Wow, this econmy is fubar'ed!
The US Gvmt is now mulling over wether or not to come up with $25B for the big three car makers. The car makers are saying that because of the credit crunch they can't borrow money any more, so, they want a loan...
So, what do you think?
Pros:
There about 2.5 million jobs in North America, including an assload here in Canada, directly tied to the auto industry.
Cons:
That's a lot of money!
The US car makers aren't going to survive anyway, nobody wants their product any more.
Personally I think they should be allowed to fail, for as painful as that may be, because they ARE going to fail. The foreign brands (Toyota, Honda etc) are light years ahead in fuel efficiency, and anyone buying a US brand has to be fearful that they're going to go bust. The only thing that could really save GM is the Volt, but at $40K it's too expensive. Without that though, $25B could been sunk in to save them, and they fail anyway.
Use the $25B instead on infrastructure projects that could hire some of those laid off workers.
The US Gvmt is now mulling over wether or not to come up with $25B for the big three car makers. The car makers are saying that because of the credit crunch they can't borrow money any more, so, they want a loan...
So, what do you think?
Pros:
There about 2.5 million jobs in North America, including an assload here in Canada, directly tied to the auto industry.
Cons:
That's a lot of money!
The US car makers aren't going to survive anyway, nobody wants their product any more.
Personally I think they should be allowed to fail, for as painful as that may be, because they ARE going to fail. The foreign brands (Toyota, Honda etc) are light years ahead in fuel efficiency, and anyone buying a US brand has to be fearful that they're going to go bust. The only thing that could really save GM is the Volt, but at $40K it's too expensive. Without that though, $25B could been sunk in to save them, and they fail anyway.
Use the $25B instead on infrastructure projects that could hire some of those laid off workers.




