And yet more news about the continued downturn in 2009.

With 2009 US car sales projected to be only 9 million vs. 16 million in 2007, I’ll bet that GM will eventually have to declare bankruptcy:

Moorlach Sees Up to 10 Municipal Bankruptcies in Coming Year

Dec. 23 (Bloomberg) — The accountant who predicted the nation’s largest municipal bankruptcy says as many as 10 insolvencies will roil the $2.7 trillion U.S. market for state, county and city debt next year as public finances worsen amid calls for federal aid to state and local governments.

http://www.bloomberg.com/apps/news?pid=20601109&sid=adSvg08A04KI&refer=home

GM Investors Bet Lifeline From U.S. Won’t Be Enough

Dec. 23 (Bloomberg) — General Motors Corp. Chief Executive Officer Rick Wagoner said the biggest U.S. automaker got “what we asked for” with $9.4 billion in U.S. loans over the next 24 days. Investors bet that it’s not enough.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aX0LE04twYco&refer=home

Related Posts:

• GM BANKRUPTCY FILING NOW CERTAIN FOR MONDAY JUNE 1, 2009
• Blasting a huge hole through the psyche of the American Middle Class
• Harvard lost a big chunk of money on derivatives last year
• Forecast: U.S. economy may be sluggish during the next 20 years.
• China is the engine of world growth and the only country left standing with REAL GROWTH

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