zundel

Tuesday 322

Long-term albatrosses

Filed under: Economy, Politics — Tags: , , — zundel @ am

Good to read Friedman in these times:

On G-20 and GM: Economics, Politics and Social Stability by George Friedman in Stratfor 2008-11-17

short-run solutions can easily become long-term albatrosses.

So, we can bailout the US car manufacturers and spare the economy the consequences of many unemployed workers and devastated suppliers, but thereby we postpone much too long needed improvements in the industry.

I suspect the difficult, wise, and unlikely approach would come in supporting the employees and suppliers, and letting the industry fall-down to an appropriate size. But GM, Ford, Chrysler, and the UAW want to keep as much as they can, and get as much as they can, though it will saddle the US with an obsolete industry. Does anyone lobby for the wise choice?

(I drive a Toyota.)

Advertisements

1 Comment »

  1. Not Obama, unfortunately. I hope he wizens quickly.

    Comment by Altaira — Saturday 326 @ pm


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: