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Reply #8: That's the real problem with the bail-out. [View All]

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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 01:26 AM
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8. That's the real problem with the bail-out.
If the companies lacked capital because of the stock market alone, the bail-out would be the answer. But the companies lack capital because nobody has the money to buy their cars. So, until the whole country gets on its feet, the money invested in helping the car companies, however well meant, will not make a difference. There will just be a lot of cars on the market and no buyers. The UAW workers will keep their jobs until the glut of unsold cars is just so great that it becomes obvious that the bail-out did not resolve the fundamental problem.

And what is the fundamental problem? The outsourcing of American industrial and high-tech jobs and the corresponding reliance on service jobs to keep the economy going. It just does not work. We have to have clean energy to fuel clean industry. That's the only way to get our economy back and working. The automobile industry is a part of the clean energy solution, but it is only a small part of that solution. Obama needs to go ahead with the strategy he announced during the election campaign -- invest in alternative energy and building a grid that can accommodate energy from different sources, wind, solar, the ocean, oil, coal and everything as long as it is clean and safe.
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