Lords of Death Forums Lords of Death Forums LoD General Discussion This one's for you Stretch....

You love to make up shit. Is that why your so strongly opposed to gay marriage and picketed the Mayor's office in San Francisco? Is this the same reason you support the bailout of the big three auto giants and the reason you were pushing TARP so prominently without out the needed congressional transparency?

How's that feel?

LOL. Your fucking dumb.

.....but a better analogy is:

10 guys go for beers every day, the bill comes to $100 each day.

The poor guys say they are too poor to pay their share.
The rich guys say that if they pay less then their share, they'll boost the economy.

Everyone agrees that they should not pay their share, so they borrow 30 bucks every day from a chinese guy. For every 30 bucks they borrow, they have to pay $1 interest. This is a great deal, they only have to pay 10 cents each for every 30 bucks borrowed from the chinese guy (he's also the bar tender and owns the bar). They pay $7.10 each the next day.

After 10 days, they are still only paying $1 each above their total 70 bucks and getting 100 bucks worth of beer, hell of a deal. Life couldn't be better. One guy says, this can't go on forever. The poors guys say "we can't afford to pay the full bill", the rich say "unless I get this discount nobody will have beer". They pay $8 each for $10 worth of drinks.

After 40 days, they now have to pay $11 for $10 worth , they want to go back to paying $70 for $100. So they now borrow $70 per day and pay $70 and get $100 bucks worth of beer.

40 more days pass, they are now struggling to cover beers, so the chinese guy says "I'll give you a title loan on your cars" and that can be used to square up your tab, you see you now owe me $2800 bucks (we'll call that a national debt as an analogy). So they do it. But they simply won't pay the full bill.

Eventually the chinese guy takes their cars, house everything. They all now work for him for peanuts, basically debt slavery.

All because they didn't balance their budget and ran up a large debt by using deficit financing for their beer. If they didn't sit around justifying why they should pay as little as possible, but focussed on balancing their budget and be willing to make sacrafices then they wouldn't be fucked. But they were all greedy little fuckers who justified their own selfish desire to pay as little as possible and thought the chinese guy would simply foot the bill forever.

Then their livers exploded.

*NT*

The TARP plan morphed into an absolutely laughable plan. What was intended to be a liquidity provider to organizations that held the most illiquid bonds/investments turned into this massive convoluted bailout package with a billion earmarks...its just crazy.

I do agree that the autos need to be bailed out / rescued but to do it without forcing them into bankruptcy first to break some contracts and agreements is crazy. Their daily burn rate on cash is EXTREMELY negative. To continue as is will just burn through the cash and 12 months from now they will just be asking for more cash. We could also sit here and debate if there is enough room/money for all three....the way i look at it, 2 out of the 3 survive.

To not provide some assistance to the auto industry is crazy. The latest economic/analyst report i read on the situation estimated a 50% unemployment rate for Detroit and NW Ohio if nothing is done OR if the Chyrsler/GM deal goes through...if you run an unemployment rate that high, you will effectively turn Detroit into a ghost town (more than it already is if you have been there recently).

They are going to congress for a bailout because they congress keeps messing with them. Your over regulation caused this one.

"A postal reform law passed by Congress two years ago accelerated the Postal Service?s financial woes by requiring it to fully fund its retiree health care accounts within 10 years. That means the Postal Service owes $7.7 billion this fiscal year toward its health benefits." Link

His $1 example was just that...an example. UAW workers are paid in excess of their value. That is not debatable in my opinion. I'm not talking about hourly wages but the total package from 100% funded healthcare even after retirement ( fucking stupid ) to 401k matches in excess of normal business practice, pensions etc. They even get paid days off to have company picnics or conduct charity work outside the companies involvement.

UAW bullshit and strikes have cost these companies billions. It is far from the only bad part..READ THAT AGAIN STRETCH. But I bet its over 50% of the problems.