Wednesday, November 19, 2008

No Bailout

No bailout, not now, not never. But I guess it is the time of the year for economic giveaways of taxpayers monies. This time the big, bad auto industry is calling it quits without $75, no make it $50, no-how about a mere $25 billion to help support its poor production and management decisions. Did the Big Three ever hear about cutting costs and making its plants more efficient? Did they realize that they should not pay employees who do not work and or give them a lifetime pension equal to their regular salary? Did they realize that they need to actually improve their product so that auto consumers would actually buy the car or truck? In my economic opinion they should go bankrupt and allow for a major market correction to take place as it should have in the finance industry. It is obvious that what they did 50years ago is not working today and that consumer demand is much different than it was back then. I personally feel that automobile consumers are sick of the lies that they were fed by the Big Three, the hassle to buy a vehicle, the hassle of it breaking down, the high cost of repairs, etc.
Taxpayers should be strongly against this new form of corporate welfarism which will ultimately lead to higher taxes and more poor economic decisions.

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