The automotive industry is falling apart even with the bailout. It was much too late for a bailout, since the industry has been in trouble for years. There are too many cars on dealership lots sitting there. No one has the money to buy a car no matter what incentives the dealer offers. This is a problem for everyone.
The impact of the fallout from the auto industry downfall has affected my family already. My son and daughter worked for a sub company that makes oil pans, engine blocks and such for the automakers. After two weeks off for Christmas, they went back to work for three days a week and now as of Feb 5, my son no longer has a job. He didn’t make the cut. My daughter is still in limbo. She has a job yet, but if someone starts bumping, she is the second in line to go.
The impact that the economy has on society is felt from all directions. The automakers cannot sell cars because other people don’t have jobs as well. Companies are cutting jobs and leaving people with nowhere to turn. This is a recession. In fact, the recession started happening back in December 2007, but it is hard hitting now.
Now, we see gas prices that we can afford, but no one has money to buy a car or even drive one because they have no jobs. Home heating costs are relatively low right now, but if the weather gets any colder, the cost of heating your home will go up.
This is a recession with a no win situation for everyone. How has the automotive industry fallout affected your family and friends? How is this entire recession affecting your family and friends?