That was the Toronto Star’s headline Tuesday. In a moment of weakness, stunned by the sheer numbers, I was ready to take drastic measures.
Throw billions at them! Nationalize GM! NAFTA be damned!
Thankfully, Andrew Coyne knocked some sense back into me. Go read this debunking. For those too lazy for links (what are you doing on the Internet?), the most enormous flaw of the study behind the headline was that it assumed the highly unlikely total collapse of GM, Chrysler, and Ford. All at once. Leaving behind a vacuum of economic misery, never to be filled by other companies.