GM

In my post concerning new year predictions I opined that I thought GM would go bankrupt, and indeed, that seems to be unfolding.  Let's face it folks the American car industry needs an extensive overhaul and bankruptcy may be the best way to let that unfold.  The stock market is silly to be bothered by this.  There are so many other things to worry about besides GM.  The economy is far from recovery and key sectors are very weak.  Credit from what I'm hearing is still very tight for those wanting to buy a home and until that loosens up I can't get too excited about the market.

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