Volkswagen, by contrast, had worldwide quarterly earnings growth (ending Sept. 30) of over 60% and quarterly revenue growth (year-over-year) of nearly 27%. Talk about a stock that is undervalued! Even though VLKAY is selling near its 52-week high, its forward PE ratio is only 6.63 and its price-to-earnings-to growth (PEG) ratio (five-year expected) is a phenomenally low 0.07.

GM shares have a one-year price chart that looks like an "inverted head-and-shoulders" formation, technically speaking. Its chart below shows quarterly revenue-per-share growth has been outstanding. GM Chart GM data by YCharts

When the federal government orchestrated a bailout of GM, few thought that the big auto and parts manufacturer would rebound so quickly. Its latest plan to spend $5.5 billion to buy back shares comes as the Obama administration works to wind down financial-crisis era programs from the inherited financial fiasco that culminated in 2008.

Initially the stock repurchase announcement last Wednesday sent GM shares surging 6.6% and closd that day's trading session at $27.18. In spite of options expirations and disappointment over the inaccuracy of those who tried to interpret the Mayan calendar, shares were trading Friday above $27.

GM stock trades at a forward (one-year) PE ratio of 7.17 and if you like the number 7, you'll be pleased to know its five-year expected PEG ratio stands at 0.77. As of the most recent quarter ending Sept. 30 its year-over-year quarterly earnings was -13% and quarterly revenue growth was a positive 2.3%.

In the most recent quarter its total cash was almost $32 billion while total debt was a more manageable $16.65 billion. In comparison with Volkswagen's total cash of around $26 billion and total debt of over $119 billion, GM's financial balance sheet is looking better and better.

It may be too early to say, as the late Etta James would sing, "At Last", but it looks like GM has a chance to glide off the fiscal cliff and soar into a thermal updraft of low interest rates and global monetary easing.

By the way, the federal government still has GM shares left at the Treasury. They were purchased at an average price of $69.72 a share, so GM's stocks needs to go up over 250% for the government to come close to breaking even. This gives shareholders a hint for an upside price target.

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