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[GM] oh my god no |
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Uptown . Nov 15 2008 03:50. Posts 3557 | | |
Bush has announced that he will not support any government aid to the fumbling motor company. GM needs "only" 25billion dollars, as compared to the 750billion+ that's going into the financial sector.
What does this mean? Well, GM has made it public that it only has cash to sustain itself through december, making the doomsday scenario of a GM collapse more likely than ever before. That means 3-3.5 million jobs affected: not just GM itself, but all the smaller companies that make the parts used by GM plants. As GM goes down, so do those suppliers, as GM is obviously a major major customer. As those smaller companies are affected, the other motor giants like Ford will also start to keel over. Consumer confidence digs a deeper hole than what we have now, and the market will respond appropriately.
Possible Market collapse of epic proportions here we come!!
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Highcard Canada. Nov 15 2008 05:11. Posts 5428 | | |
If all inefficiencies were always left to be corrected by themselves we would be better off. I fucking hate the bailout stock market bullshit and I would hate even more if they just handed out money to every single 'once was a billion dollar company'. Can't make a profitable company, go fuck yourself and collapse. |
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