Americans' "Hypocrisy" in Auto Rescue Spurs Me-Too Trading Ire
A U.S.-triggered spate of global carmaker-bailout proposals may spark trade disputes over whether the Americans are unfairly trying to subsidize their industry or just making up for state aid that foreign rivals already enjoy.
As the U.S. considers a lifeline for its auto companies, officials in Europe, Canada and Asia are considering their own aid packages -- even as the European Union threatens to lodge a complaint against any U.S. bailout to ...
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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.