Can someone explain this to me? The powers that be are whaling and gnashing their teeth - telling us that if we don't get some sort of "auto bailout" the entire auto industry will crash.
Wait...the ENTIRE auto industry!?!
No. I think those powers that be are slightly confused. It won't be the entire auto industry that collapses. It will be the incompetent and uncompetitive companies strangled by the UAW. Auto companies that are competitive and making great products will continue on and probably thrive in the future.
I heard all week by the talking heads that the market was going up or down based on whether the auto bailout would pass. If the market was going down they said it was because the auto bailout was not looking like a sure thing. If the market was going up they said it was because it looked like it would pass. Mind you, these explanations were given in the same day sometimes.
And yet, today...the market went up even after the bailout failed. But the explination was the same - market up on hope of bailout. WTH?
The so called bailout is a BAD idea! I don't know what the president is smoking but saying that he is now going to find a way to prevent the collapse of these companies is not only stupid but scary. The congress did NOT pass a bill and if he wants to thwart the will of the people I suppose he'll find a way. I'm sure the One is hoping that Bush will do the wrong thing so we can't blame him for the repercussions. Which will come.
I don't know who they are kidding...the bailout is not for the auto companies. It is for the unions. Thugs and bullies.
Saturday, December 13, 2008
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4 comments:
Bingo! You are spot on. The failure of the government bailout was the fact that the union wouldn't budge. Bingo! You hit the nail on the head. Bush better not bail this bunch out.
Have a terrific weekend. :)
I would tell the big 3 [I was told that Ford wasn't asking for money, just going along for 'moral support'. Oh, please.] that if they kick the unions out, do a total restructuring of not just their finances but their design and production arms, that I'd think about it. Otherwise, nothing will change and they'll still bleed moola.
Tom Coburn, Senator from OK: "In 2007, GM sold 9.37 million cars worldwide. Toyota, that same year, sold 9.37 million cars worldwide. GM lost 38.7 billion. Toyota made 17.7 billion. Therein lies the problem."
The only person I've heard (other than Conservatives bloggers)come right out and say that this is for the Union plain and simple is Dick Morris.
I wish Bush would just let it be. If The One wants to nationalize the auto industry, let it be on the Democrats' heads... not Republicans.
And the market went up because people had a renewed faith in Capitalism. Investors feel confident investing their money in private industry. A bailout brings us that much closer to a Socialist economy, so investors figure "why bother investing in private corporations if the govt. is going to take them over and I'll lose all my money?"
Glad I'm not the only one who gets it. Why is it so hard for those "in charge" to understand? Or maybe they do understand but they don't care. They want their pockets lined and the status quo to remain. *sigh*
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