So to preface this post, I’d like to first state that I am not an economist. I don’t purport to have knowledge of all salient facts regarding a potential Detroit bailout. However, after absorbing as much publicly-available information as I could gather, I have come to a conclusion that puts me at odds with the party with which I most identify.
Granted, I don’t entirely understand the consequences that could occur should the Big 3 fail. However, the Big 3 crisis does not appear to be as significant as the crisis that affected Wall Street generally. I understand that may not ring well with those directly affected by a Big 3 bankruptcy, but here goes. A few basic premises:
- Big 3 cars suck. Yes, there’s a reason people buy foreign vehicles. It’s not because they are “anti-American.” It’s because, for years, the Big 3 have rested on their laurels that Americans would buy American for the sake of buying American. Well, despite all the signs pointing against this foolish thought, the Big 3 continued to produce crappy vehicles with shitty performance, shitty reliability, and shitty safety standards.
- There has been no indication that the Big 3 executives will use bailout money to completely turn around their crappy product. Here’s where I get hung up on the idea of giving the Big 3 any type of a bailout. They’ve been ignoring signs for years. They’ve lobbied heavily against innovation and environmentally-friendly standards. Screw them.
- If the Big 3 were to fail, wouldn’t principles of capitalism suggest that another company, with better management and better product, would swoop in and take over the Big 3 infrastructure? I have to think that an entrepreneurial entity would come in, take over Big 3 infrastructure, employ former Big 3 employees, and ultimately make a better product.
Ultimately, I don’t think the bailout will render the product made by the Big 3 fit to purchase. After years of thinking something sucks ass, getting money from the federal government will not make great strides in reversing that general belief.
I’m now rambling and need more info. In any event, with or without a bailout, I will never purchase a Big 3 vehicle. After driving a rental Ford around all summer a few years ago, only to have a couple knobs fall off in the interim, there’s no way in hell I would purchase one of these clunky pieces of gas-guzzling pieces of crap. That’s my two cents.