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I just got back from China. You will not see as many Buicks in Michigan in a month as you see in Shanghai in one day. GM stabbed its bondholders in the back, basically committing what would have been an unprecedented crime had it not been sanctioned by the US Government, Then they shamelessly went on welfare. All the while pumping money into foreign countries. On the day they committed the crime I had three GMs in my driveway. A few months later all three were gone and my 30+ years of loyally driving GM was over forever. What's amazing is how clueless 99% of Americans are about what GM got away with when they renegged on their own bondholders. These weren't stockholders, who willingly signed on for that risk, mind you. They personally loaned GM money with the legally binding agreement that in the event of financial problems they would have first claim on assets. Instead they, little old ladies included, got shafted while the government-appointed fake CEO took $9-million for keeping his mouth shut and and then boogied on home without ever having moved his residence to Michigan. Months after literally robbing these poor folks who trusted them, GM was back to paying fat bonuses to the salary and hourly workers after the new a-hole CEO was caught lying about having paid the welfare money back early (he left out the part about using additional welfare money to pay back the first).

It's astonishing how incredibly dumbed-down the American public is and what they will tolerate in their state of abject ignorance.

-Gary
 
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