First off - the GM/Chrysler government loan debate. Why are the auto companies running to the government for a Lending Hand, when the government just gave $125 Billion to the major banks with the express intent to LEND IT OUT to corporate and retail customers? Why aren't 5 or 6 major banks not getting together and syndicating out $25-$30 Billion in guarantees to the auto manufacturers (with covenants that may involve Union/management concessions)? This is hardly Rocket Science, yet I hear no one in the Mainstream media tossing such an idea out there for discussion.
Secondly - some ground-level observations on the retail trade here in NYC...Tourist traffic is decidedly lower than the same time last year; hotel vacancies are up; Broadway is down; retailers (including cheap shopping such as H&M) are definitely suffering; and you can get a table on short notice at most restaurants. All in all, my ground-level observation stands at odds with the previous controversial post about a less-than-horrible Christmas shopping season. Let's see how it plays out over the next 4 weeks.
Third - a WSJ article that should be required reading for anyone who thinks we are in a mild or moderate recession. Wake up, people.
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