There is no chance of an AUTO BAILOUT
Giving the Autos $15 Billion dollars is like giving a drunk a few shots of vodka to cure alcoholism. First, the amount is too small, and second.....it doesn't address the issue of a poorly structured balance sheet including off balance sheet union liabilities.
You are watching your tax dollars get wissed down the wisser.
My friends......I am not predicting a rehash of The Great Depression....I am forecasting THE GREATEST DEPRESSION.
Unless we deleverage practically every State, County, City and most businesses and individuals....we are only making a very deep hole even deeper. This time there is no one out there to throw us a life line......the buzzer has sounded. Not banks, not foreigners, not Uncle Ben....he is getting tapped out as well.
At this point we must either print with few limits or restructure......for all of our sakes......let's hope the latter prevails or all of our savings will be worthless......but that wouldn't be the end of the world.....it might make interesting wall paper.
As far as an Auto Bailout.....its tough to revive a bankrupt company with a poorly structured balance sheet and poor business outlook to boot with only a fraction of what is necessary for restructuring. Any guesses when this nonsense gets derailed.....Tomorrow or Friday???