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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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From: Chispas8/26/2008 11:42:12 AM
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The Timetable For Busted Banks -

Jim Sinclair, August 25, 2008

Dear Friends,

We all know now what the timetable is for revealing busted banks. It is on Fridays after 5pm.

For massive bailouts with our money the timetable is over weekends.

Last weekend GM got a $50 billion US Treasury loan for the development of electric cars and low gas consumption new era vehicles. No one really buys that as we know it is to fend off bankruptcy by GM and an attendant collapse of the credit default derivatives issued thereupon.

If GM wanted a viable electric car they need only call the Tesla Company. They have made a real car, not an overblown golf cart. This car does 0 to 60 in 5 seconds with an equally respectable 1/4 mile both in speed and elapsed time. It tops out at 125 MPH. The car is pricey as it is developed on a Lotus chassis. If produced in good numbers and put on the low level cheap GM or Ford chassis they would have what they supposedly borrowed $50 billion from the US Treasury to invent and produce.

All GM needs in order to find a way to produce a real electric car is a used laptop with an internet connection. That might cost $600.

Regards,
Jim

...........................................................

jsmineset.com
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