trikkonceptz -
I am in favor of the bailout. It's chump-change compared to the Wall Street bailout. I would also forgive the loan if they failed to pay up.
As far as I am concerned, the game has been rigged against you and me for a longggggggggggg time :
Detroit: A Riposte to the Bashers
http://www.unsustainable.org/index.a...e&contentID=39
Quote:
The elephant in the room is unfair foreign trade practices. Though you would never know it from recent reporting, for forty years the Detroit companies have been systematically undermined by foreign competitors' predatory pricing in the American market. They have been thereby starved of the adequate returns necessary to invest in new, more efficient production technologies.
The Japanese in particular have used unfair trade practices to devastating effect. On the one hand they have kept their home market as a protected sanctuary, where, operating in cartel fashion and free from effective foreign competition, they have generally garnered superrich profits. These profits have been the ultimate source of the massive investments in both manufacturing technology and R & D that have enabled the Japanese to pull far ahead of the American industry in recent decades. Meanwhile teh Japanese have kept the American competition pinned down in the American market by selling at little more than marginal cost.
All Japanese government denials to the contrary, the Japanese domestic market has always been heavily protected. Thus the high pricing there has been reserved for Japanese producers. Two German manufacturers, Mercedes-Benz and BMW, enjoy token positions at the top end but have been strictly boxed in to ensure that for more than two decades the combined share of all foreign makers has been kept to a mere 4 percent. ...
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I hate the USA-CEO culture, but I think they have been shaped by the short-term-profit requirements of that very same Wall Street that has just soaked us for a cool $700 billion.
CarloSW2