On 20-Nov-2008, "Charles Momsen" wrote:

says US carmaker failure could cut 4% from the GDP. But the cost of a
bailout is no less than 6% of GDP!

No brainer!

Let them go bankrupt!

Agreed, but for a different reason -

1) The fallout would be 4 or 5 to one in support industries and services,
but who cares, we can all work at Walmart for minimum wage!

2) All production firms in the U.S. MUST move to low cost third world
countries for survival and export to the US - their only onbigation is to
the stockholders. The U.S. marketplace will have the economic viability of
Peru in a year or two but red China, India, South America are on the rise.
GM overseas will survive well.

This collpase has been in the making for 25 years and is due. GM, Ford, etc.
MUST offer vehicles in the U.S. in the same way as Toyota, Honda, etc.,
i.e., by doing final assy. in the U.S. and calling it an "American made"
vehicle. Americans are really gullible; if they believe that with Toyota,
why not GM? The market will adjust in product to suit the resulting economy.
(likley shoddy Chinese bicycles) "Americans" deserve no better any way -
they created the debacle.