From an IBD Editorial, a title worthy of brother Judd:
So Who Drove This Chevy Off The Levy?
The answer is we did.
FTA
... But while the appliance makers manufactured better products, the automotive Big Three manufactured excuses: "The Japanese pay their workers less"; "the Japanese benefit from their weak yen"; "OK, the Japanese excel at making tiny cars, but they can't compete with us on larger models and trucks"; etc.
The Big Three then turned to Washington. Their lobbying paid off through protectionist policies: "voluntary" import quotas (forcing American consumers to pay more for Japanese cars); domestic content rules (requiring foreign automakers to use a certain amount of American-produced equipment in their cars); and demands that foreigners "open" their markets to American car products or stand accused of "unfair trade."
All of this shielded the Big Three from the rule of business that determines success or failure: improve or die.
The Law of Supply and Demand -- foreign auto makers supplied the products we demanded and we also paid for subsidies to our home grown auto industry to make inferior products while pandering to the unions which added to the takeover of the banks led to the crisis that would allow Obama et al. to quickly bring our economy to its knees. Next nationalize health care for the fatal blow.
Rahm's game plan of not letting a crisis go waste was done one better. First create the crisis and then exploit it to the max.
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