1. Unemployment rate at 6.5%
1. Circuit City Bankruptcy
2. DHL layoff
3. Emergency aided need to Auto Industry
Just to name a few. Numbers are not looking good.
What's alarming is this: the trend is every industry is asking the government to help. What happened to Laissez Faire?
For the auto industry: perhaps we should ask why aren't people buying GM, Ford, Chrysler?. If you have friends talking about buying a new car, chances are they are considering Toyota or Honda. AND, their Toyota and Honda are probably built right here in North America. Customers want reliable, fuel-efficient, affordable car. We need a silver-bullet American-made effective hybrid car, in other words, better than the Toyota or Honda built right here in America. Can the American auto industry provide that?
If not, pumping money to a failed industry only hurts more.
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