Wall Street Journal: 'Just Say No to Detroit'

[A Horse With No Name]

Exactly, Camino. We need to change our nation, because we've gone from a nation of creative, responsible individualists to a nation of sheep that shop from and work for the big major mega corporations.

This is why I rarely eat at Appleby's or Burger King, and rarely if ever shop at Wal-Mart.

Chris

[CARBIZ]

Ya know...

I was thinking the EXACT same thing today.... You and I must be on the same brainwave.

I was watching a documentary on the 1999 WTO protests in Seattle. That brought to mind the fact that the world really is controlled by the elite at the expense of EVERY society, it's just that america has the farthest to fall. I was thinking to myself, the only two major unions left are the UAW and the Teamsters.

So how much of this, especially the one WTO official that said he would lobby against a Detroit bailout, has to do with breaking the union?

Globalization is winning the fight against the labor movement as it is. But imagine the momentum and victory that would come with a bankrupt Detroit... It could very well spell the beginning of the end for unions and the labor movement entirely. After that happens, nothing short of a global war (Some could say that the financial crisis is the beginning of that -- i.e. the working class has decided to reduce spending greatly) will save us from corporate globalization, if even that can.

Five years ago, we Canucks were told that our banks were 'too small' to compete globally and should be allowed to merge to be competitive. The government intervened and said, no. Now, Canada is one of othe few countries whose banks are not seeking bail outs because they are rock solid and did not get involved in costly, leveraged buyouts.

BCE (owners of Bell Canada) is one of the biggest Canadian companies not owned by a foreign power. Two years ago, they penned a huge deal to be bought out by a pension fund and other 'investors,' to the tune of $34b to $54b (depending on who you believe.) The government had concerns and now with the money markets, the deal is in jeopardy. But WTF: who is going to pay for this 'merger??' How will it benefit consumers in Canada? Why does BCE need to be bought out? Well, the answer is pretty clear: it benefits the fat cats on the board, all the brokers (commissions!!) involved in the deal, etc. I may not hold a Phd in accounting, but wouldn't that kind of money be better spent on R&D?

I am really reconsidering my opinions of all this globalizaton talk. It is fairly obvious now that we were sold a bill of goods because one of the benefits pitched to us was that these type of world wide recessions would no longer be possible. REALLY?

[A Horse With No Name]

The world wide recession is upon us...we really need to limit globalization.

Chris