Financial Pictures: Soup Lines For 2009 and Beyond

Can we avoid the Great Depression 2.0.? Click on the Time magazine cover for the article titled: "The End of Prosperity?"

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Peter Schiff: Let GM and Other Automakers Fail! (Video)

Anyone thinking of buying a new vehicle within the next 3-6 months? I highly doubt it especially when the employment situation will only get worse. Even if the Big 3 automakers get a bailout today, they will come back in 6 months begging for more taxpayer money! The only way they can get out of this mess is to file for bankruptcy, eliminate the union, and restructure. Or, the automakers will fail outright (even with the bailout). In either case, I expect thousands of auto workers to line up at the unemployment office sooner rather than later. I don't see any other way around this.

Here's Peter Schiff's take on the Automakers.

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