The Auto Industry Bailout / Lies and Damn Lies

It is just like the last time around and the time before that …..

The politicians and special business interests are telling you lies to get your money …..

THIS TIME AROUND IT IS THE UAW, AUTO EXECUTIVES AND THEIR FRIENDLY POLITICIANS.

Have you heard the fear mongers ….. the “Old” Auto Industry is responsible for 1 job in 10 in the United States.

What absolute Bull Shit …….

As you might recall we have 2 Auto Industries in the US. The old Auto industry represented by the “Detroit 3”, (General Motors, Chrysler LLC and Ford Motor Company). The New American Auto Industry is represented by Toyota, Honda, Nissan, Kia, Hundai, etc … or the “transplants” as the Detroit 3 and the UAW refer to them.  http://online.wsj.com/article/SB122608860916209213.html  

The “Old Auto Industry” or “Detroit 3” is seeking a “handout” or “bailout” if you will.

The fear mongers are at it again – without a “handout” the “Detroit 3” will “fail” and take 1 in 10 US jobs with them. http://www.marketwatch.com/news/story/deutsche-bank-cuts-gm-sell/story.aspx?guid=%7BCAFEF63F%2D017D%2D42E2%2D874A%2D14146A6D20A5%7D&dist=TNMostRead

First, the combined output of the “Old” and “New” Auto Industries is only about 1% of the GNP (Gross National Product) of the US. http://www.marketwatch.com/news/story/deutsche-bank-cuts-gm-sell/story.aspx?guid=%7BCAFEF63F%2D017D%2D42E2%2D874A%2D14146A6D20A5%7D&dist=TNMostRead

The “Detroit 3” is only repsonsibe for half of that, or approximately 1/2 of 1% of the national GNP.

Got that, for every $1 of GNP they are responsible for 1/2 a penny.

The total number of US jobs associated with the Auto Industry, “New” and “Old” combined, those directly and indirectly employed by the “Auto Companies” is 900,000.  http://www.marketwatch.com/news/story/deutsche-bank-cuts-gm-sell/story.aspx?guid=%7BCAFEF63F%2D017D%2D42E2%2D874A%2D14146A6D20A5%7D&dist=TNMostRead

About 1/3 of those, or about 300,000, are employed directly or indirectly by the “Detroit 3”.

The United States has 203 different employment classifications. There are 135 Million (135,000,000) people employed in those classifications in the US. http://www.jobseducationwis.org/

Fact checking the fear mongers would reflect that only 1 job in every 450 is associated with the “Detroit 3”, not 1 in 10.

By comparison Citibank employed 375,000 people in 2007. http://in.ibtimes.com/articles/20081118/citigroup-looks-shed-weight-announces-50000-job-cuts.htm

In 1999, Walmart employed 950,000 people.  http://asms.k12.ar.us/armem/clark/inter.htm

WE ALL KNOW WHAT IT MEANS WHEN SOMEONE HAS TO LIE TO MAKE THEIR POINT …… I GUESS THE MORE MONEY THEY WANT THE BIGGER THE LIE HAS TO BE ……….

One Response

  1. YEP. WHAT A LOAD OF BULL. ONE IN TEN….ROFFLE!!!

    I KNEW THAT WAS A FAT LIE FROM THE START!

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