KW: Enough now of scary predictions for now but we have at least alerted readers that there are a lot of financial commentators making loud warning sounds rather than the glib mainstream paste overs we hear on our media

Source: oftwominds-Charles Hugh Smith: Here’s Why the Next Recession Will Spiral Into a Depression

And in the meantime Zerohedge reports……

Earlier this month we reported that one month after US carmakers slashed dealer and customer incentives, US auto sales plunged with most OEMs missing even the most pessimistic estimates. Now, the US auto malaise has apread to the world’s largest car market: China.

Looking at the latest Chinese auto sales car market, which has been one of the most reliable engines of global growth for decades, Bloomberg warns that all that “might be coming to an end.”

The reason: dealership purchases of passenger vehicles plunged for a third straight month, the China Association of Automobile Manufacturers said on Friday. And with trade ties with the U.S. worsening by the day and car sales barely up for the year already, the industry is now facing the prospect of its first contraction on record. The September data showed that passenger-car purchases by dealerships declined 12% from a year earlier to 2.06 million units in September, the biggest drop on record.

The report goes on and its all gloomy reading