Comments on: Bailoutarama – First the banks, now the cars, who's next? https://wthrockmorton.com/2008/11/12/bailoutarama-first-the-banks-now-the-cars-whos-next/ A [retired] college psychology professor's observations about public policy, mental health, sexual identity, and religious issues Thu, 13 Nov 2008 22:52:09 +0000 hourly 1 https://wordpress.org/?v=6.8.3 By: Drowssap https://wthrockmorton.com/2008/11/12/bailoutarama-first-the-banks-now-the-cars-whos-next/#comment-23461 Thu, 13 Nov 2008 22:52:09 +0000 https://www.wthrockmorton.com/?p=2322#comment-23461 Minty

I wonder if someday, this will be considered one of the turning points in world history.

Not someday… TOday.
This marks the end of the era of debt fueled living. We were living off Asian savings and now that’s gone. Minus a few blips credit is going to be tight for decades. America as we knew it is gone forever.

]]> By: minty https://wthrockmorton.com/2008/11/12/bailoutarama-first-the-banks-now-the-cars-whos-next/#comment-23460 Thu, 13 Nov 2008 22:38:48 +0000 https://www.wthrockmorton.com/?p=2322#comment-23460

Total compensation per hour for the big-three carmakers is $73.20. That’s a 52 percent differential from Toyota’s (Detroit South) $48 compensation (wages + health and retirement benefits).

Unions have failed. The public school system and slow death of the American auto industry over the past thirty years prove this.

]]> By: minty https://wthrockmorton.com/2008/11/12/bailoutarama-first-the-banks-now-the-cars-whos-next/#comment-23459 Thu, 13 Nov 2008 22:29:33 +0000 https://www.wthrockmorton.com/?p=2322#comment-23459 Meanwhile, China is proposing a $586 billion bailout of their much smaller economy. All that national saving will finally pay off for them. I wonder if someday, this will be considered one of the turning points in world history.
I’m actually looking forward to the day when China takes its rightful place as a global superpower, to help stabilize the world Finally all those yapping thugs with great power pretensions in the Middle East and Russia will have to focus their attention on a country other than the U.S. – a country over which they have zero leverage.

]]> By: Drowssap https://wthrockmorton.com/2008/11/12/bailoutarama-first-the-banks-now-the-cars-whos-next/#comment-23458 Thu, 13 Nov 2008 19:35:08 +0000 https://www.wthrockmorton.com/?p=2322#comment-23458 At the end of WW2 Hitler sat in his bunker ordering armies that no longer existed to save his crumbling Reich.
It’s the same thing now.
Paulson is moving chairs around on the deck of a sinking ship. We are flat broke folks. FLAT FREAKIN’ BROKE! We can print all of the pesos we want but it won’t make us any richer. Even if they bail out all of the banks and car companies will it change anything? How many people are shopping for cars right now? Massive layoffs are plant closures are coming.
Chairman of Goldman Sachs expects that economy will get worse than great depression.

“I think it would be worse than the depression,” Whitehead said. “We’re talking about reducing the credit of the United States of America, which is the backbone of the economic system.”
“I see nothing but large increases in the deficit, all of which are serving to decrease the credit standing of America,”

]]> By: Clay Garland https://wthrockmorton.com/2008/11/12/bailoutarama-first-the-banks-now-the-cars-whos-next/#comment-23457 Thu, 13 Nov 2008 16:39:29 +0000 https://www.wthrockmorton.com/?p=2322#comment-23457 I always said, if the big three want a bailout, they should be required to terminate all union contracts.

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