Word: droppingly
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...Most economists blame the collapse of the credit markets which began the recession on a drop in US housing prices and devaluing of subprime mortgage-backed securities. The Wall St. experts who created these financial instruments failed to predict how quickly low-quality mortgages would default to some extent because the national value of housing had gone up for decades. But, as defaults did rise, the value of these derivatives cascaded and the banks and other institutions which held them were required to take massive losses. At Davos, Russian and Chinese leaders attacked the U.S. for the "failure" of regulators...
...supposed to have. Tranches began to change in value, one by one. A small snow ball turned into an avalanche. On the day of this first unexpected default, the value of the other homes in its neighborhood ticked down a fraction. With each default that occurred, this drop accelerated...
That number will be a shocking drop. In 2006, 16.56 million vehicles were sold in the US. That number dropped to 16.15 million in 2007 and 13.2 million last year...
According to The Detroit Free Press, some analysts expect another 21% decline in 2009. This drop could be even more significant in a deep or prolonged recession. If the market share of The Big Three continues to decline, the numbers will be even worse for the U.S. car companies. (See pictures of the global financial crisis...
...this point it would be almost impossible to argue that U.S. car companies will not need $100 billion. One million domestic car sales are worth about $25 billion in revenue. A drop of three million vehicles sold from 2008 to 2009 would pull nearly $75 billion out of the market...