The German automaker has depreciated its stake in Chrysler to zero from $268 million at the end of June, the company said Thursday. A little over a year ago, the company valued its 19.9% stake in Chrysler at $2.2 billion
Wow, think about that. From a bogus two billion and change to ZERO in a little over a year. The death of cars as we know them is on the way.
Not only that, the morons at GM are buying them. The same morons who refused to consider building anything but gas hog SUV's for the last two decades and now want bailout money to build slightly more efficent death machines so people can get fat driving in our stupidly built cities where nobody walks or bikes out of fear of becoming roadkill.
A few well placed bombs in the Suez canal and one or two tankers being blown up by not very determined assholes would make our oil supply clog up faster than a regular diner at Burger King's arteries.
All those people who thought a house in Black Earth or Verona or Scum Prarie are gonna be sorry when gas becomes an overpriced luxury again.
We're a nation of morons. If I wasn't a bottom feeder who is going to feel the pain of the oncoming new great depression, I'd be laughing at the massive failure of our economy and shitbrained greedy system of money grubbing jerks.
Add in the TRILLIONS of dollars the Fed is making appear out of thin air and your dollar isn't going to even the heat bills, let alone the gas for your commute.
And of course, all the folks who vote down light rail or mass transit because their SUV was so much more pleasant and you could avoid actually rubbing shoulders with the rest of the human tribe will be bitching about being screwed by their votes.
Better start riding bikes now, folks. It's gonna get ugly. You'll have a leg up if you do. Or a leg over, anyway.