There are a number of factors which contribute to the automakers becoming profitable again, including the earthquakes in Japan, which decimated the Japanese auto industry, and the Obama bailout....... Ahh, the Obama bailout. I want to talk about this one.This year, for the first time since 1988, all three Detroit automakers have gained market share in the U.S.
The Obama bailout of the auto industry is something that I was rather torn on. After seeing the results of the bankster bailout, I was more than a little pissed when Obama decided to bail out Detroit. However, one cannot argue with results here. OK, OK, I can admit when I am wrong. Should the government intervene and attempt to prop up or otherwise save a failing sector of the economy? Generally, I still say no, but now with more nuance in my answer. There are times when government intervention is needed, especially when the end result is that sector paying back the money to the government, becoming more profitable, and yes, saving jobs too. OK, I will give Obama the credit on that. I still don't like him, but even a broken clock works twice a day. Well done, Mr. President.
Yeah, yeah, you can call me a flip-flopper now.
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