Woohoo! We get to give GM another $45B!

[bakemeacookie]

imagine this in 1940:

"Federal government offers $45B stimulus to horse and buggy manufacturers. 50,000 jobs in the horse & buggy industries were saved! Unions happy."

c

 

[PICK3]

imagine this in 1940:

"Federal government offers $45B stimulus to horse and buggy manufacturers. 50,000 jobs in the horse & buggy industries were saved! Unions happy."

c

imagine this in 2010:

my cawk is 10.5 inches long

wait ... bad example

 

[fortunatesun]

What Obama is doing to the poor is the ultimate form of taxation: Inflation. He's cultivating the seeds to ultimately undermine our dollar.

I think this argument would hold weight if we lived in a capitalist economy. Money has been shunted to so many sectors here and abroad through so many legal and extra legal means that I don't believe you can apply traditional economic modeling.

It seems better to prop up areas of duress and give ourselves some breathing room while we work out of the hole we've dug for ourselves. We're not in any imminent danger but sooner or later the piper will be paid.

I understand the point you're making about bankruptcy, 75th. An idea can only be as good as the people who administer it. Now that they've taken our money, it seems justifiable to find out what happened to it.

Sounds like what the 'real world' needs is some EF style moderating to sort out the unruly and improve our gene pool.

 

[75th]

It seems better to prop up areas of duress and give ourselves some breathing room while we work out of the hole we've dug for ourselves. We're not in any imminent danger but sooner or later the piper will be paid.

That may be true. I personally am of the mindset that the continuous propping up only leads to worse crises down the road. IMO 2007-2009 was a direct result of our propping up of the economy in 2001 and after the LTCM blowup in the late 1990s.

When you think about it, the government lowering interest rates and spending trillions on construction jobs is only creating another bubble. What happens to the tens of thousands of construction workers 5 years from now when the jobs finish and the stimulus money is spent?

Japan tried the EXACT same strategy after their financial collapse and look where it got them.

 

[binö]

 

[mrplunkey]

Perhaps we could send GM some all-natural pot-powered 400% efficient turbines instead of our $45B.