Want To Start A Pool?
Well, it looks like General Motors is headed for the dirt nap. Would anyone like to start a pool on when it will happen? How about a pool for who's next? Citi?
All kidding aside my friends, I believe that we're witnessing the death rattle of the free market economy. It's been on life support for some time, but I fear that this is the end. It's been murdered by government officals who were charged with the responsibility of protecting it, but who chose self-aggrandizement over the interests of those that they were elected to represent.
RIP America, my old friend.
All right, I'm more optimistic. We have some great car makers in America, they just don't happen to be in Detroit. Detroit will go bankrupt (yes, more traditional bankruptcy). The way I see it, PelObama has used up much of its political capital on its social agenda.
The America people will respond with a vengeance. For example, there was a local public radio show (here in the liberal NW) debate about coal vs. carbon credit. Coal "won", after folks figured out how much PelObama's plan would cost them in higher energy bills.
These PelObaReid supporters wouldn't dream of buying a car made in Detroit. This is where the line will be drawn. I could see China snatching up some Detroit brands, including GM in China. Who knows.
Take heart, Philo. Mr. Market will return with a vengeance.