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dohbamaYour reading comprehension is lacking..What I said “Barney Frank will do more to solve this financial crisis than the president of the United States.”Your homophobia is showing....…. The president's absence in this financial meltdown is telling for everyone except those 25% who still believe in him.Only a right wing fringe Republicans think Michael Moore is a bogeyman. He is a successful left-wing filmmaker. He was quoted on CNN, ABC, MSNBC and NBC. I have quoted Newt Gingrich, Rush Limbaugh and others as well. Michael Moore said Chrysler should go back to making military equipment. I agree with that sentiment…. Michael Moore is from Flint, Michigan the heart of the auto industry. People that continue to take the high road always bother me, because I usually do not deal in personal examples because they cannot be verified. Anyone can say” l do all the right things.”I do not know why you bother to visit my blog, unless it's to get your quota of insults, and unsubstantiated facts in for the day.One thing I don't have to do ,is lie…. one quote with a source.The fact that Barney Frank is chairman of Financial Services and Hank Paulson is Treasury secretary is, as far as individual leadership, probably the only thing keeping the system afloat right now. - Former GOP Rep. Steve Bartlett
OK, let's help. You and I. I'll save, you spend. I'll continue to be debt free and buy only what I can afford to pay for as I have for the past three years, you continue to do whatever it is you do. Your denial is documented in your own words...You quote Michael Moore in this very blog.In another blog you stated that Barney Frank will lead us out of the banking crisis, he should since he helped lead us into it, but he won't because he doesn't have clue as to what he's doing. He may be more concerned about getting home to his male prostitute "friend". I've not heard one person in congress declare that Frank knows what he's doing as you state.You state that my example is apples and oranges but when I point out that you are incorrect you avoid the subject.I'm sorry the high road bothers you. I forgot you are a liberal democrat so of course the high road is bothersome.
The blog I wrote a very little to do with my personal opinion, so to say I am in denial is just not true.I am not naïve as to when it comes to politics and ideology. I know that the Southern Republican senators are lobbying against the automakers and unions. Why not? They gave tax incentives to foreign automakers to move to their state. I know that the Democratic senators have not put pressure on the big three and their unions to make concessions equally across the board because of their past support..Spare me the lectures on gratitude and perseverance. Like I said, I worked for over 44 years without being represented by a union, but I can see CEO pay to worker pay has increased dramatically since I retired. Companies used to provide healthcare, pensions, and other benefits in competition for good employees. Union bosses are no different than CEOs when it comes to greed and corruption.This is not the era of our grandparents during the Great Depression. We are a service economy that depends on consumer credit in order to exist. Taking the high road and quoting a verse or two will not get us out of this depression. We are in a global economy, so we can no longer rest on our laurels.The answer is to find equilibrium between saving and spending because consumer confidence will not come around without it.
A lot of BMW and Mercedes autos are comparible price wise with high end cars from the Detroit big three. It is not unusual to see trucks priced in the 40-50 K range. Hummers, Escalades, Lincolns, Buicks- I could go on and on. There are some truths we must face, or continue being in denial, which ever you choose. The latter seems to be more of your usual course. Detroit has let unions dictate to them far too long and has made too many conscessions. I stand with the workers side by side but it is the union bosses, the mobsters and cut throat jerks that must be dealt with. But I support the workers themselves, they just need to be exposed to life without unions. Many of them grew up with unions shoved down their throat and think there is no other fair way of life when in today's world that is just not true. I grew up knowing that it is my responsibilty to provide for my family. If the job plays out, I get laid off it's no ones fault, no lawsuits to bring, no sit ins. Just pick your self up by your own boot straps dust your self off and go get another job. Learn something new, move to another town. Do what it takes to support the family and don't look to some false hope of union brotherhhood to support you. I do agree with your observation that we have become a society of indebtedness. We all need to learn the lesson our parents and grandparents learned during the first great depression. If you can't afford it -cash- don't buy it. The Bible tells us that the borrower is slave to the lender. What does that tell you about all the money we are borrowing, as a country, from China. Much of which is being used for the bail/handouts which BTW don't seem to be working.
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In full disclaimer, I have never worked for union, but I have always stood with labor rather than management. You mention perks, but to me that's excessive CEO pay and corporate jets rather than healthcare benefits.Poor management and union contracts need to be dealt with, but is not the only reasons for their downfall. Ford and GM sell about the same amount of cars (Ford has a cash flow) but GM has about 1700 dealerships to Fords 700. Their vision was lacking, Americans wanted high gas mileage cars but the big three did not listen.I never singled out Toyota as being the only foreign manufacture in the United States, but I had been criticized for buying a Toyota Prius (not buying American) but states that give them tax abatements are given a free pass.Japan and China subsidizes their car industry so there is no need for bailouts
. BMWs and Mercedes are in a class of their own and not be compared with sedans for the middle class. It's an apples and oranges argument.
No, poor credit risk starts with people that don't pay their debts. Car sales are down 30% overall but in some states and countries they are up. The problems the Detriot three are having have more to do with poor management and union blackmail than poor sales. Texas and Tennesse are not the only right-to-work states that have auto manufacturing facilities and Toyota is not the only so-called foriegn manufacturer that have factories in the U.S. BMW, Mercedes, Hyundai to name a few. None of which are asking for a hand-out.
I dont run in circles and all the data I provide is from information gathered from all 50 states; like car sales being down 30%....I did not offer personal stories.Poor credit risks starts with a country that does not save (per say) we are a debtor society and the banks say 110 million are not credit worthy at a time when money is tight.I see you follow the logic of Rush Limbaugh, fear of Obamas campaign rhetoric
Funny the stock markets losses you remember and blame the president elect, but as I recall each time Obama announced a new team member or strategy the market shot up
.I believe the swings in the market are due to lacking consumer confidence..Banks arent lending, consumers are not spending, companies laying off or cutting back. The first big drop in the market came after the GOP house members turned down the bailout; as I recall.Using the market swings is this climate is not a good indicator
If and when the economy bottoms out; then stabilizes. Until then we are still under 9.000.Bailout or bridge loan or a hybrid of a bankruptcy & loan (called something else) with conditions will probably be the route congress will take.Right-wingers may despise Barney Frank, but all the republican legislators will tell you; Barney Frank is an intelligent and competent head of the banking committee
Mr. Frank was and will be more instrumental in solving the banking crisis than the current president of the United States
Likely a difference of the circles we run in, Mike. I personally know a hundred plus business people with outstanding credit that would make an auto purchase ASAP (myself included) with proper tax incentives. Well managed profitable business folk always spend when given a good enough reason. Piss poor credit risks are what started the loan fiasco to start with.No banks want maginal loans, but the vaults are open for qualified applicants. The current climate in business is fear of the unknown. Hence the lack of spending on new equipment and attempts to run inventory lower. The fear is based on the campaign rhetoric of the President-elect, although the tensions have lessened as he has already backed away from several of the major points on his presidential run.A government bailout of huge banking institutions lead to an immediate 2,000 point drop in the Dow. Did a lot of good, didn't it? No doubt some series of events need to take place to save our domestic auto industry. GM and Chrysler look to fold any day. Ford appears to have a few months cushion with which to operate. Bush looks to be willing to sign on only for a month-to-month program, leaving the new administration a bushel basket full of problems come January 20th. Best of luck for Obama, and us.In the words of Barney Frank, "we musst thave ar wurkers jwobs". I hope your leadership has sense enough to send that lisping sicko home soon.
Almost but not quite,yes tax credits would help but unless the banks opens a line of credit to the auto dealers or start lending the cars remain on the lot...Someone from the Houston Chronicle suggested that we cut out the dealerships altogether and set an Ebay relationship between manufacture and buyer. The connection is to make one of the Big Three go into the mass transit and alternative fuel businees...No ,none of the projects can take over a moments notice but it will be a start.......I believe a plant in Ohio makes the most efficient locomotive engine in the world,so I believe we have the engineers that can make it happen.Government (we the people) with our legislators can set the environment for production & creativity.....I was not implying micromanaging.Compact fluorescent light bulbs can save a customer a lot of money on their energy bill but they are so expensive ;people won't buy them....Government can set a time limit for country switch over with rebates to help the poor purchase them...Japan color codes their appliances..Green for energy efficient orange for less efficent...Guess which color flies off the shelf.We have a global economy ;our government makes trade agreements,so to say government does not have a role is to ignore the facts.
Mikey.....you have indeed reached an all time low....quoting Michael Moore as some sort of expert.....unbelievable and hilarious at the same time.
You never cease to amaze me.
And the majority of those wind turbine generators come from...India and Europe. Don't see the connection other than the installation process. And none of these projects can take off in a moments notice.An immediate tax credit for purchase of an American auto would have an immediate impact. I say, don't give them a bailout, give them some business.....and consumers and business a reason to buy. I'd do this right now, then look at loan guarantees after the first.As with the home mortgages, auto numbers were overheated with maginal credit risks. And now their market has died as well.Production and creativity? Sounds great, but when has the government ever been the leader of either?
Texas and Tennessee gave the Toyota plants tax abatements.GM has decided to discontinue the Saturn.. good luck nonunion plants in the South that were making these vehicles.The unions have made very many concessions, but healthcare for life is a factor.Congress should not have had lectured the big three CEOs because Hank Paulson and Congress gave Wall Street a $700 billion without any questions...... white-collar bailout with no questions asked. Do blue-collar bailouts deserve humiliation and an essay?The big three have too many dealerships with iron tight agreements that should be renegotiated and downsized.It's never been about the unions but more about the credit crunch.... union ,nonunion, foreign or domestic automobiles are not selling.
I loved the cartoon on the editorial page of the Victoria Advocate today. A picture can be worth a thousand words. Isn't it time some of those union jerks learned that a job with fewer perks is better than no job at all. Don't you wonder why car companies that operate in right to work states are not asking for handouts? Not providing a tax payer funded bailout doesn't mean the car companies will go out pof business or even have massive lay-offs, or at least they don't have to. File for bankruptcy and restructure. The most humorous thing of all is congress lecturing these CEOs on accountability, viability and "business". Most of the hypocritical whores in congress wouldn't know a business plan if it slapped them in the face.