Auto Bailouts - We lost money

Who is this lawmaker bailing out and why aren't you and JD bitching about it?


The Abrams tanks - and most other equipment used by the military - are built within the U.S. Stopping production means losing jobs in home congressional districts.
“My job is to represent the 4th Congressional District,” said Republican Rep. Jim Jordan, whose Ohio district includes the territory where the tanks are constructed.
Originally Posted by WTF

Only a dumbfuck like WTF would conflate a bailout with a DOD procurement contract. A bailout is when the govt steps in and lends you money that you can't borrow elsewhere because you're a bad risk. A defense contract is when the govt places an order and you have to deliver the goods (in this case, Abrams tanks) to be paid. Do you call it a "bailout" each time the govt buys anything, WTForeverstupid?

Fuck just think of what we would have lost without gm 100s of millions in jobs and taxes

Once Obama gets the economy going again, and inflation perhaps starts to get too high, we will contract the money supply. Your knowledge of economics is unimaginative. Originally Posted by Bert Jones

So is yours, BJ. What definition of "money supply" are you following? Currency in circulation? The so-called "monetary base"? "High-powered" money? Excess bank reserves? M1? M2? M3? I'm confused by so many different definitions. I need a REAL IMAGINATIVE ECONOMIST like you to guide me.

Btw, when will Obama "get the economy going again"? It's been 5 years, hasn't it? Will you do us all a favor and let us know when it finally happens?

So is yours, BJ. What definition of "money supply" are you following? Currency in circulation? The so-called "monetary base"? "High-powered" money? Excess bank reserves? M1? M2? M3? I'm confused by so many different definitions. I need a REAL IMAGINATIVE ECONOMIST like you to guide me.

Btw, when will Obama "get the economy going again"? It's been 5 years, hasn't it? Will you do us all a favor and let us know when it finally happens? Originally Posted by lustylad

You will know it when unemployment gets down below 6% and Democrats win the House.

Obama didn't bail out gm, he bailed out the uaw. Originally Posted by nevergaveitathought

Yea, I like this comment...

@August. The answer is obvious. The money is now residing at the DNC ready to be given to Democrats during the next cycle. The "bailout" wasn't so much about trying to save the production of autos in the US, as it was saving the UAW! Originally Posted by IIFFOFRDB

Bingo! Thank you for speaking the truth. The rest of you guys are missing this point. The GM bailout epitomizes the corrupt Obama philosophy of "you never want a serious crisis to go to waste".

http://www.youtube.com/watch?v=1yeA_kHHLow

In this case, what you "could not do before" (to quote Rahm Emanuel) is shovel tens of billions of taxpayer dollars to the UAW. Yet under the cloak of bankruptcy law, it became possible. Obama used the auto crisis to reward his crony union supporters with public funds that could then be recycled and returned as future DNC campaign contributions. The GM bailout is the poster child example of absolute corruption in US politics.

Here is how one Law Professor summarized it soon after GM went public again nearly two years ago:

"If the government treated the UAW in the manner required by bankruptcy law, it could have given the stock and promissory notes to the Treasury instead of to the UAW... Instead, President Obama gave over $26 billion to the UAW—more money than the U.S spent on foreign aid last year and 50% more than NASA's budget. None of that money kept factories running. Instead it sustained the above-average compensation of members of an influential union, sparing them from most of the sacrifices typically made in bankruptcy. Such spending does not serve the common good. President Obama did not bail out the auto industry. He bailed out the United Auto Workers."

So the only reason taxpayers wound up losing even a dime on the GM bailout (let alone $10 billion) is because Obama bent the rules to redirect the bankruptcy spoils away from taxpayers and into the greedy hands of his UAW cronies. Future generations will look back on this episode as a case study in CORRUPTION, CORRUPTION, CORRUPTION.

Only a dumbfuck like WTF would conflate a bailout with a DOD procurement contract. A bailout is when the govt steps in and lends you money that you can't borrow elsewhere because you're a bad risk. A defense contract is when the govt places an order and you have to deliver the goods (in this case, Abrams tanks) to be paid. Do you call it a "bailout" each time the govt buys anything, WTForeverstupid? Originally Posted by lustylad

Pentagon keeps telling them they have more than enough tanks, but they tell the pentagon to fuck off we need the jobs.

Here is how one Law Professor summarized it soon after GM went public again nearly two years ago:

"If the government treated the UAW in the manner required by bankruptcy law, it could have given the stock and promissory notes to the Treasury instead of to the UAW... Instead,*President Obama gave over $26 billion to the UAW—more money than the U.S spent on foreign aid last year and 50% more than NASA's budget. None of that money kept factories running. Instead it sustained the above-average compensation of members of an influential union, sparing them from most of the sacrifices typically made in bankruptcy. Such spending does not serve the common good. President Obama did not bail out the auto industry. He bailed out the United Auto Workers."
Originally Posted by lustylad

I'd rather US workers get the money rather than corrupt foreign governments or that waste of money called NASA.

Oh wait, I'm not done yet, there's more to the story:

As part of the GM bankruptcy, Obama also gave $1 bn. in TARP bailout money to UAW retirees who worked for Delphi (an auto parts supplier) even though there was no legal obligation to do so. Meanwhile, he screwed the non-UAW retirees at Delphi. Most of them lost their entire pensions!

Anyone who takes the time to wade into the details of the GM bailout needs to wear a mask to ward off the overwhelming stench of Obama corruption.

Only a dumbfuck like WTF would conflate a bailout with a DOD procurement contract. ? Originally Posted by lustylad

Pentagon keeps telling them they have more than enough tanks, but they tell the pentagon to fuck off we need the jobs. Originally Posted by i'va biggen

Bingo...dumbass lustylad thinks there is a difference between buying tanks we do not need and the government bailing out the auto's.

Bingo...dumbass lustylad thinks there is a difference between buying tanks we do not need and the government bailing out the auto's. Originally Posted by WTF

Hey WTFaggotbreath - Remember the $15k deposit you put down for delivery of a brand new 2014 Camaro? The dealer is tight on funds right now so he converted it into a bailout loan. No difference, huh? Sorry about the car.

I'd rather US workers get the money rather than corrupt foreign governments or that waste of money called NASA. Originally Posted by Bert Jones

NASA's Muslim Outreach
By Mona Charen - July 7, 2010


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It's not really surprising that President Obama told NASA administrator Charles Bolden that his highest priority should be "to find a way to reach out to the Muslim world and engage much more with dominantly Muslim nations to help them feel good about their historic contribution to science ... and math and engineering." It fits with so much that we already knew about the president.

It is consistent with his wildly exaggerated concept of governmental and presidential power and competence. Samuel Johnson wrote: "How small, of all that human hearts endure, that part which laws or kings can cause or cure." Obama believes the opposite -- that his presidency can be a transformative moment not just for the nation, but for the world. He will halt global warming and stop the rise of the oceans, transition America to a green energy future, prevent the "cycle of boom and bust" in the economy, provide universal health care while spending less than before, cushion "underwater" mortgage holders without rewarding profligate borrowers, increase taxes on the "rich" without harming the middle class, solve the problem of excessive public debt by amassing more public debt and so on.



How in the world would NASA help Muslim nations to "feel good" about themselves? Would NASA hold science fairs in Tripoli or Tehran? Produce and circulate propaganda films about Great Muslim Men (careful, never women) of Science? Stress our global debt to Muhammad ibn Musa al-Khwarizmi, the father of algebra? (That's risky, since al-Khwarizmi reportedly learned his math from the Indians.) How would Obama's NASA chief undertake to alter the civilizational self-esteem of a billion people?

Of course, it's entirely possible (pace Bernard Lewis) that the Muslim world does not lack for self-esteem on the matter of science or anything else. Certainly, scientific know-how has not been lacking in nuclear-armed Pakistan or (would be) nuclear Iran. Besides, hasn't Obama heard? The whole self-esteem myth has been exploded. Though millions of tax dollars and God only knows how many wasted instructional hours have gone toward making American kids think they are really, really special, it turns out that there is zero correlation between such drilled self-esteem and academic performance. (See Scientific American, January 2005)

The Obama directive to NASA also revealed a mental tic common to liberals -- the tendency to universalize the African-American experience. Just as African-Americans were denied their rights and dignity, goes this reasoning, so today fill-in-the-blank are being persecuted or demeaned -- women, gays, Muslims, the handicapped, illegal immigrants, Palestinians, "people of color."

But this line of reasoning impedes rather than advances understanding. The African-American experience in America was actually very different from that of women, gays, the handicapped, illegal immigrants, or others here, to say nothing of the experience of Palestinians or "people of color" worldwide. Invoking the emotionally charged civil rights paradigm closes the door on nuance and context and encourages dogmatism.

To treat the Muslim world as a vast ocean of African-Americans in need of respect and encouragement from us is both arrogant and incredibly solipsistic. In fact, large swaths of the Muslim world feel inexpressibly superior to us -- particularly morally and spiritually. Until cold terror forced them to accept American servicemen on their soil, the Saudis kept "infidel" pollution to the barest minimum in the home of the prophet. That wasn't an expression of inferiority. Osama bin Laden boasted in 2000 that he had defeated the Soviet Empire and that it would be a small matter to defeat the American one. Again, he may have been deluded, but he was not a candidate for assertiveness training. Nearly every Muslim child is instructed that his is the true faith, superior in every way to the errors that came before: Judaism and Christianity, and infinitely above paganism or atheism. Jihadis are taught that their shining pure religion requires no less than the mass murder of infidels and unbelievers.

It might just be that Muslim self-confidence is more dangerous to us than imagined Muslim feelings of inadequacy. But in any case, solicitude about the feelings of individuals cannot comprise a foreign policy. Muslim nations, like other nations, are motivated by advantage and influenced by perceptions of strength and weakness. The president has absolutely no control over the way Muslims feel about themselves -- but he has every power over the way they perceive us.





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I'd rather the DNC and all of its corrupt campaign conduits get the money rather than corrupt foreign governments or that waste of money called NASA. Originally Posted by Bert Jones

ftfy.

You will know it when unemployment gets down below 6% and Democrats win the House. Originally Posted by Bert Jones

I was wrong. He CAN be that stupid.

Naw he is just optimistic.

opps