Tuesday, October 7, 2008

I'll tumble for ya...

With GM, Ford and Toyota taking a tumble in the stock market; with GM postulating that it may sell its corporate HQ in Detroit to raise much needed cash; with foreign banks now scrambling to borrow money (even Iceland is in loan talks with Russia) I thought you may need some good news - India is about to produce the world's cheapest automobile - the Nano, with a selling price of $2,130 (or 100,000 rupees). The Nano almost makes the Smart car look big!

And then there is President Bush addressing a roomful of small business owners. What is odd to me is why would a small business owner seek advice from a man that ran three oil businesses into the ground?

So the Federal Reserve, in an attempt to jump-start the lending that is the lifeblood of American business, said it will buy up the short-term debt that funds the daily operations of banks and ordinary businesses. It's nice to see the feds can bailout the banks. I wonder what they plan to do about the $2 trillion in pensions that have been lost in the past 15 months?

Remember, it could be worse. During the Great Depression unemployment was at 25%, tent cities cropped up to shelter the homeless and social unrest was prevalent. Boy aren't we lucky?

So, do you think our founding fathers are rolling over in their graves or are they laying deathly still in hopes no one will call them back into service for their country.

No comments: