From the cite:
What did this get in return? Well, it didn’t get us a resurgent company, no matter what Obama campaign press releases say. As recently as 2006, GM had almost a quarter — 24 percent — of the domestic auto market. That has now fallen to about 16 percent, down from 18 percent a year ago and just barely above Ford and Toyota. At this rate, Obama could round out his second term by giving it another bailout.
It didn’t turn around America’s manufacturing sector either. Since July of this year, the U.S. economy has lost, not gained, 26,000 manufacturing jobs.
I watch Chinese TV. I especially watch CCTV in English. They had a Chinese financial analyst on yesterday who pointed out that a major economic problem between China and the U.S. was the balace of trade issue. We have a huge trade deficit with China. Until that normalizes, we will continue to have problems with the imbalance.
But, the analyst pointed out, the U.S. no longer has the industrial capacity and productivity to effectively compete with China. And part of the reason for that is that U.S. government spending is crowding out capital formation that allows the creation of new, and the modernization of old, industrial systems here in the U.S.
Odd that I have to go to Chinese TV to learn this, isn’t it?