Thursday, May 07, 2009

GM bankruptcy nears

Barack Obama is reaching the end of his patience with automotive giant General Motors. Today we find out that GM lost near six billion and bankruptcy is near. Already US tax payers pour 24 billion into a rat hole. How much more money do we have to throw away?

GM makes vehicles that people do not wish to purchase. The tragic truth is that we can only bail them out for so long, before it bankrupts the US economy. I predict that our severe recession will become a deep depression. The future of USA is bankruptcy, much like GM we did not produce products the world wants to buy.

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