Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

Treasury may bail out bad auto loans (GM/Chrysler merger)

Discussions about the economic and financial ramifications of PEAK OIL

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby smallpoxgirl » Wed 29 Oct 2008, 08:47:53

$this->bbcode_second_pass_quote('eastbay', 'I') seriously doubt actual personal car loans will get bailed out. That would be a serious stretch. Taxpayers would not like that one bit.


Funny how that works isn't it. If we were being taxed to pay off our neighbor's Hyundai we wouldn't tolerate that. Taxing us to buy pedicures to AIG executives seems to be no problem. We just seem to readily accept the idea that the government should take our money and give it to rich people as being part of the natural order of things.
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS
User avatar
smallpoxgirl
Expert
Expert
 
Posts: 7258
Joined: Mon 08 Nov 2004, 04:00:00

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Specop_007 » Wed 29 Oct 2008, 09:04:33

$this->bbcode_second_pass_quote('americandream', 'B')ailing out the failing businesses of the rich with the tax of the working man has nothing to remotely do with egalitarian labour socialism. In fact, it is the antithesis of labour socialism and is the early onset of full blown militant fascism.

Clearly if these measures fail, you can not only expect the full and complete sequestration of your taxes, but such an outcome under the barrel of a gun. And there will be nothing you or any half witted miitia will be able to do unless you are prepared to dispense with Rambo like individual and useless responses and organise by arming yourself with knowledge. Knowledge is the greatest weapon and one the elite fear above all else.


Its already collected at gun point. Dont pay your taxes, see what happens.

Otherwise knowledge is useless. Only because those who know dont have the courage (or stupidity) to act upon it. I'd rather have a dumbass with a gun ready to act then a scholar with no spine who knows.
"Battle not with monsters, lest ye become a monster, and if you gaze into the
Abyss, the Abyss gazes also into you."

Ammo at a gunfight is like bubblegum in grade school: If you havent brought enough for everyone, you're in trouble
User avatar
Specop_007
Expert
Expert
 
Posts: 5586
Joined: Thu 12 Aug 2004, 03:00:00

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Minvaren » Wed 29 Oct 2008, 09:41:52

$this->bbcode_second_pass_quote('smallpoxgirl', '')$this->bbcode_second_pass_quote('eastbay', 'I') seriously doubt actual personal car loans will get bailed out. That would be a serious stretch. Taxpayers would not like that one bit.


Funny how that works isn't it. If we were being taxed to pay off our neighbor's Hyundai we wouldn't tolerate that. Taxing us to buy pedicures to AIG executives seems to be no problem. We just seem to readily accept the idea that the government should take our money and give it to rich people as being part of the natural order of things.


Derrick Jensen, in his voluminous tome "Endgame: The Problem of Civilization" states this as one of his tenets. People higher in the order are allowed to take from those lower in the order, whereas if the reverse happens the lower-statused person gets attacked or even killed. But the only thing that differentiates the two groups are some pieces of green paper that aren't even real wealth.

When financial agencies sell their bad loans, they generally get pennies on the dollar for it. The exact amount depends on how likely the purchaser thinks it is that they'll be able to recoup the investment (via collection or legal methods) and make a decent profit. If the government comes in and pays anything near value for these loans, the execs will be chuckling with a nice little bonus all the way to retirement.
User avatar
Minvaren
Peat
Peat
 
Posts: 162
Joined: Sun 25 Sep 2005, 03:00:00
Location: Planet Houston

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby jasonraymondson » Wed 29 Oct 2008, 10:03:45

$this->bbcode_second_pass_quote('Novus', '')$this->bbcode_second_pass_quote('emersonbiggins', '
')
How long until we go ahead and formally adopt the hammer and cicle for our national symbol?


Why do you and others keep saying this is communism/socialism.

This is not socialism.

If this were socialism the government would let the corps fail and issue dole for the unemployed and state housing for the newly foreclosed homeless.

What is going on in American is Corporate Fascism.

This is the new American flag.

Image


From Disturbed's "Land of Confusion" cover
[flash width=425 height=355]http://www.youtube.com/v/gFR9eYrOfas&hl=en&fs=1[/flash]

Shows how the corporations own the world governments and how the people have been thrown under the tire of the military industrial complex.

Unfortunatly, the people have no hero, let alone a super power monster dude to give them hope.
jasonraymondson
Permanently Banned
 
Posts: 2727
Joined: Wed 04 Jul 2007, 03:00:00
Location: Peace Out
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby emersonbiggins » Wed 29 Oct 2008, 10:27:57

$this->bbcode_second_pass_quote('Novus', '
')What is going on in American is Corporate Fascism.

Image


+1, Novus.

I use the term "socialism" because it engenders such rage here in the U.S., a country supposedly predicated on the antithesis of a collective order.

What is actually occurring is fascism, yes, but even that term comes with a fair amount of ambiguity and the connotation of Nazism.
"It's called the American Dream because you'd have to be asleep to believe it."

George Carlin
User avatar
emersonbiggins
Expert
Expert
 
Posts: 5150
Joined: Sun 10 Jul 2005, 03:00:00
Location: Dallas
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby IgnoranceIsBliss » Wed 29 Oct 2008, 13:22:02

"Separately, the Wall Street Journal reported the Energy Department is working to release $5 billion in loans to GM to help it finance the merger. The money, according to the report citing a person familiar with the matter, would come from $25 billion in financing approved by Congress last month to help domestic manufacturers make more fuel efficient cars."

What a joke. Fuel efficient cars = just slightly better gas mileage when averaged as a fleet

GM needs to have it's feet held to the fire & be forced to develop alternative FUELS if they are going to accept bailout money. Our money = we call the shots

No more resistance and no more buying technology and sitting on it

Yeah, when pigs fly...
User avatar
IgnoranceIsBliss
Lignite
Lignite
 
Posts: 343
Joined: Wed 23 Apr 2008, 03:00:00
Location: Georgia, USA

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Revi » Wed 29 Oct 2008, 13:30:31

Why should we bail out GM? Why not give the money to people who are interested in making vehicles that use a lot less energy? Why not give the money to Zap, or Aptera?

To heck with GM. They are so 20th century.

We need new vehicles that get about 250 mpg equivalent.

Dinosaurs went extinct for a reason.
Deep in the mud and slime of things, even there, something sings.
User avatar
Revi
Light Sweet Crude
Light Sweet Crude
 
Posts: 7417
Joined: Mon 25 Apr 2005, 03:00:00
Location: Maine

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Specop_007 » Wed 29 Oct 2008, 14:12:15

$this->bbcode_second_pass_quote('Minvaren', '
')
Derrick Jensen, in his voluminous tome "Endgame: The Problem of Civilization" states this as one of his tenets. People higher in the order are allowed to take from those lower in the order, whereas if the reverse happens the lower-statused person gets attacked or even killed. But the only thing that differentiates the two groups are some pieces of green paper that aren't even real wealth.

When financial agencies sell their bad loans, they generally get pennies on the dollar for it. The exact amount depends on how likely the purchaser thinks it is that they'll be able to recoup the investment (via collection or legal methods) and make a decent profit. If the government comes in and pays anything near value for these loans, the execs will be chuckling with a nice little bonus all the way to retirement.


I'm unaware of any instances of people higher up on the chain taking from those lower down. Additionally, those lower down have beena huge drag on the system for decades, so I realyl have little problem with those higher up finally getting a piece of the pie.
"Battle not with monsters, lest ye become a monster, and if you gaze into the
Abyss, the Abyss gazes also into you."

Ammo at a gunfight is like bubblegum in grade school: If you havent brought enough for everyone, you're in trouble
User avatar
Specop_007
Expert
Expert
 
Posts: 5586
Joined: Thu 12 Aug 2004, 03:00:00
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Twilight » Wed 29 Oct 2008, 14:57:39

$this->bbcode_second_pass_quote('emersonbiggins', 'W')hat is actually occurring is fascism, yes, but even that term comes with a fair amount of ambiguity and the connotation of Nazism.

I get the feeling inter-war Spain, Italy and the Weimar Republic are not taught at school these days. Everyone's first reaction is "ah, fascism, like the Nazis" obviously not knowing what the word means.
Twilight
Expert
Expert
 
Posts: 3027
Joined: Fri 02 Mar 2007, 04:00:00
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby emersonbiggins » Wed 29 Oct 2008, 16:10:55

$this->bbcode_second_pass_quote('Twilight', '')$this->bbcode_second_pass_quote('emersonbiggins', 'W')hat is actually occurring is fascism, yes, but even that term comes with a fair amount of ambiguity and the connotation of Nazism.

I get the feeling inter-war Spain, Italy and the Weimar Republic are not taught at school these days. Everyone's first reaction is "ah, fascism, like the Nazis" obviously not knowing what the word means.


I'm just intimating the impression I get from my countrymen. :)
"It's called the American Dream because you'd have to be asleep to believe it."

George Carlin
User avatar
emersonbiggins
Expert
Expert
 
Posts: 5150
Joined: Sun 10 Jul 2005, 03:00:00
Location: Dallas
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Twilight » Wed 29 Oct 2008, 16:23:02

$this->bbcode_second_pass_quote('emersonbiggins', 'I')'m just intimating the impression I get from my countrymen. :)

I'm sure you know, and my impression is the same here too. Maybe in Europe it is more of a studied ignorance, people not wanting to look too closely.
Twilight
Expert
Expert
 
Posts: 3027
Joined: Fri 02 Mar 2007, 04:00:00
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby gnm » Wed 29 Oct 2008, 16:33:28

$this->bbcode_second_pass_quote('Specop_007', 'I')'m unaware of any instances of people higher up on the chain taking from those lower down. Additionally, those lower down have beena huge drag on the system for decades, so I realyl have little problem with those higher up finally getting a piece of the pie.


What do you call the bailouts then Spec? I'm a hell of a lot lower down than those A-holes at AIG and I have NEVER been a drag on the system. Nonetheless my pockets and my childrens pockets have just been picked.

-G :-x
gnm
 
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Brandon26pdx » Wed 29 Oct 2008, 17:58:59

Image
User avatar
Brandon26pdx
Wood
Wood
 
Posts: 10
Joined: Mon 27 Oct 2008, 03:00:00

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby smallpoxgirl » Wed 29 Oct 2008, 18:09:14

$this->bbcode_second_pass_quote('jasonraymondson', 'F')rom Disturbed's "Land of Confusion" cover


Whoa. Intense video. Very cool.
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS
User avatar
smallpoxgirl
Expert
Expert
 
Posts: 7258
Joined: Mon 08 Nov 2004, 04:00:00
Top

Re: Treasury may bail out bad auto loans (GM/Chrysler merger

Postby Graeme » Mon 24 Nov 2008, 01:00:22

Obama aide promotes job plan, warns automakers

$this->bbcode_second_pass_quote('', 'A')xelrod warned automakers, seeking billions in government help to stave off collapse, to devise a plan to retool and restructure by next month. Otherwise, he said, "there is very little taxpayers can do to help them."

Axelrod couldn't resist taking a jab at the Big Three executives, who left Congress empty-handed last week after flying into Washington in corporate jets and pleading for money. "I hope that they will come back to Washington in early December — on commercial flights — with a plan," he said.


AP

americanchronicle
Human history becomes more and more a race between education and catastrophe. H. G. Wells.
Fatih Birol's motto: leave oil before it leaves us.
User avatar
Graeme
Fusion
Fusion
 
Posts: 13258
Joined: Fri 04 Mar 2005, 04:00:00
Location: New Zealand
Top

GM +Chrysler close down North American factories for January

Postby Sixstrings » Sat 13 Dec 2008, 09:19:51

$this->bbcode_second_pass_quote('', 'G')eneral Motors (NYSE:GM) said it will shut down virtually all of its North American plants for January, cutting another 250,000 vehicles from its first-quarter production schedule by temporarily closing 21 factories.

Some production, however, will continue at GM's plants in Ontario, said Stew Low, spokesman for General Motors of Canada.


http://www.google.com/hostednews/canadi ... VNfv2lsreA
User avatar
Sixstrings
Fusion
Fusion
 
Posts: 15160
Joined: Tue 08 Jul 2008, 03:00:00
Top

Re: GM to close down North American factories for January

Postby cipi604 » Sat 13 Dec 2008, 11:28:02

$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('', 'G')eneral Motors (NYSE:GM) said it will shut down virtually all of its North American plants for January, cutting another 250,000 vehicles from its first-quarter production schedule by temporarily closing 21 factories.

Some production, however, will continue at GM's plants in Ontario, said Stew Low, spokesman for General Motors of Canada.


http://www.google.com/hostednews/canadi ... VNfv2lsreA

Blame Canada!
User avatar
cipi604
Tar Sands
Tar Sands
 
Posts: 818
Joined: Tue 14 Aug 2007, 03:00:00
Location: Montreal Canada
Top

Re: GM to close down North American factories for January

Postby Sixstrings » Sat 13 Dec 2008, 16:44:50

I think the Canadians passed some kind of auto bailout on their own, so showing preferance for Canadian factories would make sense.

Ya gotta pay to play, after all. :)
User avatar
Sixstrings
Fusion
Fusion
 
Posts: 15160
Joined: Tue 08 Jul 2008, 03:00:00

Re: GM to close down North American factories for January

Postby idiom » Sat 13 Dec 2008, 16:49:02

The easy way into bankruptcy. 'Temporarily' shut everything down, hire other people to 'renovate' the factories after stripping them, then never open the factories again.

No riots, no lock outs, no shoes going into machines...
The world ends without a tragedy,Time is melting into history
The sky is falling, Voices crying out in desperation
Hear them calling, Everybody, save yourself
User avatar
idiom
Tar Sands
Tar Sands
 
Posts: 672
Joined: Mon 23 Aug 2004, 03:00:00
Location: New Zealand

Re: GM to close down North American factories for January

Postby Snowrunner » Sat 13 Dec 2008, 22:52:46

$this->bbcode_second_pass_quote('Sixstrings', 'I') think the Canadians passed some kind of auto bailout on their own, so showing preferance for Canadian factories would make sense.

Ya gotta pay to play, after all. :)


It's a conditional one, as I understand it hinges on the US passing theirs.

But then again, Flaherty is the one with the checkbook, I am sure his buddies are knocking daily on his door and he'll give them money. Not that the average Canadian will benefit from it, just look at his "Common Sense" in Ontario and what he left the next Goverment with hit.

Canada could not have a worst Government at the helm at this point in time.
User avatar
Snowrunner
Tar Sands
Tar Sands
 
Posts: 795
Joined: Wed 24 Aug 2005, 03:00:00
Location: Screwed
Top

PreviousNext

Return to Economics & Finance

Who is online

Users browsing this forum: No registered users and 131 guests