jim_p, hi,
So to sum it up?
1. Americans will always still have to buy cars.
2. BK is not the end of life as we know it, and that's a good thing.
3. BK is the end of life as the big 3 know it, and that's also a good thing.
4. If BK means the end of any of the big 3, the foreign carmakers will be salivating, even in this market, to get in position for 5 years down the road. For them it's the mother of all fire sales. For the cast of millions, it will mean hard times for a while then new jobs.
5. The markets have come to this point because the pillars of the world economy are reluctant to accept responsibility for transparent risk, across the cultural landscape from consumers, to industry, to services, to governments.
6. Until expectations are reduced to accepting the need for transparency, things will continue to grind lower until there is a recognition, amidst the wreckage, that there's no other alternative.
7. Forcing the big 3 to go into BK would signal the beginning of the end of the Bailout Bullshit Blues and force the reckoning that is required to restore credibility to our financial system (but it may not signal the bottom).
Just my two uneducated cents
Aggie |
