Watch Where You Point That Finger
There is a saying that when you point a finger in blame at another person, you have three fingers pointing back at yourself.
The recent hoopla surrounding the bailout of the Detroit Big Three reminded me of this saying. It is obvious that the bailout is hugely unpopular, and there is understandably a lot of anger being directed at the management of these car companies for the many, many poor decisions they have made over the years that have contributed to their current state. But are they solely to blame? I think not.
The sad truth is that the car companies have been producing big stupid gas guzzling super-trucks for a good reason – people have been buying them! And the reason people have been able to afford these gas guzzlers is because of the low taxes on gasoline in the US compared to the rest of the world. Why are taxes so low? Because there would be an uproar if politicians tried to increase them!
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