Representatives of what we still laughingly call the "big three automakers" met with senior Congressional Democrats in a closed door meeting to decide how much of our money they are going to throw down that rat hole.

According to the NY Times:

Of the three Detroit companies, G.M. appears to be in the most perilous condition. G.M. had been burning through an estimated $1 billion a month this year, and analysts say that figure probably increased significantly in the third quarter.

As a result, the company could run out of the necessary cash to pay its bills and finance operations by next year.

Let me understand this. General Motors is going to go bankrupt next year because it insists on building cars no one wants to buy and, to forestall that, it wants to buy Chrysler which builds cars homeless people don't even want to sleep in.

General Motors, Ford, and Chrysler sold - collectively - seven cars in October and none of them have any reason to remain in business.

Except in the current People's Republic of the United States where, If you have made really bad choices, and

Have lost lots and lots of money, and

Have no business plan which exhibits any new thinking whatsoever, then

You can come to Washington, plead your case, and have Congress give you tens or hundreds of BILLIONS of dollars so you can keep doing what you had been doing which, according to modern economic models, will fix everything.

This is why I watch CNBC.