Automaker stock values plummeted along with the Dow yesterday, with most closing down at least seven percent, reports Automotive News. General Motors dropped $1.25 to $8.51, while Ford dropped 64 cents to close at $4.17. Suppliers were hit equally hard, while dealership groups like AutoNation and Penske saw declines from 3-13%. So, is now just a really good time to buy? Depends on the gambler in you. If it were our money (and it won't be), we'd send a little toward Dearborn simply based on the product we know is in the pipeline. [Automotive News (sub. req.); Photo Credit: Thelightisgreen.com]
I like this article - [news.yahoo.com]
Experts warn that rising unemployment, shrinking nest eggs and prolonged recession would be the result of not going through with the bail out.
I've put 12% of my income in my 401K for the last 5 years and it's been worth less every year that it was worth the year before. After adding my 12% and work matches a percentage. I've probably put $100K into it total and it's valued at less than $30K. Drinking it would have been a better use of funds. Doing lines off a hooker's ass would have been a MUCH better use of funds.
My pay has been stagnant for at least that long and they don't really know what the unemployment rate is in Michigan because they only keep track of the ones still drawing unemployment - not the ones that have dropped off. The price of everything has practically doubled and the dollar is worth half of what it was.
But we could have some problems if we don't go through with the bail out.
What fucking planet do these people live on?