Automotive giant GM going under

Today the big news was that the unemployment rate rocketed to 8.1% and believe me it will continue going up. This should not come as a surprise. GM is now talking chapter 11 as it feels a chill.

Here are pictures of unsold cars around the world. Things are bad and getting worse. It is almost like 2009 is looking a lot like 1929 with all the foreclosures, banks closing, and the drop in the dow. Still, GM was able to survive the 30's. Sadly, this time it may not be so lucky. Both GM and Chrysler are in bad shape.