Legacy Fan Posted June 10, 2009 Report Share Posted June 10, 2009 Hyperinflation as the culprit. From last night: Too big to bailout - not too big to fail. @3:10 By propping up companies that need to fail, we're preventing growth of other companies that could hire these people. The middle class suffers as they're stuck with the bill, while wall street is protected. @5:45 Gee. I wonder who was griping about this on this very forum not 2 days ago. Interesting & accurate Obama economic policy dig @6:28 Link to comment Share on other sites More sharing options...
Westside Steve Posted June 10, 2009 Report Share Posted June 10, 2009 Two thoughts. My broker told me that if you keep predicting recession sooner or later you'll be right. But I think this guy is right. Bailouts were likely a bad idea. I was wrong even with my lukewarm support. Now we need to identify the reasons that we don't manufacture anything and solve them. I don't think either party has the will to do what's needed, especially the one in power. WSS Link to comment Share on other sites More sharing options...
Kosar_For_President Posted June 10, 2009 Report Share Posted June 10, 2009 Great post Leg. Really puts stuff into perspective. Link to comment Share on other sites More sharing options...
BrownIndian Posted June 10, 2009 Report Share Posted June 10, 2009 The big 3 had to be questioned because they were in a loss for quite some time. it was not something that happened in a short span of time. Also the big 3 never really put out cars that the consumers wanted to buy - maybe they were just aiming for the wrong market. They lost their market share to Honda, Toyota, VW, Benz and even Hyundai and Kia. No offense to Hyundai but when u (big 3 + UAW) start losing ur market to Hyundai and Kia - who were set up more recently then rest assured it is a wake up call that u are really doing something wrong. The stock market had done better in boosting capitalism and entrepreneurship and is still the best way to do it. Sadly the corrupt ones got it and screwed it up. It is a lot easier to fix the stock market that the big 3. Link to comment Share on other sites More sharing options...
lambdo Posted June 10, 2009 Report Share Posted June 10, 2009 Two thoughts. My broker told me that if you keep predicting recession sooner or later you'll be right. But I think this guy is right. Bailouts were likely a bad idea. I was wrong even with my lukewarm support. Now we need to identify the reasons that we don't manufacture anything and solve them. I don't think either party has the will to do what's needed, especially the one in power. WSS Manufacturing outsourcing strictly due to high labor costs..I dunno if you can solve them apples... One possible way would be for gov't is set up tax incentives for those manufacturing industries that equal or are greater then the benefit of outsourcing. I just don't think you can cook the incentive high enough to keep the jobs here.. I would love to see the numbers on something like Gov't tax incentive to company for keeping manufacturing jobs in US minus the Tax obtained from keeping US manufacturing personel employed > then the Cost savings of outsourcing Could be bailout money spent directly on creating jobs... I do agree with the majority , that saving the Big 3 is going to do nothing but delay the inevitable.. Link to comment Share on other sites More sharing options...
Legacy Fan Posted June 10, 2009 Author Report Share Posted June 10, 2009 Thanks for the replies, fellas. I don't think it's our high labor costs per say. I think it's our mentality and corruption hat has caused the Big 3 to lose out. The UAW has handicapped our manufacturing (at least in this arena). The Honda & Toyota & Nissan plants here in the States -that employ Americans- aren't hamstringed by these ridiculous Union contracts that no longer benefit the member, but the leaders of the Union or the Union itself. Yet they still grow and employ "hard-working Americans." Right now, the problem is that the UAW is a more efficient rhetoric machine than our government is, so they are currently "winning" that battle. I guess the "Main st. vs. Wall street" rhetoric is still a big laugh-a-thon. Link to comment Share on other sites More sharing options...
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