"The United States now has 981 cars for every 1,000 people of driving age compared to 613 in the United Kingdom and just 24 in China. As a result, no amount of government aid will stop the factory closures and layoffs. "
It seems to me that this is the problem with capitalism in general -- it's based on the premise of unlimited demand, and unlimited natural resources, without which, companies can't survive. And it's especially a problem for enormous, capital-intensive businesses that need a constant supply of new business just to pay the upkeep on their physical plant.
We, the people (referred to as "consumers" by economists and marketing people) exist, as far as capitalism is concerned, to consume the output of these huge enterprises. Rather than making products as a response to demand, these businesses make the products first and it then becomes our patriotic duty as citizens to consume those products. This cart-before-the-horse situation can only be maintained through a combination of manipulating people's desires and extending them credit to finance the purchase of products they can't afford (and often don't need).
Hence, the annual media hand-wringing about the Christmas retail season and whether "consumers" will do their duty and buy lots of stuff no one needs in order to keep the economy on track.
The current economic slowdown (train wreck might be more accurate) seems to demonstrate that, without constant maintenance of the demand stimulation machinery in conjunction with an endless supply of cheap credit, people stop being "consumers" and revert to a state of just buying what they need. Needless to say, this is a terrible problem for the captains of industry.
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