DISQUS

D. E.Rodriguez · 1 year ago

Great, touching piece, Dr. E. and just hoping that somehow "it can all be turned around," for all those salt of the earth people.

Dorian

mikkel · 1 year ago

Your description of the downfall of Studebaker sounds like the whole country now.

I am a big thinker (if you haven't noticed) and it's frustrating for me to not know how to help in a way that feels productive for me. I make a pittance but I've sent a lot through Kiva to people that need loans in developing countries because they have a clear mindset of what they want to do and it works to invigorate whole villages. On the other hand I've volunteered time collecting for the food bank and while I know that I'm helping someone, it just doesn't give me the same satisfaction because I feel like it is just a stopgap and all the larger forces are making things worse faster than I'm helping to make better. I know that people with different personalities that have a more personal connection feel differently and don't mind volunteering in that way, but I just can't get into it.

On the other hand, I am thinking about quitting my job and working full time trying to help shape policies in a way that will help the country as a whole. I just am loathe because I really want to stay clear of politics.

DLS · 1 year ago

Actually, the downfall of Studebaker would not be repeated here. For one thing, we now have the PBGC, and though a taxpayer bailout would likely be needed and we ought to reduce all benefit payments to all beneficaries if a bailout were needed, the auto makers can terminate their pension plans and give them to the PBGC. Second, the Detroit auto makers' failure would not be any kind of catastrophe, as they are far from being all of "the" industry in the USA (indeed, they are held in low regard by the public) and the "three million jobs lost" figure, already debunked by at least one economist as "laughable," is mere hype. The truth is far less distressing than that.


"In fact, the maximum impact if the entire automobile industry in the US were to shut down completely and permanently would be 190,000 jobs in auto manufacturing and 540,000 other jobs throughout the economy. 'And only about 60 percent of this number would be affected were the big three to shut down,' he said.

'When jobs are calculated in terms of the number of hours tied to automobile manufacturing,' said Havens, 'and the hours are expressed in terms of "full-time jobs," less than 0.8 percent of the labor force will be affected -- substantially less, because competitors or new startups would pick up many jobs if the big three went out of business.'"

http://media.prnewswire.com/en/jsp/latest.jsp;j...


In any event, Detroit needs to greatly reduce its size, to realistically match its market share as well as to cease over-spending itself into oblivion. It is suspending production during the next several weeks so that its inventory may be brought under control.

http://www.freep.com/article/20081212/BUSINESS0...

JillyDybka · 1 year ago

Not sure what's going to happen to my GM-employed (or retired) relatives.

river · 1 year ago

. . .I remember those stories told around the kitchen table about the Great Depression. . . Some where tender,, others hard and tragic, and those so intimate with human struggle and caring they where told in lowered voices. . .Perhaps then like now these "salt of earth" folks will be the ones to share from the little they have. . .and will once again carry this country on their backs of labor into a new era of urban renewal and green technologies?. . . . during this time of National losing and lost. . .may all find that which cannot be lost. . .