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GM's gloomy YouTube video on economic impact of auto industry collapse
In reaction to the swelling controversy surrounding bailout type funding of the the auto industry GM has posted a gloomy YouTube video outlining the economic impact of a full-scale auto industry collapse. The video, which begins by headlining the staggering $156 billion annual total of auto industry related economic activity, makes a very solid point about how the US economy would suffer if the auto giants went under.
The GM YouTube video talks about the ripple effect of an auto industry collapse and begins in typical scare tactic form with a startling statement of fact:
"the auto industry has one of the largest economic multipliers of any sector in the U.S. economy..."
The video just gets scarier from there. If these comments are accurate it seems that a bailout of the auto industry is an absolute must for the survival of the U.S. economy.
The gloomy pro-bailout video was posted by GM corporate headquarters and paints a very grim picture. GM has posted videos to YouTube before but industry bloggers say that this latest video drives the point home better than any of the others. With the U.S. in a clear recession it seems that the country can not afford to lose its auto industry.
GM (GM) says we still don't get it. If we don't save them, they're gonna nuke the economy to all hell. In case dire warnings of billions and billions in losses aren't enough to freak you out, the company has posted a scare-video on YouTube, complete with ominous music and the kind of overwrought imagery you might got during a preview for 60 Minutes.
We've gotta hand it to them. It's way better than the boring, talking-heads stuff they've posted on YouTube in the past. They really nail the fear factor. We stopped watching after about 2 minutes. Enjoy.
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Most RecentMost Recommended Comments (6)
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ShadowHawk (not verified)at 16:56 on November 17th, 2008
Some people just aren't intelligent enough to get it! Does anyone not understand that the automotive industry made middle class America? Does anyone not remember that it was the automotive industry's ability to change over during World War II that allowed us to win the war? Does anyone not understand that the automotive industry employs one in every ten working people in the nation? Does anyone not understand that that amounts to 10% of the nations work force? Does anyone not understand how much the auto industry contributes to the nations GNP? Does anyone not understand that Japan became the world's second largest economy due to their auto industry?
Let me just sum it up for all you ignorant fools out there that are against the auto industry bailout; No auto industry, no USA!
at 13:29 on November 18th, 2008
Originally I thought no way we should bail out the rich fatcat executives for srewing up the auto industry. And seeing that I live in Warren, Michigan, it would have a huge impact on everyone around me and elswhere as well. So I have changed my mind and I think we should BAIL them out but I also think there should be very strict REGULATION & OVERSITE in any plan they put forward. There should be real conditions (Real ones that they must follow and not lobby congress to drop fuel standards like they have done a few times in the past) on improving fuel milage and new technolgies like battery powered vehicles and alternative fuels. I believe they already had a chance at improving fuel milage and just kept dragging their feet and asking for extensions on deadlines and getting them (get tough, Congress!!!).
at 17:33 on November 18th, 2008
It's all lies. Failing puts them in Chapter 11 protection. A bankruptsy judge overses operations. Millions will not loose their jobs.
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Al America (not verified)at 21:34 on November 18th, 2008
Their survival is less costly than their funeral. Plus when the american car makers are gone the asian and european will leave for cheaper labor and all the cars will be imported , just like oil and everything else. America WAKE UP and support your american companies and their workers.
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ZIONIST CRIMINALS.COM (not verified)at 06:36 on December 15th, 2008
The American Auto Industry, is based on theft, theft of raw materials from Africa while the people starve to death, copper aliminium, iron ore, rubber, all raw materials needed to manufacturing industry, all traded on the stock exchange, commodoties markets and the world trade centre. Yet there is so much poverty in Africa and that is where all these raw materials come from.
Then there is the oil trade, all the people who trade in oil have had their countries attacked, invaded, occupied, their people live in poverty because every time they try to develope the Americans come and attack them, making up stories like WMD, smash the country and then hope to gain contracts rebuilding it. It's an old British colonial ideology, so people know about it so this time it did not work because all the contractors was targeted an in some cases killed. You see what has happend, if you want things you have to pay for it.
If you want a new car you have to buy it, and America became rich off the backs of the poor, and wall street became greedy and wanted more and more, and de-regulations helped all the crooks on Wall Street. THE BIBLE SAYS THOU SHALL NOT STEAL. America and Britain is a nation of theives. Pay the producers for their goods even if it's coffee beans, no matter what it is pay for it because while you are stealing children and old people are dying from poverty and disease.
The car giants will close down, because their business is crooked, the stock market crashed because they were crooked. We are in REVELATION TIMES, all things will be revealed. SATAN will be revealed and CHRIST will be revealed, one cannot be revealed without the revelation of the other.
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nicholas christie - Republic of Ireland (not verified)at 08:53 on December 15th, 2008
Guys please relax... this crisis is only as bad as we want to think it is. Let's just look at the FACTS. Over history, large manufacturers have come and gone. When one leaves another opens. Nothing will happen. Things will, over time, rebound. In any case - and this is a very important point - AMERICA is the champion of capitalism and free markets. So what's everyone complaining about! You guys made the system and now you want to change the rules! You can't do that! Make the system, suffer the consequences! Or become a Socialist Republic or allow more Government intervention and make it law. You can't HAVE BOTH!!!
America is a great Nation but please, stop listening to the HYPE and then, look at yourselves in the MIRROR! Then make a change.