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"As GM Goes, So Goes the Nation"


Raspbernie

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It kills me that GM especially and Ford to a lesser degree are hurting so badly when Japanese plants are operating very well in the US.

I fear following that statement up because I'll probably tick off members of the UAW Union....especially in delegate rich Michigan.

You know...I haven't owned an American car in over twenty years since cracking my engine block on that crazy bridge on the Garden State Parkway just North of Sayreville, NJ.. crying

I do like the Cadillacs however...and ALL of Saturn's products.

Oh well!

John

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Be afraid, be very afraid.....

There is nothing the Fed or our leaders can do that will stop this bleeding....only due course of time will.

We had years and years of a Tech Boom followed by years and years of a Real Estate Boom.

Everyone was rich on Paper so they spent it and now that the underlying investment is not worth a fraction of what we thought it would be....who should be surprised that we have what we havenow?.

It was a big Ponzi scheme and the guys at the top always get rich and the guys on the bottom go to the poorhouse.

TB + REB = 0

Tech Boom plus Real Estate Boom equaled Diaster

There is no fix or magic pill, anything that is done short term to make things better, will be smoke and mirrors.

We lived the good life for much too long and got very spoiled. Spending the profits on our portfolio's and the increased equity from our homes as quickly as we could get our greedy little hands on it.

I hope I'm wrong about this whole thing but my gut tells me to be prepared for the worse...and you might want to be too.

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None of this is surprising to anyone who has watched this bubble economy float along for as long as it has... What has happened to a lot of us is that we got suckered in... so many making so much, the little guy had to try it too, which is how all "Ponzi Schemes" work... they show you all the money they're making and tell you "You can make money too." then they take your money to pay off their losses... reap a profit... and suddenly you find your "nest egg" is in a nest without a bottom... frown

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