The End of Capitalism?

What is happening to the U.S. auto industry is truly sad and devastating for many U.S. workers. Although Detroit is not that far geographically from Northeast Ohio, I have felt rather isolated from the economic impact of many of these car manufacturers potentially going under - until listening to this Michael Moore interview. He has a way of bringing things home and making them "real" for the average American listener/viewer such as myself (which is probably why he is such a brilliant documentary maker).

Michael Moore makes a good point that the people who are suffering as a result of this economic crash are not the people at the top - not the CEOs who are making 15 million a year. Rather, the people who are suffering are those who worked for these companies for 30 years and are depending on their pension and healthcare plans from these companies in order to retire comfortably. He also makes an interesting argument that those at the top don't really believe in capitalism at all, but socialism - because they are taking handouts for themselves even while their companies are sinking further and further into debt.

I think this disparity between the average auto worker and the CEO of an auto manufacturer demonstrates some of the growing socioeconomic inequalities in our nation. While McCain defines the upper limits of middle income as 10 million, most people in our country scrape by on less than one percent of that - and in many other nations, the lives of Americans living at poverty level looks luxurious. I wish I had a solution to the auto industry crisis - I don't even understand enough about this issue to know what all is at stake. But I am sure of one thing - that if these companies do not survive our economic downturn, even my life in Northeastern Ohio will be effected.