IN THE GREAT DEPRESSION OF THE 1930’s
Most people didn’t own homes, Banks did when they foreclosed! Today people own homes but are saddled with debt ie mortgages, equity loans, credit cards plus property taxes; Americans didn’t have a government that was gobbling up private assets at bargain prices like the USSR; Americans were not $14 trillion in debt; Cash disappeared in 1929 and Congress today is considering acquiring personal 401k/IRA’s while the value of those investments vanished overnight, turning the middle class retirees into paupers.  The US had a trade surplus, and not a $700 billion plus yearly deficit.   The US had yearly budget surpluses and was not $11.5 trillion in the  hole; Auto makers

Made a profit, today Toyota makes the same number of units as GM but is profitable, $39 billion in 2008 given the outsourcing of industrial jobs  as a result of global competition.  Today congress won’t listen to the American people it favors bail outs. It is hard to justify a huge government bailout for uncompetitive GM, Ford or Chrysler, these car companies will go under especially due to congressional intervention.  More unemployment! Bailouts are a very expensive and inefficient way, to prevent unemployment. Congress might be better off letting GM go under, and use bail money to try and retrain workers, and stimulate investment in the towns most affected, rather than wasting tax payer dollars on a company(s) that’s not competitive  and won’t survive