Cafferty: Will Loss of Auto Makers Lead to a Depression?

[EMUmonster]

had they not bailed out Chrysler or GM it would have such a devestating effect on Michigan and the entire us. The US would have been hurt worse than the housing crisis, but Michigan would have been a one state depression. Im glad they bailed out the big 3. I live in Michigan in metro Detroit, and had they not bailed us out the unemployment rate would have been so bad here. Its already bad but there would be robbings and shootings daily. So many people would have been out of a job.

[njattack]

It will NOT bring about a depression.

It will benefit the American people & country as a whole. Currently, these 3 auto companies are corrupt and anti-American. They are trying to destroy the solidarity of the U.S. and they discriminate against white Americans. The communist controlled UAW labor is being paid twice that of any other auto company.

Bankruptcy is the only feasible and correct solution.

[roamershaker]

remember the chevy VEGA,,..,lol

[roamershaker]

welcome to my world ... lol;.;.maybe these auto workers will work for 16$ or so, like i did for 35 years as a carpenter;. at times with no insurance ;.;. maybe they can bail me out;.;.lol

[rumpole33]

that $34B can buy up the stock of all 3 co.s. anyways, even if the money was given to them, they would still close down factories/parts mftrg facilities here in the US & open them up in mexico. if they were really serious about endearing themselves to the amrcn public(not just selling 1 corp jet here & there), they would have offered to close down most of their foreign factories/parts mnftcrs & do at least 75% of their production in the US in order to hire as many americans as possible.

[neverine2000]

I am ashamed of those car companies for getting into this kind of mess...

We should let them go under, I bet they will be bought out by someone, and our money would be better spent helping start up companies that actually have a vision for new technology.

We built "the bomb" in 2 years, we landed on the moon, we make food that has shelf life for years, we make dolls that are so life-like that we can f3@k them... why can't we build a damn car better than the Japanese?

[waltermh111]

alot of smart letters read there.

Hopefuly congress skepticism right now abotu the bailout keeps up because they listened to their constituants.

If the gov gets involved at all I think nationalisation or partial ownership is preferable to a straight bailout that lets the same old leaders run the place.

The gov will never be paid back its loans anyway. Why dont we instead buy a say in where the future of the industry should go for the betterment of us all.

[phildog67]

The U.S. wont be a happy place until it Manufactures none of its own goods & has 2 import everything,sending the U.S. dollar only in2 other countries economies and circulating none of its own revenues, this is much like the trend the U.S. has been on in losing jobs instead of increasing to pop. adjust. The U.S. is trickling down jack shit & pissing away evrything. Besides these Auto factoriesa matter of National Security, The only thing the U.S. has been exporting is JOBS!!!

[d3v07]

They report news on the opinions of viewers. What the hell is this bullshit?

[neverine2000]

So the opinion of viewer's doen't matter.... hello, you are a viewer too....

[overmind25]

There is no magic fix. Those in the state have no magic powers. Let the market (the producers and consumers equilibrium) adjust.

[dougalsii]

Out with the old in with the new. Repossess the companies' property and offer it to new, promising industries before they go completely under and take everyone with them. It's perfectly fine for the government to repossess MY property when I'm behind on payments. The only other sensible solution would be for the workers themselves to rise up and seize the means of production.

Why is it never called Class-Warfare when the money of the middle and lower classes is redistributed to the wealthy?

[Itsnotthisitsnotthat]

A depression is inevitable, and our standard of living has to go down, we just need to live with that for a while. This is what we get for borrowing trillions of dollars over the years and only consuming with it. Price Fixing and bailing companies out is only going to make things worse. It's also destroying the dollar and whatevers left of it. The best thing we can do now is let these companies get liquidated and have the market adjust like Ron Paul is advocating.

[PUGS1688]

Paul would have mad an outstanding president...it's a shame the public is so stupid

[egrimnes]

The public is not stupid for not voting for Ron Paul, he didn't do a convincing enough job of swaying the average voter. He like to point fingers alot.... I would love to see him get down and dirty and actually do something. All I here from him is a lot of talk. What he says at times makes sense, but again... it is only talk.

[johnedwards1968]

I'm tired of hearing about Ron Paul. He's just another damn Friedmanite neoconservative. Tell me how EVEN MORE laissez-faire economics would make this situation better????