Having moved to the Detroit area, and having bought real estate here, I can't help feeling awful about the auto industry.
This town would be so much nicer and more prosperous if the US Auto Industry would hit better times.
I know that automobiles are not going away, so that even though cars may be downsized, somebody will have to make and buy them. I was hoping that the weak dollar was going to help them. With the dollar back up to $0.79/Euro, that is less and less likely.
Some say that the US does not have any distinctive, competitive advantage over other countries. I am not sure that's true because the US competes in airplanes and other mechanical equipment. In addition, these companies are not really national companies because they are so global.
I hope our new President takes on US competitiveness issues.
http://www.businessweek.com/magazine/content/08_37/b4099060491065.htm?chan=autos_autos+--+lifestyle+subindex+page_top+stories
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