Friday, 16 January 2009 23:00

The auto industry debacle is truly a global phenomenon

For those who are knocking the Big Three automakers in Detroit for
underperformance and mismanagement (which they are all guilty of in
varying degrees), you should take a more global perspective, from the UK Guardian:

 It should be obvious to all that we are entering a global depression. I ask all of you, in your lifetime, have you ever witnessed anything like this? I know there are a lot of super smart economists, analysts, investors and pundits that may say otherwise, but I query, who are you gonna trust, them or your LYING eyes?! Why wasn't there so much doubt over the last 15 years when we were experience a global equity and asset boom? I know, I know... Things can go up and do well, but they really can't go down and go bad.

Last modified on Friday, 16 January 2009 23:00

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