>This is significant. Even in Japan, they notice what Obama says. They also noticed that the government has taken over the U.S. auto industry making America less of a free enterprise nation. It was the bailout, stupid. If GM had just abstained from the bailouts it could have declared bankruptcy earlier, possibly saving the company. Now it may be too late.
This is from the newspaper, JapanToday: “Obama is saying that the auto industry represents the spirit of America, so they’re not going to let it just disappear. So basically, this means that Japanese and European automakers who will be competing with GM will really be competing with the U.S. government from now.
Quote of the Day › 07:05 AM JST – 1st April
Can you imagine how mad the Japanese must be right now. But their government has been proping up their car makers for years — whata’ hey! Plus, they don’t have unions, so how can we in America compete. Should have gone bankrupt, fired the unions and been done with it. But, no, our auto companies were not smart enough for that.