Steve Clemons: Offshoring and the Auto Industry
He that Michael Moore has pointed out: "anyone could buy the entire American auto industry for less than $3 billion -- and U.S. taxpayers are about to pump 5 times that into the uncompetitive sector.
And on top of that -- there is NOTHING in the current outlines of the auto bailout package that requires the auto industry to keep jobs in the U.S. This money can go to help them manage their facilities abroad -- in lower wage countries -- while facilities continue to shut down in the U.S. with jobs shifted overseas."
Wish someone would bail me out of my upside down property and pay me to live well in a cheap place abroad. Maybe then I could afford to buy a new car.