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#1
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No brainer!
This article:
http://www.telegraph.co.uk/news/worl...m-economy.html says US carmaker failure could cut 4% from the GDP. But the cost of a bailout is no less than 6% of GDP! No brainer! Let them go bankrupt! |
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#2
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No brainer!
Dave wrote:
On Thu, 20 Nov 2008 13:53:24 -0700, "Charles Momsen" said: says US carmaker failure could cut 4% from the GDP. But the cost of a bailout is no less than 6% of GDP! No brainer! Looks as if even the Dems may have figured that out. But of course saying so would tick off the UAW, so we now have an elaborate charade in progress, with the Dem politicians saying they won't back the bailout because the auto execs flew into Washington on company planes instead of taking commercial flights. They're creating a great comedy routine. I think you should check out your nurse Dave, I think she's slipping something into your metamucil.... Cheers Martin |
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#3
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No brainer!
Charles Momsen wrote:
This article: http://www.telegraph.co.uk/news/worl...m-economy.html says US carmaker failure could cut 4% from the GDP. But the cost of a bailout is no less than 6% of GDP! No brainer! Let them go bankrupt! I believe this underestimates the effect. While the loss caused directly by the personnel working for the big 3 maybe only 4%. There are other losses that are not being considered. In an area like Indianapolis there are many business that are dependent on the auto industry. The prepared food industry will be hit hard as layoff will directly effect them. There are similar industries that will be effected that are several generation removed from the company manufacturing cars. The other cost is a general cost. When polosi caused the failure of the first bailout bill the market lost about 30% in 15 days. The market has not recovered. I have seen data indicating that if the auto industry is not bailed out, the stock market will loose another 2000 points. As I remember about the time of polosi's tantrum, 401k plans had lost nearly 4 trillion dollars. With the subsequent losses in the market it is many times that in all of the companies that have been effected by the democrats bad mortgages, and the lack of credit. |
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#4
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No brainer!
Keith nuttle wrote:
Charles Momsen wrote: This article: http://www.telegraph.co.uk/news/worl...m-economy.html says US carmaker failure could cut 4% from the GDP. But the cost of a bailout is no less than 6% of GDP! No brainer! Let them go bankrupt! I believe this underestimates the effect. While the loss caused directly by the personnel working for the big 3 maybe only 4%. There are other losses that are not being considered. In an area like Indianapolis there are many business that are dependent on the auto industry. The prepared food industry will be hit hard as layoff will directly effect them. There are similar industries that will be effected that are several generation removed from the company manufacturing cars. The other cost is a general cost. When polosi caused the failure of the first bailout bill the market lost about 30% in 15 days. The market has not recovered. I have seen data indicating that if the auto industry is not bailed out, the stock market will loose another 2000 points. As I remember about the time of polosi's tantrum, 401k plans had lost nearly 4 trillion dollars. With the subsequent losses in the market it is many times that in all of the companies that have been effected by the democrats bad mortgages, and the lack of credit. Just for the record the market lost another 6% today. That is another 2000 points since election day. It has now lost nearly 50% of its value since the end of polosi's 100 days. I believe that is slightly more than 4%GDP Every day that congress drags its feet the market suffers. The 50% is the largest losses since the depression in the 1930's when the market lost 80% of its value, and the only thing that turned it around was a war. |
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#5
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No brainer!
"Marty" wrote in message
... Dave wrote: On Thu, 20 Nov 2008 13:53:24 -0700, "Charles Momsen" said: says US carmaker failure could cut 4% from the GDP. But the cost of a bailout is no less than 6% of GDP! No brainer! Looks as if even the Dems may have figured that out. But of course saying so would tick off the UAW, so we now have an elaborate charade in progress, with the Dem politicians saying they won't back the bailout because the auto execs flew into Washington on company planes instead of taking commercial flights. They're creating a great comedy routine. I think you should check out your nurse Dave, I think she's slipping something into your metamucil.... Cheers Martin Especially since Pelosi just said that if the Big 3 don't have a plan, they won't get the cash. I believe the deadline is 12/3. -- "j" ganz @@ www.sailnow.com |
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#6
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No brainer!
"Keith nuttle" wrote in message
... I believe this underestimates the effect. While the loss caused directly by the personnel working for the big 3 maybe only 4%. There are other losses that are not being considered. In an area like Indianapolis there are many business that are dependent on the auto industry. The prepared food industry will be hit hard as layoff will directly effect them. There are similar industries that will be effected that are several generation removed from the company manufacturing cars. Yup. The other cost is a general cost. When polosi caused the failure of the first bailout bill the market lost about 30% in 15 days. The market has not recovered. I have seen data indicating that if the auto industry is not bailed out, the stock market will loose another 2000 points. As I remember about the time of polosi's tantrum, 401k plans had lost nearly 4 trillion dollars. With the subsequent losses in the market it is many times that in all of the companies that have been effected by the democrats bad mortgages, and the lack of credit. Don't be a dope. McCain solved the economic crisis, despite Pelosi. LOL -- "j" ganz @@ www.sailnow.com |
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#7
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No brainer!
"Keith nuttle" wrote in message
... Keith nuttle wrote: Charles Momsen wrote: This article: http://www.telegraph.co.uk/news/worl...m-economy.html says US carmaker failure could cut 4% from the GDP. But the cost of a bailout is no less than 6% of GDP! No brainer! Let them go bankrupt! I believe this underestimates the effect. While the loss caused directly by the personnel working for the big 3 maybe only 4%. There are other losses that are not being considered. In an area like Indianapolis there are many business that are dependent on the auto industry. The prepared food industry will be hit hard as layoff will directly effect them. There are similar industries that will be effected that are several generation removed from the company manufacturing cars. The other cost is a general cost. When polosi caused the failure of the first bailout bill the market lost about 30% in 15 days. The market has not recovered. I have seen data indicating that if the auto industry is not bailed out, the stock market will loose another 2000 points. As I remember about the time of polosi's tantrum, 401k plans had lost nearly 4 trillion dollars. With the subsequent losses in the market it is many times that in all of the companies that have been effected by the democrats bad mortgages, and the lack of credit. Just for the record the market lost another 6% today. That is another 2000 points since election day. It has now lost nearly 50% of its value since the end of polosi's 100 days. I believe that is slightly more than 4%GDP Every day that congress drags its feet the market suffers. The 50% is the largest losses since the depression in the 1930's when the market lost 80% of its value, and the only thing that turned it around was a war. It must be Obama's fault. After all, he's not the president. Dick (I've been indicted, along with my buddy Al) Cheney is. Too bad the judge didn't issue an arrest warrant. He's clearly a flight risk... he might go to his undisclosed location. LOL -- "j" ganz @@ www.sailnow.com |
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#8
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No brainer!
Dave wrote:
On Thu, 20 Nov 2008 17:38:16 -0500, Marty said: I think you should check out your nurse Dave, I think she's slipping something into your metamucil.... I think you should lay off the ad hominem attacks, Marty, and substitute something more reasoned. Something more reasoned? You mean like your paranoid delusion that the UAW and the Teamsters are running the world and are responsible for the financial catastrophe we are currently undergoing? You are starting to sound like Larry, oh I know it's an ad hominem, only ok when you deliver them.... Cheers Martin |
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#9
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No brainer!
Keith nuttle wrote:
Just for the record the market lost another 6% today. That is another 2000 points since election day. It has now lost nearly 50% of its value since the end of polosi's 100 days. I believe that is slightly more than 4%GDP Every day that congress drags its feet the market suffers. You left out "at the end of the most obstructionist Senate in the history of the Congress",, never has an elected majority had it's will so thwarted in 300 years of American history.... Cheers Martin |
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#10
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No brainer!
"Dave" wrote in message
news  On Thu, 20 Nov 2008 15:15:44 -0800, "Capt. JG" said: Especially since Pelosi just said that if the Big 3 don't have a plan, they won't get the cash. I believe the deadline is 12/3. Clever ploy. When the big 3 come back for another round for twice as much money after the first round doesn't do the job, she can always say "Not my fault. I was brainwashed into thinking their plan would work." So, you now believe they *should* get the bailout, but with no strings. Seems a bit contradictory, given the noise you've been making in the other thread! -- "j" ganz @@ www.sailnow.com |
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