Quote:
Originally Posted by Fletch XXX
maybe we should rethink the way things are set up if GM failing could cause another Great Depression?
I mean really, if anything thinis this will never happen again just becasue we throw 30+bil at car makers watched Neverending Story too many times.
I dont think the world would end if GM failed, it already failed, the fear mongering is what keeps people from progress.
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It has failed but the jobs haven't gone away yet, and those people haven't claimed unemployment yet and next year's income taxes haven't dropped yet.
You're thinking about this a little too... linear. The US doesn't enter a great depression the day following GM's closure. Just like it doesn't enter a recession the day after real estate prices start dropping.
Each hole in the boat makes the boat sink that much faster and makes it that much harder to patch.
Yes, I think things really are structured poorly if GM's fall could put the US into a great depression, but again, it's not as simple as that. If the US had a strong thriving economy and everything was prosperous.. I'm sure there wouldn't be anywhere near the same urgency involving GM.
But because the economy is where it is now, this could be the final nail in the coffin and if not the final nail... it certainly would be another rather big nail putting you closer!