Mrcauser’s Weblog

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A cup of coffee at McDonalds is a better buy…

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At least Obamama saved the abortion mills today by executive order.

But as for the auto industry?

Good luck!

What’s more the housing bust has reached New York. Get ready for “radical action”.

Heh heh.

For those of us with jobs and credit the world will be ours. Until the geezer Tsunami of retirement hits.

Boom!!!!

A Crash Course in the World Credit Markets

03/06/09 “Substantial doubt,” say auditors at Deloitte & Touche. They’ve been studying GMs figures. The numbers make them wonder whether the automaker can continue as a “going concern.”

Here at The Daily Reckoning, we’ve got substantial doubt about a number of things.

As to GM, we share the auditors’ concern. The world is full of car factories. Most of them can make cars better, faster, and cheaper than GM. Meanwhile, demand for autos is not growing as quickly as the global growth in auto-making capacity – especially in America. Not that we’re trying to pass judgment. Let the Mr. Market do that!

But GM has friends in high places…ready to lean on the scales of Mr. Market’s justice. The automaker has already borrowed $13.4 billion.

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Written by mrcauser

March 9, 2009 at 7:28 pm

Posted in Uncategorized

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