What Bugs Me About All the Damn Bailouts

Published 2008-12-08

What if Americans aren’t buying American cars because they aren’t buying any cars?

What if no one else on Earth is buying cars either?

What if this has nothing to do with gas prices?

What if mortgages are failing because the houses are mainly vinyl shacks built fifty miles from economically-productive cities?

What if the cost of owning a car was too great for most families, even if gas were free? (And what if gas prices went up again?) What would happen to the value of those vinyl shacks then? (And why haven’t all the mortgage-company bailouts fixed that problem yet?)

What if cars are a fantastically stupid thing around which to organize America’s productive activity? What if we talked about organizing it around something else?