Will GM be allowed to fail and will it take down the American auto industry?

I've noticed that a few answers on this post actually *want* GM to fail, regardless of the bailout. Or some seem more curious at the possibility than concerned..to those people- I'm biting my tongue to prevent insulting your intelligence.

It's not a simple as the idea that "if they fail they fail". If GM goes under you'd better believe a large part of america will go with it. It's not just the car manufactures that suffer, its the sales industry- its the companies that produce the windshield wipers, the companies that produce the fiberglass, the companies that provide all of the raw materials that GM uses- leather, metals, etc. It's not as simple as 1 auto producer going under, but multiple large corporations that literally drive the american economy.

Picture this: several large auto manufactures go under, as Politico suggested. 10% of the US workforce losing employment = over 15 million people who will not have an income. That's an additional 15 million people who will not purchase goods, or would draw income from the government. Less buying= more inflation, since companies everywhere would try to make up for the lack of sales. More inflation = less buying, since the price of goods would be so high. Less buying = more companies failing = more unemployment = less buying = more inflation = more failing companies = more unemployment = more foreclosures = more failing banks = more unemployment= endless cycle= depression.

...Meaning whether you like it or not, whether you're on the political left or the right, this will effect you and your family.

undoubtedly those on the right are crying "NO BAILOUT! Look how AIG wasted our money!" And they're probably ignoring how the provisions in that bill that awarded "sweeteners" to CEO's were demanded by the Republicans in the House- and they continue to pray and hope for the collapse of a major american industry because in their "me"-centered logic that somehow won't effect them.

Well, it's time we got away from the idea of the "me" economy that the right endorses, and started to focus on the "We" economy. We cannot allow a major American economic cornerstone to crumble before our eyes. This is a time for everyone to sacrifice a bit for our country.

You fail to mention the jobs unrelated to the auto industry that will end if we don't help them. For every car that rolls off the line, 8-10 jobs in other Industries are reliant on it. $50 billion dollars is a drop in the bucket compared to what we will be paying if we let them go under.

Unemployment, pensions, health care, taxes and so on. People have no idea how these three companies impact our economy as a whole. And for the better too. If they are allowed to go under, the negative impact will be devastating.

'Did you get the memo"--- They are the "American" auto industry because they were founded here in America. They built this country and it's middle class.

$75.00 an hour? Not quite. Maybe, if you are talking about working overtime and then sundays and holidays, maybe if we had a holiday every week. Add in benefits, maybe with all of that. But no, thats not quite being truthful.

That is a really tough call.

GM is a huge company that produces a lot of jobs from the guy on the assembly line to the guy fixing the cars at the GM dealer to the guy making a simple nut at Acme Nuts.

What are we to do?

The answer is really much more complex and is tied into this:

Look at the back of a dollar bill

It says Federal Reserve System

How many of you know that system is privately owned?

How many of you know that the Federal Reserve System is controlled by a few banks and a handful of very rich people?

How many of you know that the chairman of the Federal Reserve System is probably the most powerful man on the planet?

The Federal Reserve System controls our money supply

Prints our money

Interest rates

encourages you to be in debt

lends money to our government while you the tax payer are paying interest on that debt.

That our money is not backed by anything tangible, such as gold or silver, but only backed with a promise.

In short, they control just about every aspect of your life, your money, your credit cards, your mortgage, your car loan, student loans, your retirment, etc.

Including having their hands in getting us involved in money making wars.

The smartest thing I ever did was chose to live debt free about 20 years ago. It is amazing how much of our money is eaten up by the Federal Reserve System, and how much more disposable income I had because I made the right choice.

And more information about the federal reserve system:

http://www.apfn.org/apfn/reserve.htm

And this audio from Senator Ron Paul

http://www.apfn.net/pogo/M001I060425193838-RON-PAU...

And video

http://www.youtube.com/watch?v=ji_G0MqAqq8

Other prespectives

http://www.tysknews.com/Depts/Taxes/fed_banking_fr...

http://www.truthusa.org/articles/fed/fedtruth2004....

For more information about this and other important issues, download this:

TVU Player

http://pages.tvunetworks.com/downloads/player.html

Then I would tune into:

Channel 68078

Exposing 9/11, police state and tyranny

Documentaries about 911 and other social issues over and over again.

NO bail out! It will only be another waste of money. These workers make $75 an hour because of the unions and they need to just go into bankruptcy, restructure and come out better and more competitive with foreign auto makers. Americans should not be asked to invest in a failing company.

Will GM be allowed to fail and will it take down the American auto industry?

Let is all pray so.

I don't know, but if they do fail, it will cost america 2.5 million jobs.

The loss of 2.5M jobs will cost america far more than $50B.

The question is, will $50B actually rescue the company? Or are we throwing the money down the toilet to a company that will fail anyway/

Hopefully they will all be allowed to fail. But I must ask, what is the "American auto industry"? Do you count manufacturers like Honda, Toyota, Mercedes, Nissan and Mitsubishi in the "American auto industry"? Or are they simply ignored?

Excuse me? Wasn't Obama and friends that perpetuate the failure in the first place? Does Fannie Mae and Freddie Mac ring a bell with you.....thanks democrats. Thanks also democrats for NAFTA.

Companies should be allowed to fail for the same reason they should be allowed to succeed - for the same reason that the lion should be allowed to kill and eat the weakest, oldest gazelle.

It would be a disaster not to. And yes, I believe we should use the opportunity to require them to make clean, fuel efficient vehicles.