I'm Confused...
Nov. 26th, 2008 11:51 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
rsmit212Perhaps someone can explain to me the reasoning behind saving Citigroup, who employs roughly 300,000 people and has pretty much ZERO actual assets (here, yet we're going to let the Big 3, who employ more, tank. (Ford 300,000 employees here; DaimlerChrysler 382,724 here; General Motors 335,000 here) They also have factories and actual inventories and other assets. This does not include the many more who are employed to support the Big 3, from parts manufacturers to steel refineries, to the restaurants/grocery stores near the factories. Dentists, doctors, lawyers all are going to take a hit as people will not have the money to hire them. Tens of millions will be directly affected by letting the Big 3 crumble. Yes, I live in Michigan which will be the epicenter of the collapse, but they are worldwide. Canada, Japan and Mexico will lose as well, further depressing their economies. Germany, Italy and Spain all have major companies that supply the Big 3. EVERYONE will be affected.
Yet another bank is going to be bailed out of rampant greed which supplies nothing for anyone except the rich. This is ass-backwards.
Don't try to excuse it with "but they didn't give us what we wanted!" Bullshit. They sold what people bought. If people had bought cars based on fuel economy, it would have gotten better. People buy SUV's. I see far more advertising for the cars and such (except the trucks, but that's a niche market that will NEVER go away. Fleets and work folks need them.) Yet the number one sellers are trucks and SUV's. The average consumer doesn't want small fuel efficient cars, or they would have bought the ones offered. Yes, I do own a Ford Escape. I often drive my immediate family around for holidays and dinners, etc. 5 adults. My Escape was the most fuel efficient option available that I could AFFORD at the time. I didn't go for the Escalade or the Excursion, didn't need that big. Other companies just didn't have a vehicle that felt right for the money I had. Yes, the mid-80's vehicles sucked. That was fixed in the early 90's. They've been putting out quality vehicles for quite some time.
I'm not saying things should go on as normal either. Things have to change and EVERY business needs to look at being restructured. Business as usual CANNOT continue. Greed CANNOT be the sole consideration in business any longer. But what does Citigroup supply us that is more vital than millions of jobs?
Now, what I'd suggest is let Citigroup and Chrysler fail. Yes, I mean fail. No bail out, no bankruptcy protection. This is the second failure of Chrysler (remember?), let it die. Let Citigropup die and be absorbed by the other banks in pieces. Help Ford and GM in a controlled way, not a blank check, but keep them working. Workers having jobs keeps grocery stores in business, mortgages being paid and dun-dun-DUNNNN, cars being bought.
I'd also suggest we start taxing ALL products coming into the country, no matter what company owns them. This will bring manufacturing jobs back into the country. Get us back to work.
That's it for now. Will continue in other posts as things crop up.
Yet another bank is going to be bailed out of rampant greed which supplies nothing for anyone except the rich. This is ass-backwards.
Don't try to excuse it with "but they didn't give us what we wanted!" Bullshit. They sold what people bought. If people had bought cars based on fuel economy, it would have gotten better. People buy SUV's. I see far more advertising for the cars and such (except the trucks, but that's a niche market that will NEVER go away. Fleets and work folks need them.) Yet the number one sellers are trucks and SUV's. The average consumer doesn't want small fuel efficient cars, or they would have bought the ones offered. Yes, I do own a Ford Escape. I often drive my immediate family around for holidays and dinners, etc. 5 adults. My Escape was the most fuel efficient option available that I could AFFORD at the time. I didn't go for the Escalade or the Excursion, didn't need that big. Other companies just didn't have a vehicle that felt right for the money I had. Yes, the mid-80's vehicles sucked. That was fixed in the early 90's. They've been putting out quality vehicles for quite some time.
I'm not saying things should go on as normal either. Things have to change and EVERY business needs to look at being restructured. Business as usual CANNOT continue. Greed CANNOT be the sole consideration in business any longer. But what does Citigroup supply us that is more vital than millions of jobs?
Now, what I'd suggest is let Citigroup and Chrysler fail. Yes, I mean fail. No bail out, no bankruptcy protection. This is the second failure of Chrysler (remember?), let it die. Let Citigropup die and be absorbed by the other banks in pieces. Help Ford and GM in a controlled way, not a blank check, but keep them working. Workers having jobs keeps grocery stores in business, mortgages being paid and dun-dun-DUNNNN, cars being bought.
I'd also suggest we start taxing ALL products coming into the country, no matter what company owns them. This will bring manufacturing jobs back into the country. Get us back to work.
That's it for now. Will continue in other posts as things crop up.
