How a team of mental midgets destroyed the housing and auto sales industry

Fed Chairman Jerome Powell and his team of mental midgets raised interest rates too high too fast and killed both the housing and auto sales markets.

Despite inflation being too low, Fed Chairman Jerome Powell and his team of mental midgets raised interest rates too high too fast and killed both the housing and auto sales markets.

In spite of deals offered in the spirit of Black Friday, several heavy automotive hitters reported sales declines in the U.S. for the month of November.

Namely Ford, Toyota, and Honda all recorded sales drops due to ballooning sales prices and interest rates as well as dwindling demand for sedans, reports Reuters.

Ford sales, specifically, fell seven percent but the company remained optimistic when confronted with shareholders.

"Relative to the macroeconomic outlook, Ford was upbeat on its monthly sales call, suggesting relative consumer resiliency in the face of rising interest rates," J.P. Morgan analyst Ryan Brinkman told Reuters. Ford reportedly pinned the less-than-stellar sales on the Focus and Mustang.