After watching the hearings and reading some economists forecasts I wonder where these experts live. The average Jane knows what it's like to cutback on expenses and see neighbors, family and friends lose jobs and not find new jobs. Gee we are in a recession because the experts have revised their predictions! What a load of crap.
The economy has been getting worse these past 2 years and it's not just oil and China! Our whole way of life has finally caught up with us and predictions that were made back in the 1970's are seeing the light of day.
Great book --China Inc --will open eyes.
I hope Congress can see past their noses and give the Big Three loans to keep business moving. Yes they can certainly cutback on production, models and top execs, rank and file could take some concessions.
If the Big 3 close the ripple effect will be another GREAT DEPRESSION!
Even with the Iraq war we did not see any benefit to economy as WWII brought to the end of the depression. These are different times.
So many suppliers from tool and die, wheel rim makers, tire manufacturers, and all those other parts that make up our vehicles will be dead in the water.
I believe people do like their larger size vehicles and will buy American but there has to jobs and loan money out there to be able to afford it. It's not that we don't trust the auto companies it's that we don't have the money to buy another or replace a current vehicle!
The media must be having a field day with this they can fill the airways with 24/7 speculation.
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