The flip side is, with tens of thousands of workers getting released out onto the market, what do you think the odds are they will find jobs? Not very high, not in this market.
The odds that they'll find a job? Given that last month's US employment report (the worst in decades) showed that for every 8 jobs lost 7 were created I'd say pretty good.
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That means they end up on unemployment. That means the government probably extends unemployment benefits. This means they don't have health insurance anymore (if they did before) and are using ERs. Who pays for all that?
Well, given that the Detroit 3 between them employ ~400k employees in the US, that their parts suppliers would be quite happy to retool to supply "import" car manufacturers, that the 30 billion or so the car companies want won't keep them running for more than a few months at current loss rates and that unemployment benefits over a period of a few months don't generally run at the 75000$ per head these numbers imply then I'm pretty sure I know which one would be cheaper.
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