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Too close to call
A structured bankruptcy would have voided all the union contracts and allowed the factories and intellectual property to go foreword without that burden.
If Obama had been more supportive of the protesters, it would've been very easy for the ruling powers to turn this against them. Public sentiment would have shifted in the favor of the Ayatollah. This is essentially what Khamenei is trying to do right now by blaming the Islamic World's problems on the West.
The less involved we get, the harder it will be for him and others like him to manipulate public sentiment against revolution. Obama's choice to remain quiet was a good one.
The Hindu : News / International : After 28 days, U.S. drones back in action in Pak
This course of action would have likely slowed moving production to Canada, but there are several other countries that GM has production in with much lower standards of living and cheaper labor.
And they didn't get it.
We need to adopt robotic technology that eliminates the need for vast armies of blue collar labor. While individual factories will employ fewer workers, those jobs will pay better, and the technology will spread to other products, increasing manufacturing as a whole.
Breaking up the unions would allow for payrolls to decrease further, but technology is not the issue here.
There's also nothing keeping this same technology from being used in countries with cheaper labor.
We essentially priced ourselves out of competition then paid the difference ourselves.
Last edited by Donahue; 02-21-2011 at 10:52 AM.
Even Reagan would have bailed out GM to some extent, if we can take his actual bailout of Chrysler as historical evidence that bailouts are bipartisan in nature.
Why shouldn't Wall Street take as much risk as possible when we just showed them we'll cover their losses? There are worse things in life than a recession and I think the occasional downturn in the economic cycle promotes more responsible business.