End The Bailouts
City of Lansing Michigan’s Mayor, Virg Bernero, has some muddled thinking on how the auto industry should be dealt with regarding bailout money. He doesn’t seem to understand that the money comes from the people.
Here is his email address: mayor@ci.lansing.mi.us
Feel free to correct him
Here is a youtube video courtesy of the Campaign for Liberty in which Peter Schiff attempts to inform Virg on a few key issues.
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Wait, wait, wait, before we start singing the praises of the foreign auto makers being so in tuned with the needs and wants of the American public, understand the conditions of the auto industry.
We the American people have as much to do with the auto makes being in this mess as they do. We requested Hummers, Suburbans, Tahoes, Escalades and F-150s, not GM, Ford and Chrysler. Don’t get me wrong it would have been nice for some CEO making millions of dollars a year to figure out that $1.25 a gallon gas wasn’t going to last forever but neither did the American consumer who purchased these gas guzzling vehicles.
Foreign auto makers aren’t the Nostradamus of the manufacturing world they just happen to produce in counties where the streets are only 8 feet wide and gas has averaged 5 buck a gallon for as long as the population can remember. Just as our auto makers gave us what we wanted (econ. 101 supply and demand) and then got caught off guard when gas prices spiked, foreign auto makers happened to have a product that fit a niche Americans requested over night. If I’m going to give my tax money to bail people out I just as soon have it go to companies that employ a lot of blue collar workers rather than fatten the pocket of a lot of white collar workers. But that’s just me.