The Big Three auto makers need a new moniker. I say they be called "The Three Beggars." They are burning cash at rate of about $6BN a month. They are asking for another 25$BN. It would be folly to lend to them. Mitt Romney is correct, the government should not reward business failures. They have had decades to change. They haven't. I recently rented a 2007 Ford Mustang. It sucked. It reminded me of a cheapened knock off version of the classic 66 Mustang. The style and design principals have not changed in 42 years, but they did swap out the real chrome dash trim for plastic. Guess that's progess.
. It doesn't. Deep throaty engine rumblings are out of style. Hi-tech hi-rpm engine whining is in. The cockpit stylings that made the 66 Mustang cool: 'visor' dash, horizontal rectangular wind shield, 'chrome' finish, round vents, etc. are out. Bubbly wind shields with greater visibility and dash stylings that understand the human driver are in.
Currently, the amount of our economy generated by the government in general is about 30%. In 1929 it was about 6%. One of the things keeping our economy heading for 25% unemployment that was around during the Great Depression is this fact: government employment and spending tends to be insulated from the ups and downs of the economy, except on the tax receipts side.
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