The world economy teeters on the brink

I learnt this week that Merrill Lynch have downgraded General Motors stock from a "hold" to a "sell" and that they suggest that "bankruptcy" may not be out of the question. Worryingly for the world economy Ford are rumoured to be in a worse position and Chrysler even worse than that. The coming economic collapse is going to be very serious maybe of 1929 proportions.