193 comments on DrumBeat: October 12, 2008
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193 comments on DrumBeat: October 12, 2008
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I saw a once/twice run item in Bloomberg's scroll of GM,
Ford, Chrysler facing bankruptcy. The next morning, Saturday,
replaced with GM in merger talks with Chrysler.
With Ten Year yields rising with every US gov't move now,
who is going to issue LOC's to finance car dealers, much less
loans to dead broke consumers.
This is the watershed moment where the monetizing of everything out to infinity collides with the peaking and decline of the energy growth that makes/made the monetizing possible.
Kind of like a drowning man grasping desperately at another drowning man for support.
Kinda reminds me of the old "Power of Two" a ways back when two loser computer companies (Univac, and Sperry-Rand) merged. I refered to the combo as loser squared.
I suppose if they merge product lines, then similar products from both companies can be combined (i.e. lots of engineers can be declared redundant). But it is hard for me to imagine short term benefits, and this close to bankruptcy.....
That was Univac and Burroughs. Sperry-Rand had owned Univac for many years. As I recall it was liquidating itself at the time.