So the big 3 car companies posted 3Q losses in the billions today.
...and what is the next logical step?
Of course, ASK FOR A BAILOUT!!! Auto-makers Top Brass Plead to Congress.
What will that do? Okay, so let's say they get the money. They'll keep workers in Detroit or wherever in jobs for another year, keep making things that people won't buy, until they post more losses and then ask for another bailout.
Somebody explain to me how this is free-market economics? Actually, I know the answer, this is the end result of crony capitalism and backroom deals bred by Reaganomics. The problem is corporations and their lobbyists have become so influential, the collusion has replaced competition and, in turn, innovation is lost.
If I'm Pres-Elect Obama, I would say, "okay, want me to buy those useless cars from you? Nah, I got no more room in the garage. The kids' bikes are in the spot next to the Ford Escape Hybrid. I'll buy some trains from you. I've got a need (aka demand) for some high speed trains. I'm sure the Governator will need some as well since Prop 1a passed. Are you gonna overhaul your plants, keep people in jobs, STAY RELEVANT in the 21st century economy by building commuter trains, high speed trains, modern street cars, so we don't have to buy them from Japanese, French, German, and Swedish companies? I can give you a low-interest loan for that."
In news related to emerging markets in a world of scarcity and enlightened lifestyle choices, St. Billie Motorcycle Company is opening in the ground floor of my building and having a grand opening on Monday from 6 pm to 10 pm with complementary drinks and a $5 raffle for a $1500 scooter. I haven't yet found any info on the web for this company, but thought it worthwhile to mention here.