A lot of people aroud here think $25 an hour - including retirement - is a high-paying job. Many are working for a lot less.
It is hard to get sympathy for a $50+ job from the average joe out in the real world. Any fool can live on $40 an hour, gets real hard for someone on $18 an hour to live on $8. Better to cut the fat than really hurt those producing something for their few dollars.
The question is do we support an industry that was failing 4 years ago, when the ecconomy was good? What were they doing back then to improve? How will a few billion help out now that the ecconomy is tough? Losers are losers, and the auto industry in the USA has been a loser for some time. What is going to be different?
I feel for the folks that will be affected. This is not an easy question. The folks in Detroit will make their bed one way or another. This is their game. The people I feel sorry for are the suppliers working $20-25 jobs. They are the ones who will be crushed. Their jobs will go overseas. The Detroit folks will have their buddies get them some help, & get their $50 jobs right back.
We are darned if we do, darned if we don't.
Bottom line is that USA folks have too little money & need to adjust. This will mean less car sales for a period, and less expensive cars. USA auto workers can't deal with that very easily.
But, cars will still be built, and cars will still be sold. Folks will be paid to build cars.
The bankruptsy, reorginise, and reinvent the auto indsustry route might be painful short term, but it might produce a good storng valuable industry that carries the USA intot he future.
Giving then loans, then bailout, then more - will allow the bad business proactices & innefficiency to linger on and on, dragging our ecconomy down for decades. Rather than an asset, the auto indusrty will be a cancer to our ecconomy.
Either way, cars will be built, cars will be sold, people will be paid to build them.
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