Bailing out the auto industry where do you stand?

My first reflex opinon, was no, but watching what's happening with our economy, I've now changed my position.

I watched right after 09/11 and one of the first things the administration did was bail out the airlines.

Well today we are in crisis, an economic one, why are we so against aiding one of the few remaining industries in the US? Because we are already spending to bailout Wall Street?

If the big three go under, hundreds of thousands of jobs are lost, billions will be lost in tax revenue, how is that going to improve the economic situation, won't Wall Street react on those figures and decline even further?

 

what are they supposed to do? if they give the auto industry a bailout it will mean nothing until the rest of the economy recovers to spur auto sales..
its no different than the banks bailout,it will only prolong the inevitable and make the end result worse IMO..

oh and BTW,the estimated number of jobs that will be lost in the auto industry is 2.5 million,not hundreds of thousands..

 

I stand corrected.

But I still don't see how letting one of the few remaining industries fail is going to turn the economy around.

I would have rather seen the taxpayers bailout an industry that actually produces tangible goods, then throw money down an unregulated financial hole(system), that doesn't seem to even view changing their ways as an option.

 

the point is they are going to fail no matter what.. what good does giving them loans do if the cars they produce do not have a market?

in the end it would be cheaper just to pay the auto workers their salaries to sit at home..

 

GM is the second largest automotive producer in the world, do we want to lose that?

 

What productive work do you see for US citizens?

 

They don't have to fail, anymore than the airlines were allowed to fail after 09/11. They received aid to see them through a crisis, why is this different?

What jobs are our citizens including returning veterans going fill? How can we be expected to continue to consume when we no longer have any sense of job security?

What is Wall Street doing with their billions? What tangible goods are they producing, or are they still just trading in debt swaps?

 

wall streets billions are being vaporized.. there will be no new jobs for a very long time.. did you not see what gerald celente predicted this week? he predicted we will become the first unindustrialized nation ever..

i made this post earlier this week..pretty grim stuff..

https://www.youtube.com/watch?v=46MEqEgdLTg

In a separate recent interview, Celente went further on the subject of revolution in America.

​

Quote:
“There will be a revolution in this country,” he said. “It’s not going to come yet, but it’s going to come down the line and we’re going to see a third party and this was the catalyst for it: the takeover of Washington, D. C., in broad daylight by Wall Street in this bloodless coup. And it will happen as conditions continue to worsen.”
​

Quote:

“The first thing to do is organize with tax revolts. That’s going to be the big one because people can’t afford to pay more school tax, property tax, any kind of tax. You’re going to start seeing those kinds of protests start to develop.”

“It’s going to be very bleak. Very sad. And there is going to be a lot of homeless, the likes of which we have never seen before. Tent cities are already sprouting up around the country and we’re going to see many more.”​

“We’re going to start seeing huge areas of vacant real estate and squatters living in them as well. It’s going to be a picture the likes of which Americans are not going to be used to. It’s going to come as a shock and with it, there’s going to be a lot of crime. And the crime is going to be a lot worse than it was before because in the last 1929 Depression, people’s minds weren’t wrecked on all these modern drugs – over-the-counter drugs, or crystal meth or whatever it might be. So, you have a huge underclass of very desperate people with their minds chemically blown beyond anybody’s comprehension.”​

who is gerald celente you ask?

Celente, successfully predicted the 1997 Asian Currency Crisis, the subprime mortgage collapse and the massive devaluation of the U.S. dollar, told UPI in November last year that the following year would be known as “The Panic of 2008,” adding that “giants (would) tumble to their deaths,” which is exactly what we have witnessed with the collapse of Lehman Brothers, Bear Stearns and others. He also said that the dollar would eventually be devalued by as much as 90 per cent.

The George Washington blog has compiled a list of quotes attesting to Celente’s accuracy as a trend forecaster.​

“When CNN wants to know about the Top Trends, we ask Gerald Celente.”
— CNN Headline News​

“A network of 25 experts whose range of specialties would rival many university faculties.”
— The Economist
“Gerald Celente has a knack for getting the zeitgeist right.”
— USA Today
“There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about.”
- CNBC
“Those who take their predictions seriously … consider the Trends Research Institute.”
— The Wall Street Journal
“Gerald Celente is always ahead of the curve on trends and uncannily on the mark … he’s one of the most accurate forecasters around.”
— The Atlanta Journal-Constitution
“Mr. Celente tracks the world’s social, economic and business trends for corporate clients.”
— The New York Times
“Mr. Celente is a very intelligent guy. We are able to learn about trends from an authority.”
— 48 Hours, CBS News
“Gerald Celente has a solid track record. He has predicted everything from the 1987 stock market crash and the demise of the Soviet Union to green marketing and corporate downsizing.”
— The Detroit News
“Gerald Celente forecast the 1987 stock market crash, ‘green marketing,’ and the boom in gourmet coffees.”
— Chicago Tribune
“The Trends Research Institute is the Standard and Poors of Popular Culture.”
— The Los Angeles Times
“If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.”
— New York Post
​

So there you have it - hardly a nutjob conspiracy theorist blowhard now is he?

 

Source.

 

If a company gets so big that its failure can cause economic ruin to the entire country, it should be broken up.

 

from what i gather the falling price of oil is going to be just as devastating as a whole to the economy as the collapse of the auto industry..

i havent researched it myself,as i said its just what i gather from reading others opinions.. from what i understand they are shutting down and laying off oil workers in record numbers as we speak. the same loss of tax base etc. is happening to states where oil is big business just as with the auto industry..

the reality is there is just to much to bail out.

 

Just the opposite is true,


http://article.wn.com/view/2008/11/10/Consultant_Rig_demand_should_remain_strong/

Despite low oil prices, subsea work in demand

http://www.energycurrent.com/index.php?id=2&storyid=13990

When oil drops(and stays) under $60 a barrel we will see a drop in oil worker demand.

 

ive just saw what people who work on the rigs are saying on forums. they are saying layoffs are already taking place on a large scale and if oil continues to fall its going to get much worse..

 

in regards to the articles,one didnt even mention the united states and you gotta remember the oil industry here is much bigger than just the deep sea oil rigs in fact i think deep water drilling is a smaller percentage of the total but im sure youll correct me on that if im wrong .

 

have a link?


I'M originally from Missouri, the Show Me State

 

i dont care where you are from im not digging through all the other forums i frequent to find threads just to satisfy you..

 

How about, instead of me proving YOUR statements true or false, why not, YOU back up some of your claims(note i said "some")

 

LOL, i knew you had NOTHING.

Of course you bring hearsay to the table and expect facts with links from Me.

In fact? wheres the facts?????

 

i never said my statements were fact i said its what i have read from posters on other boards that work in the oil fields..

dont believe it if you dont want to.
i really could care less...

 

and i dont expect anything from you accept to be your usual troll self..