Let Makers of Huge Cars Fail: Market Analyst
US cars have become the "size of houses," and no-one wants to buy them anymore, Clem Chambers, CEO of ADVFN, told CNBC Tuesday.
"These cars are bad for the environment, bad for the economy, they're just bad," Chambers told "Squawk Box Europe."
Automakers hoping to receive government cash to backstop their failing sales should be allowed to collapse despite the flurry of job cuts that that would cause, according to Chambers.
Bailing out uncompetitive businesses will only lead to more competitiveness, Chambers said.
(Watch the full Clem Chambers interview above).
"They make unsustainable products that the consumer doesn't want … why should they be allowed to survive?" he said.
"There's loads of people in trouble in the American economy," Chambers added.
The strategy of propping up "bad businesses run by bad management with good money" is a return to the 70s, he said.
