Jaguron

The Financials, the Automakers, and the Call That Cramer and All of CNBC Got Wrong

What you don't understand about assisting GM/F/Chrysler is that they are necessary for two reasons. One, they and their suppliers employ such a huge number of people that it would be financial disaster for the United States to allow them to go under. Secondly, if the USA stops building cars and we forfeit all of that manufacturing technology, we could get into a war where we would NEED that manufacturing ability, and not have it. In WWII we converted all the auto plants quickly into making planes and tanks, jeeps and everything else we needed. You close down litterall hundreds of manufacturing plants and throw tens of thousands of workers out to do service work and we will have no manufacturing ability left in this country.