I've been doing some thinking about the great American car crash .. A federal bailout for Detroit? Emergency aid to continue their business? Or let them go bankrupt, restructure, and possibly fail if they cannot compete with other companies that were able to modernize their operations long before the old guards named Chrysler, Ford, and General Motors? This is an important question.. I was opposed to the original bailout--and I believe that people opposed like me are getting redemption. Only this week, King Henry Paulson suddenly changed course and said that the $700 bil bailout will not be used to buy up bad assets, as he originally proposed as the Bush Administration sold the plan to Congress.. And now, Democrats in the Congress and Senate appear willing and ready to give GM and Company federal dollars.. President Bush's reluctance may soon not matter--January 20, 2009, President Obama takes office and would most likely sign a bailout.. This bailout is much more likely to affect Americans than the Wall Street giveaway.. If GMC and others would fail, so would machine shops, supply companies, factories, the industrial Midwest, and car dealerships throughout the country, including salespersons and service techs.. Some researchers say that millions could end up unemployed if the big three fail.. I don't have an answer.. I have some suspicions that we have gone bailout crazy .. some argue that Chapter 11 reorganization would be the best road for the big three.. others argue that Detroit must be saved.. We'll see in the coming weeks what happens. And I don't know what the answer should be--although a sneaking suspicion is that if we bailout GM we'll have to do it to all others, so perhaps it's better allowing a company that failed an industry fail within the industry.. But that's the Ron Paul in me coming out.. So much for that: The random rakings from around the world, all the news unfit to print, but printed.. Must watch video posted yesterday: Peter Schiff was right years ago about the economy.. Huge wind-blown fires in California cause destruction: Hundreds of homes destroyed.. and lives forever changed.. Thousands are being evacuated in the Golden State.. Progress: TIMES SQUARE getting its first green billboard which will be powered entirely by sun and wind.. Obama may have to give up the Blackberry .. aides say he probably won't become the first emailing president.. Study: Unhappy Americans watch a lot more TV than happy ones.. Watch out for the exploding bras! Victoria's Secret show filmed for broadcast on CBS in December.. Linsday Lohan flour-bombed! Animal rights activists throw flour on fur-wearing Lohan as she walked into a Paris nightclub.. Sick society (one that does not represent the whole): Obama election victory spurs race crimes around country.. The billion dollar bat!!! DARK KNIGHT earnings assessed now at $1 billion worldwide .. The only other three movies that claim rights to the billion dollar club: Titanic, The Lord of the Rings: The Return of the King and Pirates of the Caribbean: Dead Man's Chest.. Rapper Kanye West critical of paparazzi photographers after he was briefly arrested at nightclub.. Critic: Two new stars on SATURDAY NIGHT LIVE won't help Obama problem: They're both white women.. MTV ends an era: TOTAL REQUEST LIVE over after a decade.. Divided we fall: Vermont town argues over children saying Pledge of Allegiance..

Labels: Random rakings, Sunday Morning Sidewalk