Predictions for Obama admin

[Flyer_PE]

^^ I heard this morning that Circuit City claims they delayed their announcement so as not to adversely affect the election. WTF? If we announce we are TU, "our guy" may lose. Somehow I don't think it made any difference.

 

[Chucktown PE]

Look folks, we have already begun the slide down the slippery slope. American Express was just given bailout status. So know we, as taxpayers, will be paying delinquent credit card bills in addition to the delinquent mortgages. So why not bail out the automakers as well. Since we are in the business of preventing poorly run businesses from failing, I might open a little shit box business, run it into the ground, then go piss and moan to the taxpayers about how someone should help me wipe my ass. WHEN ARE PEOPLE IN THIS COUNTRY GOING TO WAKE UP?

Just remember, this country wasn't intended to be a democracy, it was founded as a republic. Unfortunately it has turned into a democracy. I have posted this before but this should scare the shit out of everyone with half a brain whether you are a Republican, Democrat, or whatever, this quote is most often attributed to someone named Alexander Tyler writing in 1787 about the fall of the Athenian Republic. I think we are witnessing the beginning of the end of the United States of America.

"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship."

 

[wilheldp_PE]

the japanese car countries probably dont have unions?

Exactly.

if we bailout the auto industry, why not Circuit City?

Exactly.

 

[Flyer_PE]

"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship."

Sadly, there are a lot of people out there that think that if it is provided by the government, it must be free. Somebody somewhere has to bear the costs. The 'rich' are not an inexhaustible resource.

 

[Wolverine]

Continuing the tirade, it is POOR FINANCIAL PLANNING AND OVEREXTENSION OF CREDIT that has been a major contributor to the economic difficulty we are seeing (sorry 'bout the yelling). And now the solution is overextended credit and poor financial planning? Right, exactly.

 

[cement]

and the 'test of leadership' that Biden (remember him?) promised is sure to help the econimic picture as well.

 

[Flyer_PE]

^^ As I remember Senator Foot-In-Mouth also went on to blather about their response to said test will likely be unpopular.

 

[wilheldp_PE]

Sadly, there are a lot of people out there that think that if it is provided by the government, it must be free. Somebody somewhere has to bear the costs. The 'rich' are not an inexhaustible resource.

That's because the people who benefit the most from government services do receive them for free (i.e. no taxes paid).

 

[Dleg]

Wolverine, I sincerely hope that you don't subscribe to such obviously flawed logic as to believe that a "leak" about a bailout discussion with Bush will somehow equate to a leak of important miltary secrets to our enemies.

Here's an interesting opinion piece from Newsweek about the so-called "rich" voting for Obama.

 

[DVINNY]

I bought GM stock today. Honest.

If they bail them out, I want them to SHARE THE WEALTH my way!!!!!!!!!!!!!!!!!!!!!

I got it for 2.90 a share today.

 

[benbo]

I bought GM stock today. Honest.

If they bail them out, I want them to SHARE THE WEALTH my way!!!!!!!!!!!!!!!!!!!!!

I got it for 2.90 a share today.

I was waiting for them to hit $0. Then I was going to lauch a hostile takeover. Just call me T. Boone Benbo.

 

[wilheldp_PE]

"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship."

The continuation of that quote...

"The average age of the world's greatest civilizations from the beginning of history has been about 200 years. During those 200 years, these nations always progressed through the following sequence:

* From bondage to spiritual faith;

* From spiritual faith to great courage;

* From courage to liberty;

* From liberty to abundance;

* From abundance to complacency;

* From complacency to apathy;

* From apathy to dependence;

* From dependence back into bondage."

I'd say we're somewhere between dependence and bondage right now.

 

[Dleg]

I'd say somewhere closer to complacency.

 

[Road Guy]

good grief, I heard some guy on CNN last night saying if GM goes under it will be a "failure of George W." jesus I can see placing blame on him for some things but at some point in time you have to stand up and look in the damn mirror Detroit.

 

[wilheldp_PE]

good grief, I heard some guy on CNN last night saying if GM goes under it will be a "failure of George W." jesus I can see placing blame on him for some things but at some point in time you have to stand up and look in the damn mirror Detroit.

Personal responsibility is dead in this country. If you screw up and fail, it is the government's fault, and their responsibility to fix it.

 

[Flyer_PE]

^^ I wasn't aware that W was running GM. I figured enlarging the federal government pretty much took up all of his time. The 'to big to fail' argument is getting pretty stale. The consequences for bad business decisions should not be checks from Uncle Sam.

 

[Capt Worley PE]

the japanese car countries probably dont have unions?

if we bailout the auto industry, why not Circuit City?

Because Circuit City is retail. The workers can easily find new jobs and the goods will just be bought elsewhere.

The auto industry has millions of specially trained workers and they produce a product.

 

[Chucktown PE]

I think we're all in agreement here but we have no hope of stopping this shit. Our government didn't listen to us with the last bailout, the AIG bailout, the Fannie and Freddie Bailout, the airline bailouts, etc. so they certainly aren't going to listen to us with this bailout. In addition, now the democrats have an even greater incentive to make sure this goes through. The UAW supports it and the UAW supports the democrats, ergo, the democrats support the bailout. Not saying republicans are any better here but how in the hell is this W's fault?

 

[Capt Worley PE]

I got it for 2.90 a share today.

Shoot, you can buy both a GM stock and a Ford stock for about five bucks altogether.

Then again, I though GM was a good buy at 20.

 

[Chucktown PE]

http://www.cnbc.com/id/27641538

This could be a serious problem. I am not blaming any party but our elected officials are entirely to blame for this. Read my previous post about loose monetary policy, then look at this. It isn't that hard to connect the dots. The end may be nigh. I certainly believe it will be within my lifetime but may be even sooner. Once we lose our AAA rating the interest rates go up. We already spend 20% of our federal budget just paying interest on the debt. What happens when that figure goes up? The government isn't going to slow down spending so the compounding effect will be tremendous, the credit rating will fall further, and the downward spiral accelerates. I hate to preach doom and gloom but think about your families and whether or not it is worth it to start making preparations in case the worse happens.