U.S.: Heading for Industrial Coma

WSJ - June 4

Studebaker, Nash-Kelvinator, Packard, Hudson, Stutz, Pierce-Arrow, Stanley, Checker and American Motors were once household names of the U.S. auto industry. Unlike General Motors in our time, they were not too big to fail. Despite mergers and rescue efforts by their owners, each was shut down. Their legacy lives on as classic cars, restored with erotic affection by collectors.

GM’s end is different. In the spirit of the new age, General Motors, like Citigroup and AIG, will be kept alive in an industrial coma. One has to ask: Is this where the entire country is headed? Since January, it looks like it is.

http://online.wsj.com/article/SB124407155034283023.html

Unemployment is up, wages are decreasing, tax revenues are down, taxes will soon be going up, inflation is at hand, deficit spending is quadrupled. And the Obama administration is doing absolutely nothing to address these issues. In fact it is deepening their long term impact.

Related Posts:

• Citigroup, Inc. (C) and General Motors Corporation (GM) are not investment, they are trades.
• GM Is On The Edge of Bankruptcy NOW
• Here is another thing about bank closures:
• Outrage: Obama Spending December 13, 2009 to December 20, 2009 = $1.89 TRILLION!
• From Denninger today — anyone know anything about AIG underwriting Greek debt? That could get interesting:

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