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Why are people so concerned about major industries collapsing? There will always be entrepreneurs to take their place. They will not be able to replace the indu
by nihilocrat 18y ago
Why are people so concerned about major industries collapsing? There will always be entrepreneurs to take their place. They will not be able to replace the industry overnight, but it will all work out and give a better result than trying to barter or bail out with people who are devoted to making crappy products.
The problem here is inherent in the car companies: it is simply a case of them making products no one wants. They either need to reinvent themselves or cease to exist so other, more capable people will take their place.
There are clever, motivated people who are going to notice these opportunities and capitalize on them. There always have been. I hate to sound pigheaded, but calls of "well... well... what if the world ends because we didn't bail these guys out?!?!?" are just FUD.
- Retric 18y agoIf they had zero debt they would not be in trouble so it's not just them but everyone who they owe money to (including retired people) that stands to lose money. PS: This bailout if it worked is far less costly than taking over their pension plans would be.