Category: Economy

My Tax Dollars Went to These Morons

Yep, GM continues to be a company that we never should have bailed out-Thanks Washington! But, read this article on Lawyers Ply the Internet to Score Clients for GM Lawsuits 😉

NEW YORK (Reuters) – General Motors may face lawsuits for millions of dollars over its recall of 1.6 million cars, but first lawyers have to find clients if they hope to get a foot in the courthouse door.

To do so they are buying Google search terms, registering Internet domain names, announcing investigations into GM’s behavior, and turning to their Twitter and Facebook accounts to provide updates on the recall.

GM has apologized for how it handled the recall and said that taking care of customers was its top priority. The company said it is authorizing dealers to provide loaner cars and a $500 cash allowance to affected customers, and is working quickly to communicate with customers on a variety of channels about the recall. Really-You’re Lying!

In New York, law firm Weitz & Luxenberg has registered the domain “GMclaimslawyer.com.” The site offers owners of recalled cars a free legal evaluation about what potential legal claims they might have for the “danger” GM exposed them to “when they let these fault(y) vehicles continue to go down the road.”

Well, someone is going to make money on this cluster-Cash Flow comes in all forms!

Higher Oil Prices

Yesterday, I filled up and was kind of shocked to see gas at $3.33 per gallon! Usually I try not to look at the price of gas, to avoid heartburn but this did get my attention. There’s an article over at Yahoo Finance called Why Higher Oil prices Will Clobber the Economy.

The bulls argue that “this time is different” saying today’s consumers have handled  oil above $100 a barrel, so far and they will be able to handle it and the economy will keep rolling!Me, i’m not so sure-I see more and more people buying a certain amount of gas and they are not completely filling up. I’m very concerned about gas creeping towards $4 and $5 dollars a gallon.

Lance Roberts makes a good observation:

Consumers are being forced to spend more on oil and gas, and this is boosting overall consumer spending. This increase in spending is not the result of consumers feeling better about the economy and thus loosening their purse strings.

I’m going to have to agree with Roberts-this will screw peoples cash flow up and make things pretty tough for the economy. How about you-are higher gas prices catching your attention and messing with your budget?

Dansette