I am curious about this whole governmental bailout of Detroit. What do my readers think of this? Certainly, you could argue that the Big 3 have had troubles long ago and, as a friend of mine pointed out, what is different this time?
Common sense screams 'No'! The unfortunate outcome is that unemployment spikes by approximately 1%, more people are on the unemployement line (which equals tax dollars to support them). Yet, I really feel for the individuals that will be effected by this. Certainly demand in the US doesn't stop for cars (rental agencies, taxi companies, bus companies, police and governmental vehicles, etc.). So, I would imagine that even if the companies did declare bankruptcy, some if not many of the jobs would be absorbed by the new entity formed.
Its economically ugly out there but I have found when things are bad, thats when God really does his greatest work within each of us.
Grace & Peace
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