Buying American

In Counterpunch, Saul Landau blasts the leaders of the auto industry:

[I]n recent years, the auto bosses have behaved like the Wall Street idiots and other titans who directed the US economy straight into the toilet. They made stupid decisions, rewarded themselves with high salaries, bonuses, perks and stock options and sneered at critics who warned that by continuing to emphasize SUVs and Hummers and not try to make a car for the times, they would lose their traditional markets. Eventually, even the stupidest Americans learned that “buying American” meant owning a gas guzzling, road destroying, environment polluting collage of heavy metal and cheap plastic. Furthermore, it would break down far more rapidly than the much demeaned but more gas efficient and environmentally friendly cars.

“Can you imagine these jerks coming to Congress, not to plead their case and admitting they were terrible managers, but we shouldn’t worry because they’ll do better in the future?” an irate House Member confided to me. “These multimillionaire losers walked in here with a sense of total entitlement! As if they had earned our infinite respect because they led GM, Ford and Chrysler. I hope someone gives them the news. They’re not number one any more.”

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Look how quickly the mavens of free market economics abandoned their prized dogmas. Those who demanded bailouts of Wall Street and now the car industry had steadfastly demanded deregulation so the invisible hand of the market could govern their business dealings. As soon as business got really bad, they came like indignant beggars to demand government help for financial and manufacturing business they had run into the ground.

Instead of simply taking over the financial and manufacturing areas, the government seems intent on lending taxpayer money to these arrogant airheads -- because liberals in Congress want to forestall more huge job losses. But cars had their century – 20th. This century’s environment has sent dire warning signs about continuing to employ technology that relies on fossil fuels and causes insane highway congestion, noise pollution and death.