So let’s assume GM doesn’t get bailed out and they start to move to bankruptcy. This will likely further hammer holiday sales as there seems to be a direct feedback loop going on between the markets and the consumer. If you look back at the sales data for October vs. performance of the S&P you’d notice a striking corelation. Not saying it is causal… Just some food for thought. Some charts on the matter…  and a study in pdf…

Love D la Rue