The markets have been open only a few minutes and already the DOW Industrials are up over 200 points. The scumbags are giddy in anticipation of further rate cuts by the Fed and sated from their cannibalistic gorging on Bear Stearns yesterday. They'll suck some money into the market this week, run the market up 4 or 5 percent, then sell short and leave the suckers with empty pockets.
Who wants to guess the next iconic American corporation to go toes up? A smart guess would be one of the big financials and it probably will be one of them. I'm going to go out on a limb and say General Motors. The cars they produce are total crap. They hardly sell any retail and they wouldn't make much money on them even if they did. Their employee and retiree obligations are astronomical and they are deeply indebted, with billions coming due yearly. GMAC took a flier on mortgage backed investment vehicles a few years ago and those chickens are coming home to roost. Most of their executives are the six toed, inbred grandchildren of the guys that ran the company in it's hayday. Ford is exactly the same way but occasionally they come out with a vehicle that isn't totally obsolete before it hits the showroom floor, although the build quality is only competitive if gauged against GM. Chrysler will continue on as a middleman selling rebranded Asian flivvers under their own name. Do they even have any factories any more? Probably but not in this country.
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