I thought one bright spot was at least the dollar is at a ten month high vs the euro. A little comfort in that.
JB.
Not really, at least in my opinon for these reasons, the Euro has fallen the dollar hasn't really risen. The reason is debt, France, Greece, Spain etc all in debt. As the eruo falls American exports get more costly over there so less demand, less we export. It also makes in more costly for them to come here, less tourists. George Soros is now rumored to be placeing billions in investments that the euro will fall. Most of the west has borrowed to finance there standard of living, including us. At some point it will have to stop.
As far as GM and Chrysler, my family is done. We have owned everything "American" over the years, Ford, Dodge, Jeep, Chevy etc. My dad late last year bought a Toyota. Most of the people I know feel the same, with the bailouts, it wasn't right. If it wasn't for them being UAW they would have been allowed to fail.