Let the Auto Makers Go Bankrupt!

[missreason]

It’s hard to let loved ones die. That’s why we waste many billions of
dollars each year, keeping alive the semi-comatose in nursing homes.
So too with the American auto industry. Our beloved General Motors,
Ford, and Chrysler corporations are dying, and President-Elect Obama
and the Democratic Congress want to prolong the agony with a massive
bailout.

Irrationality to the extreme. The Big 3 automakers are NOT dying
because American cars are inferior. Nor are American workers lazy or
incompetent. The basic problem is that the average American auto
employee earns so much more than foreign workers. Unless the American
taxpayer is prepared to spend tens of billions of dollars, every year,
POSSIBLY FOREVER, The Big 3 must be allowed to go bankrupt.

Then the lavish contracts with the United Auto Workers union can be
torn up and redrawn so that American auto companies can compete fairly
with the rest of the world.

This economy is very sick. Irrationally taking money away from
profitable sectors, and pouring it into unprofitable, dying sectors is
not just futile. It threatens to bring down the rest of the economy.

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