Auto company execs had to be biting their tongues when they were on Capitol Hill to plead for their mere survival.
Their fates resting in the hands of Congress, I watched the smug congressmen and later the senators take their shots. The execs were criticized for their poor management, flying up the first time in corporate jets, having huge legacy costs, and being out of touch with what customers want to drive. The whole time the execs humbly sat there and took it.
The problem is, the same group that berated the auto execs could have passed regulations that could have prevented the whole financial meltdown. The government's legacy costs include the national debt, Social Security, government pensions -- not to mention a yearly budget deficit approaching $1 trillion dollars. That includes the $350 billion bailout earmarked for the financial industry, granted with little constraints, that was supposed to provide the liquidity that would have normally provided bridge loans to the auto companies. Instead, the banks are too busy pumping up their balance sheets and trying to change the accounting standards.
If my history is right, the way we got out of the last depression was WWII, and we may need the manufacturing capacity for the next war effort.
Don Coulter, Augusta
Comments
So what are you proposing? Another WORLD WAR so everybody can have a big screen T.V. and more house than they need or can afford? If so,your spiritual compass is way off course!! Let survival of the fittest apply. If the Big 3 fail,the others get stronger and hire alot of the laid-off workers. that's the way it is supposed to work.
The reason WWII is noted as the end of the Great Depression is because the fed government was too busy to "help" the general population any more and it was able to recover economically. As soon as the current government stops "helping", the economy will begin to recover. Let capitalism work. Government interference precipitated this fall, only the cessation of interference will allow it to regain its footing.
Make able bodied people work. No more free rides for lazy drug addicts.
I think Don was simply making a point ... and a good one, not proposing any more war. The mis-management of OUR money by people who will pontificate to executives on why they have a failing business is laughable at best. Their business .... operating this country is a travesty. Washington, DC ... the land of hypocrites!
I agree with RUFUS and would add that employers shouldn't be forced to pay MINIMUM WAGES, in fact they should be able to pay anything they want. In fact if people aren't working or working hard enough we need to put them in jail. And their wives and kids need to work until the sorry non worker learns his lesson. Once out of jail they need to work for 1 year at, lets see, how about $2.00 an hour, until they learn better work habbits. And these drug addicts should be eleminated from society, I'am sure Rufus would volunteer to pull the trigger on them, wouldn't you Rufus? Bottom line is Rufus needs to read a little about the chain gandgs of the Georgia prison system back in the 20s and 30s. BTW RUFUS where are all these well paying jobs at in Augusta?
Rufus, did you ever get your check??
Dissman I remember the chain gangs well. I watched them work their azzes off cleaning ditches and water ways and other great out doors jobs. We didn't have near the crime then as we do now. Just think Diss, how effective a chain gang experience would be in getting those dope heads off of drugs. BTW, if able bodied and ain't working, go hungry. Guerantee they will find a job.
Coulter is spot on.
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