Saturday, January 20, 2024

Motor City Burning - 2009

The MC5 covered Joe Lee Hooker's MOTOR CITY BURNING in 1969.

"Motor City burning and nothing you can do."

In 2009 GM had planned to announce its bankruptcy to its debtors, rendering the old adage "Whatever is good for GM is good for the USA." into a destiny of ruin. The massive company had arrived at this juncture despite an infusion of billions of dollars by the Federal government. This is bad news for the global economy and today could be a bloodbath on the NYSE, however stockbrokers have a funny way of painting bad news with silver linings. I've traveled through the Midwest recently and sadly have to admit that there's no reason to save these companies. Detroit, St. Louis, Peoria, Rockford and countless other heartland cities are shells. Nothing can save them from abandonment. That world is gone and gone forever. Such is the cost of global militarism. Burnt-out cities and fat people.

I don't see any good news in this bankruptcy other than GM won't be able to make any more Hummers.

A little too late.

http://www.youtube.com/watch?v=Hj9fba0L398

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