Sunday, December 7, 2008

NO BAIL-OUT FOR AUTO MAKERS!


I have supported all the previous bail-outs, but recent data has shown that the recession that we have been in for the last year is an economic cycle that is normal on most accounts. Therefore, the bail-outs will probably not work like they are supposed to. Economists are saying that this natural fluctuation we are experiencing is the economy fixing itself from strained and rapid inflation. It is an economic cycle that happens every few years or so. So why is it we are in a panic? Because the media and now our President elect has told us to be in one. Obama going on "Meet the Press" today telling the American people the economy is gonna get worse is irresponsible at best. There is a psychological aspect of this so-called crisis that can be controlled by the President-elect. His reassurance is what Americans want and is one of the ways that will eventually help the economy along on its way to recovery. Why is it I feel like he is buying himself a little insurance or possibly assigning future credit to himself by not stating what many economists are saying...that the economy is already fixing itself and on the upswing? I find this disturbing and disingenuous to maintain and validate such a doomsday persona of the situation. This is the picture he and the media want us to see and this is how the Obama Presidency will be. A play on a stage. We will be duped by the media and this President as he will continue to battle his far-reaching agenda of magical transformation under his tenure. His unseen hand guiding the economy will undoubtedly be given credit for what is already naturally happening. Economics 101 teaches that the economy is always an ebb and flow of natural and unnatural consequences. Those who give the President and our government too much power will be the ones who expect far more than their leaders can deliver. Not from Obama, because the illusion is too deep in the minds of his followers and the media will make sure of his success. His accountability will be minute. Bush will continue to be blamed for the next 4 to 8 years.
I must ask the question of why there are only 3 automakers that are suffering at this time? Where is Honda, Nissan and many others who have used innovative technology to change and grow with the times? And let's get rid of the unions that are money sucking entities and worthless. They are the biggest problem I see with these automakers. Unions are little communist organizations who in their time were practical and worked for the working man and woman. But now they are corporate leeches that strain many companies profits and do more damage than good. These fat cats that showed up on capital hill in private jets need to sell those jets and like President Bush said "its time to trim the fat". I feel for the employees of these companies, but they should look at ridding the burden of the unions.
This is where I sit...No bail-out, unless of course some of the money is heading my way in the form of an auto loan at very little interest. The auto industry is one of the most crooked industries in America. Who hasn't bought a car and immediately after felt like they needed to call the rape crisis center. its a screw job all the way around. So bail us all out. It is the tax-payers money. Give us 25 grand a piece to go buy a car with no interest and no monthly payment. Now that's what I call a bailout. Its a win win. And don't get me started on the biggest crooks in the banking and auto industry...the credit bureaus. All three of them are the biggest jokes on the planet. That is a cause I would support. Regulating Trans-Union and the other 2 scumbuckets. They have way too much power. Stick your FICO score where the sun doesn't shine. They are evil and must be destroyed. NO MORE!

17 comments:

ba and the boys said...

the auto makers dont have to worry nik-just like everyone-obama will be paying their bills too. isnt that what he promised?!?!?

namaste said...

LOL! On your rape crisis remark about the auto industry. Since we can’t beat em, I wish someone would tell me how I can get in on the credit bureau racket. As long as I don’t have to maime or kill anyone, I’ll do whatever they want me to do.

Excellent rant, nik. Woo-hoo!

Dan said...

I hadn't thought of the question "why are these three" the ones in trouble. You answered it correctly, there can be no doubt that the unions are playing a major part in their demise. But hey, for many union memebers sitting at home watching Jerry Springer every day for eighty a year, this is a nice little gravy train.

Tapline said...

I wonder what Ford in Canada is doing...or Brazil???Nice new factory down there.....don't know about the rest of the world, but I assume they have factories all over they certainly have parts made there and shipped back into the US for assembly.....stay well....Oh!!Im with you not bailout...bankruptsy, not bailout.....But I think someone has a payback coming......stay well..

Mad Hatter said...

if the manufacturers want to fix the sales problems, they need to drop the prices of these over priced cars. Take the prices down and watch the sales go up. 30k for a car, 60k for a SUV please !!

Sandi said...

My gut level reaction is to tell the Big 3 to take a hike! The only downside is how this will trickle down and impact so many workers in the auto industry, and in all the industries that feed them. But, if they do get money, it damn well better be with huge strings attached like all the CEO's get fired and new ones put in place, reorganize the companies so they can be profitable like Honda and Nissan and make fuel-efficient cars. They insisted for so long that Americans didn't want or need fuel-efficient cars. Now they are in the hole.

And don't even get me started about the unions!

It's Me said...

this nation is 11 trillion dollars in debt. that would roughly amount to losing 1 million dollars a day since the birth of Christ to today. the national debt increases by approx 3 billion dollars per day....

it's getting better? how? our newly elected president is walking into bankruptcy if ya ask me.

Righty64 said...

Nikki, President-elect Obama going on Meet The Depress is like having Goebbels ask The Fueher questions during the height of Nazi power in Germany! But, I was against this whole bailoutmania. Because once it stops, no one knows where it will stop. Today, the Tribune company declared Chapter 11 bankrupcy protection. It is a huge media company. Many people will lose their jobs. Some parts of the empire will cease to exist. In the end, it will be what is needed so that the Tribune company can find a way to be profitable and produce good products. If it does not, it will fall. That is the chance that one, two or all three of the American auto makers need to do. Look at Chrysler. They went to the feds hat in hand in 1980, got a 1,200,000,000 bailout and 28 years later, they are back again. Again, where does this end? It should end in bankrupcy court!

Righty64 said...

Oops! Meant to type "Because once it STARTS, no one knows where it will stop" D'OH!

Khaki Elephant said...

Oddly, this is the one bailout I support . . . and yes, I'm "on the take" because I work in the industry.

First, it is not only the Big 3 that are hurting -- the Chinese gov is already bailing out their auto industry and the Japanese manufacturers are also facing a down turn. As far as foreign manufacturing of U.S. products: take a trip to Oakville, Ontario and look at the prime parking Ford of Canada layoffs have created.

My opinion is that we can't simply say that the auto industry should be allowed to fail because "that's capitalism" when they have been brought to the brink of extinction by anti-capitalistic practices like frivolous lawsuits, CAFE objectives, emission regulations, safety regulations and idiot proofing requirements that are continually forced on them before the technology exists for them to economically address the issues. Walmart doesn't have to face such ridiculous restrictions.

Oh, and it doesn't help that our non-existent energy policy has left the fate of the Big 3 in the hands of the distribution whims of foreign oil producers.

On top of that, we're talking the potential loss of 1 - 5 million jobs when you figure in the vendors and suppliers (including hundreds, perhaps thousands of small businesses) who have built their business around the auto industry.

Oh, and lastly (and then I promise to stop) the industry plays an important role in our national defense strategy and the nation's alternative fuel, communications and electronic technology research.

Nikki said...

Khaki, Thanks for bringing in the other side of this argument...there is always one of those! :)N

pnorris said...

I support whole heartedly your hatred of the blackmailing credit agencies. Who else could get away with pushing free credit reports for a low low subscription price of $50 a year?

'Hey, were selling your information and it's probably wrong. If you don't want you life ruined, pay us.'

t.durham said...

I think everyone is missing the point of the bailouts. Whenever the government hands out money in any amount there are strings attached.In reality what the government has done is bought a controlling interest in every industry it has "bailed out". It has in fact "nationalized" these industries. This is the road to socialism then fasism under a charismatic leader...such as the one just elected. The best thing for America and the "big three" is to tell congress "to hell with your bailout". It may be better if some of these companies fail than to have the alternative.

Tyler said...

You consider this economic crisis to be natural? And I believe President Elect Obama has said many times that everything will be ok. Sometimes things might have to get worse before they can get better...you oughta give the man a shot, he's not even in the oval office, yet the accusations of what you beleive is gonna happen are coming strong

Nikki said...

Tyler it isn't ME MYSELF AND I that considers this cycle to be natural I am only repeating economic news pages. I am not an economist. Read a few economic reports other than what is in the NYT and on TV...Obama needing a chance? That's laughable, the dude hasn't even done anything and his followers treat him like he has singlehandedly fixed America already. He needs no shot he needs a critical eye by more Americans. But thanks for stopping by! :)N

Tyler said...

Well maybe I shouldn't have said chance haha...and I agree there are plenty of blind followers, but just as many criticizers. Just saying, I think he's gonna do a great job.

Nikki said...

Tyler, I hope he does do a great job and I appreciate your comments on my blog very much...but I suspect he will get plenty of positive press unlike our previous President deserved or undeserved. Thanks for your honest comments! :)N