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Wednesday, February 11, 2009

When Will The Economy Bottom

A good way of telling if the economy has hit bottom or not is when the people who caused the financial collapse are longer in power. Gm as bad off as they are proably hasnt bottomed yet. Bob Lutz just resigned. He is an automotive icon and wasnt the cause of Gm's problems. The decision that put the lid on Gm''s coffin was weather to concentrate on car production or building more suvs. Gm at a time other car companies where leaving the suv martekt decided to go full throttle into the Suv market. And they got slaughtered for doing it. But who made this fatal decision for Gm that caused them to lose their footing in the American automobile market. It was the chairman of Gm the notorious Rick(Duke)Wagoner that made this critical mistake and bad judgement. Yet it was Robert Lutz who was demoted. At the time Wagoner was making this monumental decision about suvs he was telling company insiders you are either with me or agin me. And if your agin me get out of the company. That Duke dosent tolerate disention to well. Until someone takes him by his big flappy ears and shows him the door the recession-depression will continue.
Obama's stimulus package is good legislation and deserves to pass. The banks really shouldnt get anymore money until the dumbies who caused this mess are out of office. Fuck the stock market. Domestically it appears that Obama is doing a good job. But he must concentrate on the automobile companies and rebuilding our manufacting base.