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Notes:
Informative report on the international tensions caused by the proposed U.S. bailout of its automakers. This article presents good factual evidence and thoughtful perspectives from a variety of sources to document the issues which a U.S. bailout would introduce. The risk of a double-standard is well articulated (“we tell others to open up their markets and reduce barriers, and we are doing the opposite.”) and provides helpful context on this important issue.
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Mentioned many sides of the issue (and there *are* many sides), plus solutions as viewed through a number of eyes.
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Great article, sticks with the facts and gets to the heart of the problem without shoving conclusions down your throat.
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The writer wrote this article in a way that even an American can understand why everybody wants their hand in the governments pocket.
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| Topics | U.S., Business, World | U.S. Economy, Global Economy, Transportation |
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Editorial
| Submitted by | Submitted by Leo Romero - Nov 23, 2008 - 7:31 AM PST |
| Reviewed by | Leo Romero (review), Justin Michels (review), Fabrice Florin (review), Kenneth Sibbett (review), Robin 'Roblimo' Miller (review), Conrad William Carter (review) |
| Edited by | Leo Romero - Nov 23, 2008 - 7:31 AM PST |
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Quotes
Fabrice Florin shared this quote:
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“We tell others to open up their markets and reduce barriers, and we are doing the opposite.”
David Littmann, economist for the Mackinac Center for Public Policy
Comments
Robin 'Roblimo' Miller wrote:
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We have at least a dozen promising automotive start-ups in the U.S. that are more likely to succeed in developing new automotive technology than the old car companies whose bosses fly to D.C. in their private jets to beg for taxpayer handouts. Let the old companies go, support the new ones. Or -- better yet -- just send ME a few billion to invest in building a better car. I'll spend it making a modular series hybrid with wheel-mounted motors and the simplest, most efficient drive train you ever saw. :)
Justin Michels wrote:
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Subsidies and corporate bailouts are a strange game where nothing seems black-and-white, but if the public is going to help fund these failing corporations then shouldn't this money be spent actually helping the public --and the environment we live in?! Our automakers already have $25 Billion at their disposal, provided they use it to make cleaner-burning, more efficient vehicles. Since that is what we consumers obviously want anyway, why not actually change with the times to meet consumer (and governmental) demand? Better yet, why not give government subsidies to the start-up companies that will take over when these dinosaurs die?
This may sound cruel, but I don't want my tax money going to Brazil, India and all the other countries where the Big 3 have a significant investment; and I also don't want to help foot the bill for CEO's who are completely out of touch with the reality of the situation. If the government insists on spending billions to help re-start the economy, it would be much more productive to help Wind, Solar Flywheel and other technologies currently being developed. And not just wind farms or huge solar arrays, rather focus should be on products like the Helyx vertical-axis turbine and holographic solar collectors which are intended for consumer usage.
Kenneth Sibbett wrote:
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Being prejudice, I can understand why the American worker wants a bail-out. It's hard to make a new product when almost 25% is already spent in health, pension, retirement and a host of other costs. Being a liberal, its hard to talk unions into taking some responsibility for the death-knoll of their own industry, but unless the U.S. can produce a cost productive car soon, we may all be driving Chinese cars.