The Canadian government is set to inject just under $3 billion into the obsolete heaps of capital otherwise known as GM, Ford and Chrysler, pending of course, the US government does their part with a 14 billion large IV, which, was rejected for reasons unknown to man last week. A report released by Canada's Ministry of Economic Development projects that the failure of these 3 behemoths would cost Canada 600,000 jobs --almost all within Ontario-- sort of justifying what could easily be interpreted as completely unnecessary ass kissing. What's troubling though...
...is that automakers in China have seen no need to beg their government for "change." In fact, former world's richest man Warren Buffet, invested himself to the tune of $230 million for 10% of BYD as recently as September. The difference? BYD is pumping out hybrid vehicles and generating 60% more revenue over last year. Fittingly so, North American vehicle demand is only 60% of what it was last year. But as we have learned too many times over the last couple years, this sort of tragic ending is exactly what happens when you artificially create, and maintain, demand for a product.
With the suburbia-inspired real estate crash, and its symbiotic brother, the financial crisis, serving as precursors and pulleys to the impending doom of corporations unimaginably large, one wonders if the fallout will finally focus the spotlight on the practices that have led us to this point. As this extremely interesting article points out, ridding America of public transportation is only the tip of the iceberg of achievements accredited to the geniuses employed by the American auto-industry. And that's not even mentioning employing Freudian psychoanalytical methods as marketing tools.
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