Comments on: As Auto Bailout Hopes Fade, So Do Stocks

Dow Plunges More Than 400 Points As Prospects Dim For Immediate Lifeline For Automakers

[txgrouch2007]

But seriously what do you think is the cause for the world''''s economic problems right now ?
Posted by Speakinup21 at 07:22 PM : Nov 20, 2008

1. GLOBALIZATION - A fun experiment, but it just didn''t work out as planned. OK, can we just stop now?

2. THE IDIOTS IN CONGRESS - Our Baby Boomer Congress has spent the past sixteen years taking a wrecking ball to the world economy. Is it any surprise that the world economy is now a wreck? Tell me, what have they EVER done that might have actually IMPROVED the economy in any genuine way?

Instead, they have played smoke and mirror games while systematically DISMANTLING anything that resembled a viable economic mechanism.

Really, what kind of question is that? We are only getting the results of sixteen years of intentional destruction, and you wonder what caused the destruction.

It''s like not seeing the forest for the trees...

[pcreversed]

If so - then it''''s clear that the price of US goods was too high due to the assinine need of US companies to make a quick profit to "justify" the $multi bn bonuses that the executives awarded themselves

It got to the point that other countries REFUSED to buy those goods (see the huge US trade deficit) or bought them but set max prices (see the EUs setting of max drugs prices). the result was that US companies tried to keep their profits constant (to justify those excessive bonuses) by raising prices in the US
Obviously there was a limit to how far they could go and how fast so they tried to lower costs by shifting jobs overseas

Combined with the incraesed prices, the lowering of incomes caused the eventual collapse of the house of cards that was laughably called the US economy


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Posted by cause_y at 07:34 PM : Nov 20, 2008
+ report abuse


Obviously, you have no clue how our economy works. The example you pointed out never existed and is not the problem at all. But then again, you are confused about just about everything and poorly educated too. Go suck a *** and shut up

[pcreversed]

cause_y - you have a serious hate thing going there.


Hey, I know you hate me, even though you don''''t know squat about me (and that''''s pretty close to being a bigotted idiot in my book), but I''''m going to give you some benefit of my 58 years.

It''''s ok to tell folks to go to hell, but if you expect their conversation to be meaningful to you (ie not just hate back) - they''''ve got to be looking forward to the trip. You want hate - we can provide it.


No better friends, no worse enemy.


Have a good evening - gotta head out to the hospital and see my wife.


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Posted by Speakinup21 at 07:31 PM : Nov 20, 2008


Just ingnore cause_y, he/she wants prop 8 to be over-turned. Enough said about that ****

[McHineguy]

That would reflect my point of view and beliefs as well machineguy.


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Posted by Speakinup21 at 07:25 PM : Nov 20, 2008

I think our whole country needs a little information about economics. We are in a deep hole and its goign to take us all working pretty smartly to dig out. Right now, we are still in the finger pointing stage. I hope that ends soon and our politicians begin to lead again.

I didnt vote for Obama but I do admire his ability to inspire people. He needs to work our a plan based on real economics and then "sell" it to the american people. But I am afraid he will fall into ideas like "New deal II" or "when you raise all boats the tide will rise". He does have real economists on his transition staff. I hope they work well for him. Meanwhile, I think Bush is FIGMO (F** I Got My Orders) and is only waiting out his term end.

We need help.

[txgrouch2007]

We no longer produce many goods and service is going to India. Its easy to say its one company or one political party but study a little economics 101 and then figure out why anyone would pay for what you do.
Posted by machineguy at 07:23 PM : Nov 20, 2008

Try this revolutionary idea: one man''s price is another man''s wages.

Paying low prices at Wal-mart means somebody''s wages are similarly low. And when you''re talking prices that low, the worker isn''t even in this country, which compounds the problem

You can either pay a higher price, or you can get the lower price but no income, so you can''t buy it at any price.

Higher prices means wages are higher. That includes YOU. That makes it EASIER for us to buy the bare minimum of essential imports (such as molybdenum, which simply doesn''t exist in usable quantities within our borders, so we have to import it).

If we didn''t import so much, we wouldn''t care if nobody buys our exports. We will always have something that isn''t available anywhere else, so our exports of those items will balance out the essential imports.

[pcreversed]

The US auto industry deserves nothing from the tax payers. If I wanted to support them in the making of substandard cars, I would have bought one of them. The fact that they are all trash is the main reason I did not buy one. I have rented several and have yet to find anything detroit is building to be inpressve. Over-priced gas guslers is not very impressive. And next year, China will be selling their cars here. You will be able to buy a Lexus quality luxury car for $10k-$15k and get good MPG. Throwing money into the sink-hole know as Detroit will just postpone the inevitable

[rudy6543]

But seriously what do you think is the cause for the world''''s economic problems right now ?


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Posted by Speakinup21 at 07:22 PM

It starts with too much dependence on the US dollar by other countries. Followed by the fact that our government thinks that deficit spending doesn''t hurt us in the long run. Coupled with the hands off approach by Bush when companies like Enron (and big oil execs) decided that they could gouge and extort consumers without regard to future consequences, and you get the perfect storm you now have.

Look, I said this was going to happen several years ago when I watched all of this unfolding. It was a matter of time. I''m surprised that it took as long as it did.

[McHineguy]

Personally I believe it''''s the US paharmaceutical companies keeping prices for medicines artificially high which cuased the massive increase in healthcare costs and as a result drove the US economy into recession

Helping them were the US oil companies lkeeping pump prices far higher than they should be given the wholesale oil prices

Bottom line, the cause of the US recession is the fault of US companies supported and encouraged by the Bush Admin


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Posted by cause_y at 07:14 PM : Nov 20, 2008

Well, your belief is wrong. Any economy is driven by its goods and services, not by its dollar (or ruble or whatever). We no longer produce many goods and service is going to India. Its easy to say its one company or one political party but study a little economics 101 and then figure out why anyone would pay for what you do.

[liesracomin]

Pretty much everyone with a brain - which obviously excludes you and your fellow americans cletus
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Posted by cause_y

LOL. Your Anti-American feelings are the greatest tribute you could pay us. Jealousy surely is the greatest compliment. Thanks

[heero78-2009]

Great. They''re gonna need another bailout soon.

[McHineguy]

Let me just jot that down for my next economics class: Note: deficit spending does not affect US currency.

I hope I get an A+!


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Posted by rudy6543 at 07:05 PM : Nov 20, 2008

Take this to your economics class

Deficit spending causes inflation and dimishes the value of your currency. Especially when purchasing goods from foreign manufacturers. The result is everyone has more dollars but goods and services cost more. The only way to offset this is to produce more goods and services or to raise taxes on EVERYONE.

Ask your teacher.

[rudy6543]

"Rudy does not understand responsibility - he has claimed that he is living the American Nightmare because he is African American. So Sad. - Posted by LIESRACOMIN




That true Rudy ?

Come on man. Let''''s get a real dialogue going here instead of the usual BS.


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Posted by Speakinup21 at 07:15 PM

LOL! I don''t ever remember claiming anyone of those things. You people are great!

[liesracomin]

Personally I believe ...
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Posted by cause_y

Who cares what you believe? Your goat is your girlfriend and that keeps you happy. No problem here if that pleases you.

[rudy6543]

Please continue your American Nightmare there Brother.


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Posted by LIESRACOMIN at 07:14 PM

No need to. You have Limbaugh and Hannity for that.

[rudy6543]

Posted by Speakinup21 at 07:13 PM

If you want to continue to ignore the reasons for the economic downfall, I will continue to point out the most obvious of your mistakes.

[liesracomin]

I didn''''t say a word about the military, you did. You told me I should join the military and become something in 20 years. You apparently don''''t think much of your military.
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Posted by rudy6543

How peety and downtrotten can you be - LOL. Please continue your American Nightmare there Brother.

[rudy6543]

You mean I have to join the military and become dirt poor in 20 years? Wow. Is that how you think of your military?
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Poste
d by rudy6543

NO - those were your words. Don''''t worry brother, we know you are too COWARD to sacrafice your time like that - keep hoping Obama will spread that wealth and take care of you. Good luck with that brother.


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Posted by LIESRACOMIN at 07:09 PM

I didn''t say a word about the military, you did. You told me I should join the military and become something in 20 years. You apparently don''t think much of your military.

[McHineguy]

Whining? I think we should all live under the tyranny of religion and dirt poor so that we are just grateful to have one faucet with running water. I think we all should live off of dirt poor wages just so you can think how bad those unions are.


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Posted by rudy6543 at 07:01 PM : Nov 20, 2008
Simple question.

"Would you pay someone the same pay you and your co-workers get for doing the same work you do?"

If they were building the computer you are using right now would you pay them 50 to 75 an hour to build it? How about those clothes you are wearing. Are they worth, say $150 for the shoes, $75 for the shirt?

Or is it just union guys who seserve big bucks?

[liesracomin]

Just because YOU didn''''t plan it right isn''''t MY problem.
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Posted by Speakinup21

Rudy does not understand responsibility - he has claimed that he is living the American Nightmare because he is African American. So Sad.

[jsd330]

I hope the automakers don''t get loans, and the market crashes. Then all of you who hate the auto industry and their workers will all be in the same boat. Pensions and 401k''s down the tubes. If you have a job work until you die. Thats what the government wants anyhow, so they don''t have to pay social security.

Just think GM, FORD, & Chrysler go out of business and the Imports can raise their prices, so their governments won''t have to subsidize them anymore.
If you wait another year or so you will probobly be able to buy a low quality Chinese car similar to a Yugo.With no competion that''s what you"ll get.