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The Reckoning

Discussion in 'Gen 2 Prius Main Forum' started by FL_Prius_Driver, Dec 22, 2008.

  1. FL_Prius_Driver

    FL_Prius_Driver Senior Member

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    The Reckoning was a book written about the near bankruptcy of Detroit in the 1970's. Reading it is an amazing lesson of how history repeats itself. Some interesting notes:

    1) Lee Iacocca had to give up his company jet as a condition of the US Government loan. (He then leased a private plane and then claimed that a a famous public figure it was necessary.)

    2) The oil price shock came when the price per barrel jumped from $3 to $12. However, the drop in car buying came well after that.

    3) Michigan got a loan of 500 million from a consortium of five Japanese banks.

    Deja Vu.
     
    #1 FL_Prius_Driver, Dec 22, 2008
  2. hill

    hill High Fiber Member

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    My favorite history quote is that the only thing history teaches us is that we never learn anything from history. :( Even that quote is a re-write ... originally from the Psalms. "There is nothing new under the sun". We're all stuck in a big feedback loop.
     
    #2 hill, Dec 22, 2008
  3. kimgh

    kimgh Member

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    "There is nothing new under the sun" is actually a quote from Ecclesiastes: Ecc 1:9, to be specific.
     
    #3 kimgh, Dec 22, 2008
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