TUESDAY, JULY 12, 2011 AT 2:00PM
It was always my contention that the lifeblood of the American economy centered on the automobile industry; almost every industry was connected with the manufacture and sale of the American car. When cars were manufactured in America, it provided Americans with highly prized jobs with great benefits. Those benefits extended beyond those who made and built the cars to almost every aspect of American manufacturing. Cars required engineers, steel, paint, plastic, glass, rubber and almost every conceivable industry in the United States to provide some product or element in the manufacturing process, including transportation, communication, computers, paper, printing, advertising, for example. When all of that was produced in the U.S., we prospered.
Problems arose for the automotive industry starting in the 1970’s when government began to mandate various standards for cars. It is not clear how the government assumed the authority to mandate these things, but they did it nevertheless and in so doing, they drove the American auto industry into bankruptcy more than once. Consequently, the government was then compelled to bail out the industry twice to the tune of billions of dollars.
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