No, I'm not referring the 1982 Cheech & Chong movie of the same name, although the sentiment is the same. What really torques me is how the US government is handling the recession. Bailing out insurance and automobile corporations isn't the solution. The solution is tough, but it's the only solution which will have a long term benefit for everyone involved. Welcome to my rant.
The American Automobile Industry
The big wheels of the US auto makers are whining and seeking a government bailout. A handout is more like it. It will probably happen, knowing the wimps we elected to serve the country.
I've heard and read so much rhetoric about all this that I'm sick to my stomach. Thousands of people will be out of a job. The economy will collapse. Blah blah blah.
I'm willing to bet the foreign auto makers, with factories in the US, would be able to absorb most of the employees canned as the result of reorganization or failure of the US auto industry. If not, oh well. I'm sure they'll find employment elsewhere.
Economic Greed
Greed is the real reason the recession started in the first place. Greed fuels economies and destroys them as well.
Stupidity is another factor. The US automotive industry has had more than 30 years, since the OPEC wake up call in the 1970s, to make better vehicles. It took the invasion of foreign cars, mostly Japanese, to make them start working on more fuel-efficient vehicles.
What happened? In 1998, before I retired from the military, I read an article in Popular Mechanics that spoke of how some California law would require zero-emission cars by 2004. Hydrogen fuel was supposed to be the solution. Well, it's 10 years later and where are these zero-emission cars that run on hydrogen?
They got greedier than usual and lazier than usual. They've been milking the system for as long as they can get away with it.
Economic Stimulus Packages
President Bush pushed two packages through in an 8-year period. President-Elect Obama is planning on pushing another one through.
These stimulus packages don't do a heck of lot for the average American, but they kiss the royal asses of the businesses and keep them afloat. They don't need to stay afloat!
We Needed a Recession
Recessions are a good thing. They're not good for employment obviously, but why are people whining? The US has had one of the lowest unemployment rates in the world. People should spend some time in places like where I live, with an unemployment rate of more than 50 percent.
Recessions weed out the companies that shouldn't be in business in the first place. If companies can't maintain the process of continuous improvement, instead of continuous profit, they deserve to die a quick and merciless death.
There you have it. The only solution to the problems faced by companies during the recession is to let them figure out for themselves how to survive the recession or die.
Sure, things are tough all over. It isn't the first time and it won't be the last. The government needs to stop giving away the taxpayers' money. After all, it's our money.
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This article is published as: The Economic Recession – Things Are Tough All Over
Great post. I've been thinking about this some time now and I think I'm going to have to find an article about it somewhere but what's the point in rich people getting richer, especially if they have enough money to last them TWO lifetimes. I'm a little fearful about the recession not because of the lack of jobs, but the possibility that people will step over one another to make sure they have nothing to worry about. No more bailouts is needed, we need to stop putting taxpayer's money into things that are failing.
As what is happening right now. I think I have heard some people that says whenever America goes down, the whole world goes down with it. :(
That's why this recession is too much for us. All are affected by this crisis….
My latest blog post: The Infiniti Essence Concept
If a company isn't competitive, let it die.
That said, don't let foreign countries who charge .10 an hour for labor to bring in foreign-made goods without some kind of balancing tariff.
Balance the tariffs with the cost of labor in that country. Should make things a bit more fair. If other countries don't get on board, slap em a bit and start a trade war.
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Great Article, people believe that with a recession money EXPLODES, but it simply comes back to its "rightful" owners.
and they will use it to gain great capital in the next expansion
I'm a little fearful about the recession not because of the lack of jobs, but the possibility that people will step over one another to make sure they have nothing to worry about. I'm pained to say however that when it came to bailing out the banks there was no alternative. If they hadn't and the banks had gone bankrupt then all the sensible, profitable and elder generation would have suffered terribly because life savings would have been lost.
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