[Prog Rocker]

From what I just heard today, it looks like the Congress is going to let the car makers slide. If they do, there will be bread lines on the street in 90 days. If they let the car makers go, there will be hell to pay.

While we might be able to absorb the financial collapse of just one of the Big Three domestic auto makers, he is right: a total financial collapse of the U.S. auto industry would have an incalculable ripple effect on the overall economy. About 1 in 10 U.S. jobs are in the auto industry or one of the industries supporting it. So, using "fuzzy math", that would be potentially an additional ten percent unemployment on top of the existing unemployment figure. Not at all encouraging.

Keep a close eye on the new democratic president and his mostly democratic Congress. That's a job I wouldn't want, especially with no experience.

It doesn't matter in the long run who won the Presidential race...whomever it was going to be was going to inherit a nightmare. What I don't understand is how so many people are looking to President-elect Obama to single-handedly "deliver us from evil". Talk about a messiah complex! In the end, Obama is just a man who will certainly do his best, but the expectations set upon him by the public at large are so profoundly unrealistic, there will be many, many people in four to eight years who are going to be just a profoundly disappointed and disillusioned. I just pray that I am wrong.




Cheers

 

[Prog Rocker]

As long as they don't take the corperate jet to DC. with their hand out

That's just the problem, Jim....they did.

What do you think it cost their companies to fly from the Detroit area to Washington, D.C. just one-way using the corporate jets? The cost of the fuel alone must be staggering!

It would have been far, far cheaper for them to fly commercial. Even in first-class it would have been a huge cost savings!

That being said, I doubt we would ever see the CEO of one of the Big Three auto makers flying coach on a commercial flight...but if things keep going the way they are, they will not have a choice!



Cheers