Gag Reflex

Solving the crisis for the U.S. Auto Industry from my humble little home office.

Friends,
The U.S. Auto Industry is about to collapse. Simply put, Americans don't really care. They love their cars but not necessarily American cars. So there is not much enthusiasm in Congress for a bailout. Oddly, they fell all over themselves to give the financial industry, where mostly white collar jobs were threatened, a bailout, but for the U.S. Industrial giants, where mostly blue collar jobs are threatened, they are not so eager. And all the companies are asking for is that $25B of the $700B be apportioned to them. that is approximately 3.6% of the total bailout. I see a white collar vs blue collar bias here.

Here's my solution. Passed it around if you like. I have no real access to Washington or Detroit, but I think if this idea floats, we will get some action.

Go to China. Ask them for a bail out.

It seems perfect to me. If Congress does not come around after you offer yourself to the Chinese, then we deserve to lose our industrial base.

Here's why I think it would work.
1. China has the money. I've heard numbers like three trillion (that's with a "t") is what China holds in reserve for foreign investment. If the offer was serious, Chine can afford it. We can't.
2. China is communist. They will have no trouble with the government running an industry. They might not run it well, but they won't have all these ideological issues we have.
3. Congress, when pushed, will never let it happen.

I'll be interested to hear your comments. (But keep the hateful ones out. My kids read this)

Labels: Solving the crisis for the U.S. Auto Industry from my humble little home office.