I was obviously a little conservative with my analysis that either GM or Ford would go under within 12 months back in my hard hitting story The last Ford v Holden Battle? published in October last year. For some reason I gave a 25% chance that both companies would survive; Idiot!

It has only taken 8 months for one of the former largest manufacturers on earth to run itself into the ground.

Never fear however, Barrack Obama is here! He has printed a whole bunch of new money and has decided to prop up GM so they can try and trade out of trouble. I am not quite sure what GM has been doing for the previous 8 months but apparently they were having no luck getting out of dodge (Viper) so now the government of the United States is going to turn the situation around.

Don’t know if it is likely but it should make for an interesting show.

Note to everyone…. Really really really high debt is bad.