Really, now we want to bailout the automakers in Detroit who haven’t been performing up to par for years? This is the ultimate in privatized profits and socialized losses. Sometimes I wonder about the Democrats in office… Are they actually paying attention or do they just think handing out money to anyone who asks is a good idea? Because I don’t. I may be a liberal but I still believe you should have to earn your own bread and butter. I have come to terms with the fact that our entire economy would have collapsed if we had not bailed out the banks. That I can accept, unhappily but accepted nonetheless. If the automakers cannot create vehicles that people in this country would like to buy then they should not be rewarded for their incompetence by being bailed out.
Yes, I do realize that allowing the auto-giants in Detroit to fail does mean a significant amount of jobs lost. But let’s be realistic, if you run your business poorly, you don’t pay attention to your consumers and the fact that your sales have been going down for years then you are going to run yourself into the ground. And it is not the general public’s problem to clean up. You fail, you close, too bad for you.
And I know Detroit is crying out that we bailed out the banks so why not them. Well, to put it simply, yes the banks made a mess of things but unfortunately they effect every other industry in the United States and, with these fantastic global markets, the rest of the world too. So not bailing them out would have most likely guaranteed a Depression that would have been unprecedented. While I may not like that we bailed out the banks, it certainly was necessary in order to maintain some semblance of an economy, even if it is in crisis. The automakers on the other hand, well ok too bad they go out of business, we still have a bunch of foreign automakers that have factories in the US. This will not effect the entire country much less the world even an iota of what the banks failing would have done.
Perhaps it isn’t fair but it’s true and the less socialized losses we take the happier I am because let’s face it we’re not a socialized country. I am all for socialized losses as long as we start socializing the profits, you just let me know when that happens cause I’m not gonna be holding my breath for that one. And just one final thought, perhaps we should take a look at Britain and learn from their mistakes, bailing out a lousy automaker does nothing for anyone. It’s just plain stupid.