Just a quick note today. Before the election our Federal Government committed BILLIONS of our dollars to bail out failing companies and organizations. Right now the question seems to be, how much more and is this a good risk?
My son is currently in Iceland and when he returns at the end of the month, we’ll have a discussion on his experiences, including their view towards American policy and politics. Iceland, as a country, supposedly went bankrupt in a market collapse, this fall.
But what prompted this posting was a story I found on-line at WSJ.com. It starts with, “Can you imagine life without General Motors Corp.? That’s now an urgent question facing America’s political leaders.
GM survived for 100 years, steering through two world wars, the Great Depression, and all the booms and busts in between. But on Friday, GM said it faces a substantial risk of financial collapse by the middle of next year unless the economy makes a significant improvement, the capital market freeze thaws, or the government provides the money to sustain the company through the downturn.”
I urge you to click here and read the entire story of America’s Two Auto Industries.