Massive number of unsold imported cars at the port of Newark, New Jersey
Basic Marxism suggests that capitalism goes into crisis when workers cannot buy back all of the goods they produce. Huge lots filling up with hundreds of thousands of unsalable new vehicles illustrates this with a vengeance. The fruits of a few decades of restricting the ability of workers to realize the full wages for the products they produce now are coming home to roost.
The inability of the economy to move the goods it produces also suggests that the Republican "stimulus" approach of providing "as much as $3,200 per family each year by reducing the lowest income tax rates" is silly. Cutting taxes on income people do not have will not help them much. We need a truly massive employment program that creates living-wage positions for every able-bodied worker. That's the only way this crisis will abate.
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