Is it a time of economic change ? Change for the better or the worse ? It seems as if the underpinning of the American economy have come to a head , if not decline and defeat . Yet for the world as well . What other major dumping ground for exports exists worldwide . Certainly not Europe and the United Kingdom , certainly not Japan or Asia. Certainly not China with its billions of consumers which the western world ran after in a panic some time ago – creating factories and skills for which to exploit the gigantic Chinese market – only to discover that these enterprises became export factory machines for export of product back to countries of origin – wiping out high paying jobs and careers in those principalities as well.
However its been a long time come to roost. Some – such as economist of note M.L. Labovitvch , noted of great fame – that it could be seen coming 40 years ago. Are the Japanese going to provide you a job – he was noted to have refrained. Yet export tariffs protected the US auto industries. Its workers could always ask for more as the union in a manner pieced them off. The company can pay more , its the company bosses …. fault. Yet neither realized that even if upper management did not want to produce small cars – little econoboxes , no money in it etc etc and so produced stupid vehicles which no American consumer in their right mind would be aka early Chevy Vegas noted as the worst car Detroit ever built.
What neither of them ( the auto execs, the union chiefs and the workers) realized that consumers were voting with their feet and money. It was the consumer who was paying for their livelihood not the “company bosses” or even the union. It might be noted that the short term answer to this was the SUV craze. Yet this was shortsighted to the extreme. In the end you get what you deserve – however in this case the American economy , consumer , world economy and even the bond markets have paid for the hit.
Nader to Congress: Intervene in the Auto Bailout | The Moderate Voice – Today Nader says Congress should intervene in the auto industry bailout: “The government-led restructuring of Chrysler and General Motors has been twice delegated — first by Congress to the Executive, and then by the President to a task …
Instapundit » Blog Archive » AUTO BAILOUT WATCH: Investor … – BURGERS BECOME steadily more refined…. » May 22, 2009. AUTO BAILOUT WATCH: Investor Confidence Ebbs. Gee, I wonder why? Plus, bad news on auto production and sales. Posted at by Glenn Reynolds at 12:34 pm …
Obama Auto Bailout Under Attack | TheDetroitBureau.com – The Obama Administration’s proposed bailout of General Motors and Chrysler is facing a growing chorus of criticism – and, significantly, it’s coming from.
Japanese Firms Line Up for US Auto Bailout – Companies * Asia … – More Japanese suppliers to General Motors and Chrysler have applied to a US government program to guarantee the debts of the two ailing auto giants as the chances of GM following Chrysler into bankruptcy keeps rising, …
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