Friday, May 29, 2009

In this economy the slogan Buy American, isn't just a Protectionist rant

Over the years many people including the media have made the slogan "Buy American" seem like a Protectionist phrase spouted by Right Wing loonies and Pro-Unionist. But in the new reality, it's actually more important than that. We're all reading the stories about Chrysler Bondholders and now GM Bondholders who have been "holding up" the process of getting these companies back on their feet. But let's examine who some of those bondholders are, not all of them, some of them. It's you and I folks, it's our Pension Funds, Annuities and Retirement portfolios, even if you didn't check the box saying I want to invest in the auto industry. Even if you drive a Honda or Toyota or BMW, you have money invested in the domestic auto industry, like it or not. And let's not forget that with Chrysler and GM you're going to be defacto part owners as well.
It's not Xenophobic in these times to say Buy American, it's common sense. And I don't want to argue where the "American" cars are made or that foreign makers like Honda, Toyota, Hyundai and Mazda, among others make vehicles here. I'm going to make this argument very very simple. Do you want to retire? Do you want that 401k or Pension to be worth even half of what it is today? Well, then suport the domestic auto industry and in turn help yourself.
Nobody cries foul when told that most cars sold in Asian countries are made there. Nobody shouts "No Fair!" when we hear that in Italy Fiat is very popular, or that Renault and Citreon/Peugot are major players on their home turf. Is it any surprise that Volkswagen is doing so well in Germany? No, of course not, around the world, other people realize that by buying domestically produced products they're supporting their own economy. And that's true even if a German buys a VW made elsewhere or an Italian buys a Fiat made in Poland. The money, the profits go back into their domestic auto industry and their government coffers in the way of taxes.
So, you buy what you want, I don't care. But my next vehicle will be a Ford. Not just because I love Ford, I've owned Chevy, Honda, Chrysler and Mazda products over the years, but because I want to be able to retire with something and I'm hoping beyond hope that GM & Chrysler will pay back some portion of their loans. I'm hoping that I won't have to work until the day before they put me in a box. I'll buy American so that I can enjoy something over a "Developing Nation" lifestyle in the future.
Still want a Prius over that Ford Fusion Hybrid? Good for you. I KNOW Ford's quality is on par with foreign automakers. But hell, even if it wasn't, just like those crazy Yugo lovers from Eastern Europe, I know I want to retire with something.

1 comment:

Anonymous said...

I just bought two cars for my youngest. I bought the Edge which holds one of the highest records in safety. That's not even counting that the car rides like a dream. I love this car. My decision was easy to make because I love Ford. I would never consider a Chrisler because I don't want to have to deal with any guarantee, service or/and complaint that would have to go through any kind of government specifications or government service. That would be a nightmare.