So on the way home last night I was listening to NPR as I usually do and some gasbag was saying that if we let the Big Three automakers go under, that will also hurt the entire supply chain, which is huge, and that in turn will drag down the foreign makers who build cars here.
And this utter idiocy was left unchallenged by the journalist. Where the fuck do they get journalists these days?
One of the things that has steamed me up the most since I became a grownup and got a job in a real industry is that the major forces driving this world -- the making of policy and the analysis and reporting of same -- is left to lawyers and journalists and the occasional retired college professor. People in other words with no real understanding of how A leads to B leads to C. And so we are getting fuckeder and fuckeder every passing year.
Don't get me wrong. If GM and Chrysler go into bankruptcy, that will be very bad. The ripples will tsunami across the landscape and tear vast holes in the banks and houses and factories and everything else in the way. But the pain will be relatively short-lived -- a few years maybe -- as what's left of industry downsizes and retools and reconfigures and starts hiring again (
here's an example of the sort of brilliance GM's failure will make room for). In contrast how the fuck long will the country be burdened with the unintended consequences of an unimaginably huge bailout? We'll essentially be rewarding an old-line 20th Century industry for fucking around in their old-line 20th Century way. They'll forget the scare and go back and do things the same way. Well, except for the oversight provided by, ahem, Congress. If you think that will help, omigod, go rent a brain, will you? Try it out, see if you like it.
I also recall hearing of a contention by the Ford guy, who doesn't really NEED the money, that if the other two go down, then he will need some money too. Well, a) no fucking duh, as CEO he owes it to his stockholders and employees to see to it that a gift given to their competitors comes to them as well, and yet otherwise b) that's bullshit, because it will not only mean he suddenly has a less competitive market to play in but a shitload of experienced and desperate auto workers and cut-rate factories available to go play in it with. Sounds like good times to me.
Did I mention auto workers? Oh, those poor fuckers. It took me two degrees and ten years of experience to make a salary comparable to your average union quarter panel installer and U-joint adjuster. Maybe twenty, I don't know. Fuck em. A major reason we're in this mess -- not the short term mess created by those creative wizards on Wall St but the longer term mess of steadily decreasing American industrial output and the massive strategic and economic Damocletian sword it represents -- is that the rest of the world is finally starting to catch the gravy train we leapt aboard after WWII, and our workers just aren't worth as much more than the rest of the world's as they used to be.
Oo, what a sentence. What meant: As the competing ladders of economic growth lurch upwards, lower costs elsewhere make our workers' entitlements unaffordable. That goes double for the non-workers' entitlements, but I'm not getting into the welfare state today. Seems a bad time of year for that particular rant.
But it is a good time of year for redemption. I offer a case in point, the lovely and talented Carly Fiorina, who lost her job after flying H-P a little too close to the ground but today has some good things to say about the auto company bailout:
CEOs seeking bailouts should be willing to resign.