Saturday, December 13, 2008

GM wants to cut its 1st quarter truck & auto manufacturing by a quarter of mil. Rick Wagoner said quarter of a mil cars less in 2009 so most of GM car plants will be idle in the month of January. This desperate measure is to save cash until there is a bailout.

In other news, foreclosure families are flooding into homeless shelters because they have no place to stay. The flood of foreclosures that hit the banks hard is hitting families even harder. Financial catastrophe of wall street is now affecting main street. This is americas worst economic crisis since the Great Depression of the 1930's. Bushville tent cities are popping up much like Hoovervilles did back then.

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