mirage.” The Merriam-Webster dictionary explains the word mirage as “something that is seen and appears to be real but that is not actually there.” (Source: Merriam-Webster online, last accessed April 3, 2014.)

It’s a story that is getting old. On the surface, economic data looks rosy, but when you look closer, you find a picture that is completely distorted. In fact, the fundamentals suggest the U.S. economy is deteriorating.

Take auto sales in the U.S. economy as one example. In the month of March, auto sales reached an annual level of 16.4 million units, up from 15.24

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