Failed Bailout Du Jour
Big 3 bailout or no big 3 bailout won’t make much difference at this point, except to prolong a final reckoning, whatever form that may take and whenever that turns out to be.
Buyers, suppliers, dealers, and workers will be living as if on borrowed time whether or not 15 billion dollars finds it’s way to Detroit in the next few days. Just as the stock market plunged when TARP initially failed to pass, and did not rebound big when the second attempt succeeded, the bloom is off the rose. There’s a huge difference between a panacea and this flimsy lifeline.
Once again, bi-partisan cooperation is a talking point and nothing more. Southern Senators, more of them red than blue, are hiding behind small government and free market rhetoric while protecting the Toyota, Hyundai, and Nissan plants in their states. Don’t even bother to wonder whether these companies donate to their campaigns.
Finally, it’s sad that the final tally was 52 yea and 35 nay, implying that 13 senators couldn’t make it to a vote that might well have determined the fate of an iconic, albeit wounded American industry.
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The bankruptcy of our industries will continue to be painfull. The sad truth is the US auto industry had 20 years to catch up but failed miserably. GM killed their very successful electric car that got the equivalent of 90 miles per gallon, even though there were thousands of people on the waiting list, claiming “there wasn’t enough demand”. It’s sad for all the real people who will pay the bill for this.
As far as I can tell, the problem is that we no longer have a competitive marketplace to sort this out. It’s all big companies. State-supported monopolies. Consolidation in every industry. Big governments. Big taxes and Big profits. Apparently it is true that power corrupts. Can anyone prove that statement wrong?
Our systems are too big and corrupt to fix. Each State has an opportunity to redefine their economy take charge of their own destiny. Vermont Commons is hosting a very interesting conversation about what Independence really means. http://www.vtcommons.org
can’t disagree with anything you’re saying. will have a suggestion for a 20 year plan to dig us out of this hole posted within a few days. for those of you not aware of it, vtcommons.org is a provocative and super credible site/organization. you may not agree with everything there, but you’ll pick up a new and valid perspective.
thanks Optimist. stay in touch. LK
The solution to all of this is going to boil up from the people. No president or cabinet or board can do what we can do. Not to be cliche, but we must BE the change we want to see…
I CAN make it MY planet, with my will, my wallet and my voice.
But WHAT is our collective goal?
Me, I want to beat my weapons into plows and rest awhile.
hey Surf. piece will be coming out shortly having to do with something resembling your comment, that this generation must re-generate.
thanks and stay in touch. LK