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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Roads End who wrote (7516)2/10/2004 9:52:23 AM
From: Jim Willie CB  Read Replies (1) of 110194
 
GM will die when housing falters
at same time, auto sales will go into decline
and GM will default on its debt
their bonds are $170 billion, 5x its mktcap

the puney profit they make on car units will fade quickly
steel, plastic, glass, tires, all are rising
but not the internal electronics
with new model year, a slight bump in AVERAGE UNIT PRICE results in slighly higher prices and margins
then, all year long, they erode

/ jim
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