Quote:
Originally Posted by dbotsfordtat
Gm, Chrysler, Bank of America, Citgroup, ect... They are all insolvent, the real question is- What happens when the next one fails? GM is really just a small part of a much, much bigger problem and it goes way beyond UAW. All those on this thread that think letting GM go chapter 11 is inevitable and good are the same folks that thought letting Lehman Brothers go bankrupt was the right thing to do. They are the same folks that think we got to this point by having to many regulations on Wall Street, to many taxes on wealth, ect... Freemarket fundamentalist, they are to business what Christian Fundamentalist are to Christianity. We've had eight years plus of this crap and here we are, somebody is going to have to take it in the shorts for all the bullsh*t Wall Street has been peddling. Even if you were able to keep the whole house of cards standing after GM goes through chapter 11, and you gut the UAW, the credit markets are still frozen because of all the crap debt nobody wants to buy. All the bullsh*t CDO's (Collateralized debt obligations) and other fancy investment vehicles Wall Street came up with to defraud investors with Washington's openly bribed help, (both parties) I might add. Thats the Elephant standing in the middle of the room that nobody wants to acknowledge. IMO we are in a Depression now unless/until we/Washington finds a way to deal with all the bad debt. GM is a vicitm of this bad debt and we have to keep them on life support until we figure it out. Best I've ever heard it put was, " recession is when the guy down the street loses his job, a depression is when you lose yours." We'll see how many free market nut jobs think this is a good idea after a couple more million jobs disappear.
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dbotsfordtat - You give far too much credit to the government's ability to fix this mess and you slam the free market even though it is 100% responsible for the successes we have achieved as a nation. I challenge you or anyone on this forum to site a single government program or department except for the military that is run successfully. I also challenge you to show me 1 single example where government spending to the degree that is being proposed today has helped. I patiently await the opportunity to be educated.
Because I believe in the free market, I am a "nut job"? Are you a government employee? GM and other failing buinesses are victims of failed business policies and projections, in addition to the credit crisis. Just like any other failed business or household, they are guilty for not doing due diligence and having proper reserve funds in place.
Finally, you think this nation achieved its success by laid off employees flocking to the governmernt to provide them with a job? I think not. If you are ever unemployed, you may be very depending on one us free market nut jobs to provide you with employment, because government jobs are few and far between.
I would encourage you to tone down the rhetoric and name calling. We can all disagree, but we don't need to call each other names.
The bottom line is that us free-market nut consrevatives have history and proof on our side. All the proponents of large government spending and pseudo socialist/private companies are seeking a pie-in-the-sky, utopia that never works, and if they would simply read their history, they would realize it.