• Welcome to the new NAXJA Forum! If your password does not work, please use "Forgot your password?" link on the log-in page. Please feel free to reach out to [email protected] if we can provide any assistance.

Hold on to your britches!

Ecomike

Ecomike

NAXJA# 2091
NAXJA Member
Location
MilkyWay Galaxy
The House just passed a bill to loan Detroit's Big 3 a bridge loan, with President Bush pushing both houses to pass it today, but the Senate may kill it with a filibuster, if that happens the stock market will take one big huge dump and send us into a depression.

The loan is only about 14 billion, equal to the cost of the Iraq war for about 6 weeks IIRC. Not a lot to help save 3-5 million jobs, not to mention the 300 billion those job looses would cost Washington in lost tax revenues and unemployment costs.

The strange part is the Republican party use to be the party of big business, dolling out all sorts of money to big business.
The article also mentions the Big 3 failure would send another huge wave of auto industry bad debt through the financial system when it is barely starting to work again. Kinda like putting the nails in the coffin. If the republicans do filibuster and kill this bill, and Detroit goes down worm hole, and takes 1 in 10 US jobs with it, I doubt a single Republican will get elected in 2 years.

http://www.reuters.com/article/mark...081211?pageNumber=2&virtualBrandChannel=10276
 
Last edited:
Oh, by the way, the recession has hit Houston. The Chemical companies are shutting down expansions, laying off 10s of thousands of contract workers, dealerships have closed .......etc.
 
scottmcneal said:
Did ford take any money? Didn't they say no thanks
Click to expand...

There is no money for Ford in this bridge loan, but they lobbied for GM & Chrysler as they say if any one goes down it will take the parts suppliers too, which would cripple Ford. Ford has asked for a tentative loan guarantee next year in the second stage (if there is one) in case the economy gets a lot worse before it starts to recover.
 
Thank you mike, havent been watching the news...To much doom and gloom... I have slowed down a little at work too.. We are doing 5 to 7 installs a week now...Not making any money this way...But it is going to get much better i think, after the new year
 
IntrepidXJ said:
don't you have anything better to do? get out there and enjoy your life a little bit :)
Click to expand...

Where do think I have been lately?:rof:

Got to watch my daughter (Varsity HS womens basketball) kick ass the other day. They were down by 1 point, only seconds left, and she got an impossible pass off to her team mate while being pressed right under the basket for an easy 2 points as the buzzer went off. It was especially cool for me as I had had a chat with her coach about my daughter spending the entire game on the bench. anyway, The star player missed a 3 point shot that would have tied the game, but got fouled, then missed the 3 free throws. My daughter grabbed the rebound, passed it out to a team mate, "2" points, and we got with in 1 point with about 7 seconds on the clock.

Real barn burner, lost my voice that night. Needless to say, some parents live for moments like that!:sunshine:

Not bad for bench warmer. She was a starter and co-captain last year (different coach, different players). I suspect she won't be on the bench as much at this weekends games after saving the last game.
 
If you can't take the heat than get out of the kitchen. Let them burn. Bad business is bad management. Mitroffs crisis management comes to mind....

Lets introduce a new hummer that gets 8mpg during a recession lol

Nobody should get a hand out this far in. They've had enough time to see it comming and did nothing to correct their bs. I am well aware of what this might mean, I have guns i'll be fine.

It's one thing to regulate our credit system but to get involved in everyday business is taking it too far IMO.
 
Let them burn.

The only way to have a healthy economy is to have profitable companies contributing to that economy not companies that burden the hard working tax payers to support their wanton waste of funds by producing goods that no one will buy.
I hope evolution will come into play here. Survival of the fittest. I am sorry, I need to keep more of my hard earned wages.
In the 1980's, I had a boss from corporate America;... former president of a couple of large companies in the US. He said "US companies have a useful 15 to 20 year life span. After that they become top heavy, useless and un-profitable"

Er......too many Chiefs;..No Indians (We need Indians to go out to hunt buffalos and bring them home for food)
 
Last edited:
techno1154 said:
Let them burn.

The only way to have a healthy economy is to have profitable companies contributing to that economy not companies that burden the hard working tax payers to support their wanton waste of funds by producing goods that no one will buy.
I hope evolution will come into play here. Survival of the fittest. I am sorry, I need to keep more of my hard earned wages.
In the 1980's, I had a boss from corporate America;... former president of a couple of large companies in the US. He said "US companies have a useful 15 to 20 year life span. After that they become top heavy, useless and un-profitable"

Er......too many Chiefs;..No Indians (We need Indians to go out to hunt buffalos and bring them home for food)
Click to expand...

On that basis Dow Chemical should have become top heavy, unprofitable and died 80 years ago. I am sure I could find many more good examples.

Profitable companies need customers spending money. No customers, no sales, no profits. Customers (individuals) need jobs and income to be able to become customers. They can not spend a jobless zero income.

Sounds like you still have a job. I doubt you would be worried about your tax rate or the bridge loan, if you were jobless right now.

Latest estimates are that US unemployment will reach 8.7% next year. That is nearly 1 in 10 Americans jobless.
 
I'd rather Bush pass it than Obama. Obama would have given them alot more.
 
Why is it such an issue to loan money to American Industry,but it wasn't no big deal to some(not here per se) to dole out billions to central banks that wish to destroy America and put them into 3rd world status? I was against the banking bait and switch, but this one...I hope they can come through.
 
IndyXJ said:
Why is it such an issue to loan money to American Industry,but it wasn't no big deal to some(not here per se) to dole out billions to central banks that wish to destroy America and put them into 3rd world status? I was against the banking bait and switch, but this one...I hope they can come through.
Click to expand...
I dont think we should give nothin to nobody.
 
You must log in or register to reply here.

Similar threads

lobsterdmb
Colo. panel votes to have 'discussion' on takeover of federal property
Replies
0
Views
135
lobsterdmb
lobsterdmb
lobsterdmb
Will budget blueprints seek to dispose of federal estate?
Replies
0
Views
234
lobsterdmb
lobsterdmb
WTF_LOL
Magpul's Recent Statement on Facebook
2 3 4
Replies
72
Views
3K
bd18packer
B
Dan Fredrickson
3rd Annual, Time to Beat your Wife...
Replies
10
Views
893
Dan Fredrickson
Dan Fredrickson
C
The Execution of SEAL Team Six
Replies
7
Views
664
Darky
Darky
Back
Top