The CarMax Collapse Exposes What’s Coming for the Entire Credit System
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The CarMax Collapse Exposes What’s Coming for the Entire Credit System
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CarMax sacked their CEO after preannouncing just brutal results for an industry already reeling and at the epicenter of the current ongoing breakdown in credit markets. The stock plunged 25% Thursday when management disclosed unit sales are looking to crash by 8 to 12% in the latest quarter. Relatedly, consumer confidence plunged to record and near-record lows...and it has little to do with the govt shutdown.
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