Posted on 04/04/2009 5:40:30 AM PDT by MyTwoCopperCoins
I blame them all...I have to wonder if either party can ever truly act in the interest of the American people and not the lobbyist who contribute to their campaigns.
Failure seems to be regarded by tens of millions of dollars in "bonus" payments. Time was when a bonus was viewed as a reward for a job well done. Now, it seems, it is a payment for a job poorly done, or not done at all. Time was, the "reward" for failure to do your job well was firing. You didn't get a monetary payment, you got the gate, and that's it. Time was, when you took out a loan, you had to show a reasonable ability to repay. Now, they are handing out credit like candy. Doesn't make sense.
Time was when you owned stock you paid a broker and got a certificate of ownership. Now it's all electronic accounts and leveraged buyouts and bundled securities and derivatives. American automakers are going out of business not understanding why, when the simple fact is people won't pay the money being asked for the product being offered. But why this seemingly simple fact goes lacking for understanding is something I don't get. So they either cut costs and offer a lower price, or offer a better product for the price they are asking. Isn't that how business is supposed to work? It did when I was in private business in a "previous life". Maybe rediscovering our roots, our basic values, and the pleasure of simple things will be the way to do it. But there will be a lot of upheaval and dislocation getting there.
I agree with everything you say, but the auto’s are in a tough spot...they compete with socialist countries who cover health care and pensions...as for the transplants, they receive aid to cover such expenses from their country. Japan has been dumping cars for years...charge less in order to get market share. At the same time, they charge a 15% Vat tax on American cars in Japan...the transplants also get 15% payment for the cars they sell here so it’s really a 30 % disadvantage...trade, health care, regulation have all conspired to put American business out of business...this country is the worse for it.
I have concerns about the loss of domestic manufacturing and production infrastructure from a strategic view point as well as economic. We simply can't afford to have our national defense become a cottage industry. We just can't survive in today's world as a major player if we do. We won WWII and the Cold War by virtue of being an industrial and R&D powerhouse. Today we're neither. We're able to "win" push-button wars and boots-on-the-ground against tin horns like Saddam, but I fear it will be a different story against China or a revived USSR, if it ever comes to that (hopefully not).
I know what you mean....look at the Civil War...the industrial North defeated the South which relied mostly on imports...the age old story. Reagan would never have allowed such unbalanced trade. He was an American first unlike our more recent leaders of sadly both parties.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.