If the federal government keeps printing trillions of dollars to bail out every failed enterprise, we are going to see the value of the dollar drop. A loaf of bread will be $10, or $15. It seems we could end up with both a depression and rampant inflation. That may sound impossible, but it seems it could happen. If so, it would be far worse than the consequences of a GM bankruptcy, or an American Express bankruptcy.
The economy could be turned around by ending the federal income tax, replacing it with a national sales tax, and making huge cuts in government spending. The government is sucking capital away from private enterprise, which creates real jobs.
I think their demise is inevitable now. Someone at work asked about buying a car for their kid and a shout went up from several co-workers “don’t buy American, they’re going under.”
Maybe O can spend some of the multi-millions he’s stashing away and help some of these unemployed Americans. No, he’d rather give them billions from our pocket even though it’s a lost cause.
UAW: See ya, wouldn’t wanna be ya.
I hope.
Unions are the commie’s toehold in America.
Oh, darn it all! I forgot about Oblahblah.
I’ll go back to my bitter clinging now.
It is time for them to go. They will either recast them selves as smaller more efficient entities or be bought by competitors.
U.S.News & World Report
10 Cars That Sank Detroit
Friday November 14, 5:34 pm ET
By Rick Newman
The global financial crisis is suffocating the Detroit automakers, but the problems at General Motors, Ford, and Chrysler have been festering for years—even when the mighty “Big Three” were earning billions. Aging factories, inflexible unions, arrogant executives and shoddy quality have all damaged Detroit. Now, with panicky consumers fleeing showrooms, catastrophe looms: Without a dubious federal bailout, all three automakers face the prospect of bankruptcy.
There will be plenty of business-school case studies analyzing all the automakers’ wrong turns. But, as they say in the industry, it all comes down to product. So here are 10 cars that help explain the demise of Detroit:
Excerpt: Go to the link below for the story:
http://biz.yahoo.com/usnews/081114/14_10_cars_that_sank_detroit.html?.&.pf=insurance
Screw ‘em!
The company I worked for went bankrupt (Ch 11) and was able to streamline to survive. Cost me in future reduced wages and lost retirement way beyond $1 million. But the same incompetent management and labor unions remain. Would have been better to close the place up and start a new company.
I went by the local GM dealer and counted seven (7) unsold 2007 model pickup trucks. They aren’t selling the new ones either. How they pay the light bills is beyond my understanding.
This bail-out is nothing more than disguised protectionism. That only made the Great Depression worse.
Kill this giveaway in the cradle. We are all going to be living in cardboard shacks before this is over. Call your Congressman, Senator and president. Kill it. Drive a stake through its heart. The government is out of control and the UAW would take us down to a watery grave with it.