…is captured in this chart:
Nate Silver over at FiveThirtyEight has an explanation on why GM’s Problems are 50 Years in the Making. So there is going to be alot of talk about short term steps such as restructing and bankrupcy protection and Chapter 11. But to me, looking at this chart, I see one doomed company. Instead of chapter 11, it’s time for chapter 7. And I think the focus should no longer be about GM (or Chrysler). Instead, the focus should be on Michigan and the American (and for that matter, Canadian) automobile industry.
Smart People I Know 
Bernie, although the referenced article focuses on GM, the more general issue is one of demographics – we are living longer and trying to retire earlier, at a time when health care costs are rising much faster than inflation and our need for health is increasing. GM might have been short-sighted in the 1950s, but there is no lack of similar thinking happening right now.
Forget the future of the auto industry. We need to figure out how to migrate our cities from their current layout to one that dispenses with cars within 50-100 years.