Your kids try to set up a lemonade stand.
They sank their allowance into it and are not doing well.
You buy them fresh lemons, sugar and a fancy stand.
You buy most of the lemonade they make.
You declare that you saved their business and they are now a big success.
Multiply that by multiple billions of dollars and it’s GM.
Just in time for elections, we bought 79% of GM’s fleet sales last month, which is 32% of their total sales. Means a quarter of their business last month from the car manufacturer that the government owns, was to the government. Makes their numbers look good, though.
Don’t bother asking if you’d buy a used car from Presbo. He just sold you a fleet of brand new ones. No cash due up front. But don’t leave town.