Thursday, October 9, 2008

GM and Ford Near Bankruptcy

Please look at these charts.  GM is now trading at the same price it traded at in 1950.  America's great auto makers will go out of business within the next few months, will be bailed out by the Fed or will be bought out by foreign competitors.  There are over 1 Trillion dollars of credit default derivative bets on GM.  Friends, this crisis is just barely begun.

1 comment:

Anonymous said...

coming apart at the seams of our
the backbone of america is fading away
too bad
mexico here i come