*sighs and shakes his head*
ahoy and good morning mateys!
i asked this question musingly just a few weeks ago, but now the whole thing seems to be snowballin'...yet another industry that be too-big-to-fail be needin' a shot in the arm to get through these troubled times.
as i noted in 'nother thread, the current cost 'o the bailouts be 8.5 trillion, once loan and asset guarantees are included.
today, thar be this news....
Quote:
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The steel industry, having entered the recession in the best of health, is emerging as a leading indicator of what lies ahead. As steel production goes — and it is now in collapse — so will go the national economy.
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Quote:
The industry itself is turning to government for orders that, until the September collapse, had come from manufacturers and builders. Its executives are waiting anxiously for details of President-elect Barack Obama’s stimulus plan, and adding their voices to pleas for a huge public investment program — up to $1 trillion over two years — intended to lift demand for steel to build highways, bridges, electric power grids, schools, hospitals, water treatment plants and rapid transit.
“What we are asking,” said Daniel R. DiMicco, chairman and chief executive of the Nucor Corporation, a giant steel maker, “is that our government deal with the worst economic slowdown in our lifetime through a recovery program that has in every provision a ‘buy America’ clause.”
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http://www.nytimes.com/2009/01/02/bu...l.html?_r=1&hp
one trillion dollars is, give or take a 100 billion, around what Social security, medicare and medicaid will cost next year...imma getting confused as to how the government can keep raisin' these vast sums 'o monies.
be thar a limit fer this kinda government help, and eventually can't an arguement be made fer small businesses to get bailouts too? imma not talkin' about anythin' too crazy, maybe a half million each fer all 'o us?
aye?
-MeadHallPirate