everyday there's a new fix. a bailout a rate cut or some such. none of them seem to have helped much. the big banks are about to get $25 billion each and some regional banks will receive $18 million each.
the feds are meeting & everyone expects a rate cut. how low can they go?
but the two interrelated things that may have the largest impact seem to be headed in opposite directions.
Energy, make that oil and the auto industry.
Oil prices are down and the ripple effects could well be significant. But is it to little to late for U.S. auto companies.
there's talk of a GM and Chrysler merger. Help me here, what is there to merge?
Upwards of some 2000 car dealers may be going out of business. Plants are closing or eliminating shifts. For every job eliminated at an auto plant some 10 to 20 other jobs are lost at the supply-line companies that support the industry.
Some cuts already made is suspension of 401k contributions and eliminating healthcare for those over 65.
The stock market fiasco may or may not be a smoke and mirror deception. Yea, it affects the economy but it's jobs that provides the money to fuel the market.
If the auto industry fails, so goes the rest of U.S.
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