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Too Big To Fail Moves To China

General Motors was too big to fail, we were told. With that rationale, billions upon billions of government money was transferred into General Motors bank accounts. It was for our own good, we were told, to give General Motors huge amounts of money, because the money would save General Motors, and then would provide lots of lots of jobs for Americans.

Now, months later, we can see that it’s all turned out to be true… except for the “Americans” part. GM is using the government bailout money to create jobs, all right. The jobs GM is creating are in China, though, not in the USA.

general motors to china

Okay, to be fair, GM will be creating jobs in more places than just China. They’ll also make jobs in Mexico and Korea. Workers in those countries will make cars that then will be sold in the USA.

GM management says not to worry though, because some of the profits from the sale of cheap cars made in foreign countries by workers who don’t have full labor rights in factories that don’t meet environmental standards will come back to the United States, to GM executives. A little of that money, then, will trickle down all over the rest of us…

…just like has happened with all that other made in China junk. Feel better now?

3 comments to Too Big To Fail Moves To China

  • gao

    then show yourself some gut by producing some American junk.

  • Jim

    Pay attention. We do.

  • Tom

    They should have been allowed to fail (since the workers and the suppliers are all cutting jobs anyway) like the airline industry before them and also the fraudulent insolvent big banks today. What they are doing to this country would be criminal if the people in charge didn’t own the government (or effectively influence its laws and the enforcement thereof). Most of the Fed people should be behind bars. Did you see that Youtube video of Rep. Alan Grayson grilling the Inspector of the Fed?

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