It seems as though, here in the Midwest, most "people on the street" types are all carrying on in our business and personal lives as usual and that's to be expected.
Kind of.
And it's a good thing. Panicking, for whatever reason, doesn't help anything.
But all of the big, bad financial news in the last year, compounded by the most recent troubles of what is now referred to as "Government Motors", GM, and their nearly-unimaginable bankruptcy and the financial wreck that is California portends quite bad news.
And not just for Californians and GM employees.
I'm not going to start making any predictions here about what's going to further happen to whom because of all this but the ripple effects of these two crises alone is so huge it's almost impossible to predict the continued falling out.
The question almost becomes, "Who WON'T be effected by these messes?"
And then there's the credit card defaults and bankruptcies, still to come, we've been warned about.
It ain't over, folks.
The fat lady ain't singin' yet.
Links to related stories:
http://money.cnn.com/2009/06/03/autos/gm_desperate_final_days.fortune/?postversion=2009060310
http://www.americanchronicle.com/articles/view/104622
http://www.nytimes.com/2009/05/18/opinion/18kim.html?em
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