An excerpt from a CBS News Report regarding the auto industry bail out. I highlited a very important point.
Collateral Damage
As carmakers made their plea to Washington for a $35 billion bailout package, GM announced it will cut shifts at factories in Ohio, Michigan and Ontario in February as a result of slumping car sales. About 2,000 jobs were involved, bringing GM's year's total of layoffs to 11,000. Smaller players warned that if Congress didn't help the Big Three, the ripple effect could affect the entire car industry. Paul DiMaggio, the CEO and President of Delaware Valley Corp in Lawrence, Massachusetts, warned on Friday that the "trickle down effect" would be "phenomenal" if Congress rejected a bailout. His company, which supplies material that is used in General Motors car doors and carpet, has already felt the effects of the car makers' troubles. Just this week he was forced to lay off three members of staff, because the plants they supply material to have been forced to shut down. "I have looked at it, we will survive and I hope I am not convincing myself overly optimistically that we will survive," DiMaggio said. Azure Dynamics in Woburn, Massachusetts is another example of a company feeling the effects of the car industry's uncertainty. The company, which has 120 employees, works on parts that fit into Ford's new hybrid energy vehicles. Vice President Dean McGrew said on Friday that his company had seen a dramatic drop-off in demand in the past two months partially because of a drop in oil prices.
If Reagan was wrong and trickle down economics didn't work and the trickle doesn't really trickle down...why does everyone in a Democrat controlled congress fear this effect? I've heard from so many on the left that say trickle down economics doesn't work. Folks, I believe we are about to spend Billions to prove how important that trickle really is, but since it's the liberals leading the charge, I don't think anyone will be pointing out the hypocrisy. Whether it's Business to Business; Business to Consumer; Management to Employee; Rich to Poor, you just can't seem to create an economy based on trickle up economics because it lacks logic.
The school systems seems to bestow the NEA's beliefs onto their students as has been documented very well, however, they haven't figured out how to teach logic or common sense. Which of the these subjects do you think are more valuable to students as they grow into adults? Shared Beliefs in what others think....or the ability logically reason?
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Swift Wind just doesn't get it.
The economy collapsed from the bottom. That's the base, the consumer, the man on the street.
So there is ample evidence that when enough of us little guys feel the pain, eventually the big wigs get hurt, too.
So, as it is true that the economy collapsed from the bottom then it also holds true that repairing the economy, too, comes from the bottom up.
This would be the exact opposite of the trickle down theory.
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