Can the GM & Chrysler subsidies totally destabilize & bankrupt the auto industry?

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lucky_lenny_1964

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Talk about "unintended consequences," wait until GM & Chrysler use their $20+ billion of taxpayer money to continue selling below cost. In effect, GM & Chrysler w/be dumping their product on the US & World markets below cost. Driving competitors to scale back R&D; cut back production; & possibly go out of business themselves. The same way FDR & the Democrats caused Great Depression; we're doing the same now. These bailouts sound just like FDR's National Industrial Recovery Act of 1933. In the meantime, I urge everyone to hold off buying GM & Chrysler cars. There's way too much production capacity in the auto sector. All the taxpayer bailouts are only going to make it worse.
 
Of course it won't work. It's the same as trying to prop up the oil lamp industry after the widespread use of electric lights.

The automakers will just continue to suck down more money every few months. And each time they'll whine about their "need" and how much worse this recession was than they had predicted.

This is a time of crisis, but instead of spending on things that make it better our masters in DC are wasting precious recourses on things that make it worse.
 
Subsidies will be good if they keep the Factories in US but they move a big piece of them to cheap labor countries and at that time they did not thinks or care about American Labor or unemployment. They speculate at stock exchange (Fraud Street) .And now they are crying for help ??? Do not save them, they have money (hidden)
 
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