October 10 2008 / by Accel Rose / In association with Future Blogger.net
Category: Economics Year: General Rating: 1
“As GM goes, so goes America.” – Let’s all hope that famous maxim doesn’t apply now.
Yesterday General Motors stock closed below $6 for the first time since the 1950s. Then last night, the financial woes worsened as most foreign stock markets plunged between 4% and 9%. Now this morning we’re all left wondering, “Just how bad will this get? Are we nearing the worst of this crisis?”
Here’s a CNN summary of the action:
Some economists are optimistic that we’re nearing the bottom, but many others are bracing for another Great Depression.
What do you think?