Comments by "MarcosElMalo2" (@MarcosElMalo2) on "America's Retirement Timebomb!" video.

@mandisaw The lesson I got from the video wasn’t “Unions are to blame” nor that pensions are bad. The message I got was that both the unions and the manufacturers were shortsighted and share in responsibility for the near collapse of the U.S. auto industry. However, the rise of Toyota and Nissan was not as easy to foresee back then as it is in hindsight. It only took a decade for Japanese car companies to be firmly entrenched. Other factors beside sticker price were also factors. The U.S. suffered oil shocks around this time (the opec embargo), there were gas shortages, and gasoline prices skyrocketed. The Japanese cars were much more fuel efficient, which made them much more attractive to buyers. The 70s were really the end of an era, but the pension obligations didn’t go away.
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