GM and Chrysler need more
GM and Chrysler are now asking for about $30 billion more, which they claim is necessary to their survival. Does anyone see anything wrong with this? What have these two companies done in the past few months? They have again failed at selling their product and they are back again asking Uncle Sam to give them the money instead.
The free market capitalists and even Congress were against the first automaker bailout, but it was passed anyway by simply taking the money out of TARP. We don’t have TARP this time around, so what’s next, taking it out of the stimulus plan? It wouldn’t surprise me at this point.
We are really in a sad state of affairs. The Keynesians continue to push their irresponsible logic by trying to make sympathy pleas and not looking at the whole picture. We are rewarding failure and if we don’t stop the whole system will come crashing down. They didn’t realize that the auto bailout was bad the first time around, but hopefully they will have some sense this time (I am not holding my breath though.) They need to really think about it before just throwing money here and there. These companies failed- let them go under.
While GM and Chrysler were burning through government funds, not doing anything productive, and continuing their feud with the naive and greedy UAW, their counterparts continued on. Who says that since a company isn’t American that they won’t help America? The superior competitors of the American automakers do care about the American market as they sell and produce here as well. Many big foreign automakers, including Toyota, Hyundai, and Honda have plants in this country as well. Thousands of Americans are employed by these plants and letting GM and Chrysler finally go under will open up more jobs in those plants as the companies over the market of the “Big Three.” This is not an anti-American thought. In fact, in many ways it is a pro-American thought as the roots of this nation are wrapped around the ideas of capitalism and the failing companies going under is capitalism.
1 Comment »
Apr 22 2009 at 4:54 pm
$30 million dollars is such a big amount eh?.. i don’t think this is a good money to invest for today’s economy but this can surely help a lot of people if you invest a company now. but you can never be sure that your company will boom because of the global crisis now. (www.kika.ca)