1 Fuck Detroit.

2 Fuck this... I'm voting present.

3 The companies need to go Chapter 11 so a bankruptcy judge can relieve them of their post-retirement benefits problem. Although I agree with Lindgren, there is actually no way for the unions to give back enough since about two-thirds of the loss on every vehicle is related to legacy (i.e. retiree and long-tail medical) costs. There is simply no way to make the beast work without cleansing the balance sheet. Adding debt that they don't have to repay will only prolong the agony. We know how this all ends...

4 where's the bailout for guys with shaved heads?

5 The Dems just picked the right man to push them out of business, Waxman is a disaster for Detroit.  They would have been better off with a Republican house.

The Dems have really f'cked over Michigan; but it will stay Blue.

6 Blue states deserve their legacy ... hello Senator Franken you dumbass minnesotans

7

All of this reminds me of an interchange I had with a liberal troll over at TH a few months ago. He was trying to refute the statement that I had made about the U.S. already being a socialist country and steadily advancing toward communism.

 

His argument against that was that the government did not own HIS business and tell him how to run it. I started rattling off different OSHA regs and various other things he had to comply with that applied to ANY business and then hit him up side the head with a lot of the specific stuff that other businesses have to put up with.

 

The upshot of it was that there isn’t a damn business left in the country that can operate they would like (legally) without government interference. Now that they are bankrupting the businesses they have to bail them out. In the case of the banks, the government has become part owner. In the end that is likely to happen here as well.

 

Now they will have met the final barrier to being a full communist government, the government will own the means of production, financing, and control every aspect of the people’s lives.

8 The companies need to go Chapter 11 so a bankruptcy judge can relieve them of their post-retirement benefits problem.

Or the Dems could explain the facts of economic life to the union bosses.

Hey, what's everyone laughing at?

9 Off topic somewhat but the Dow is now down 338 points so I just want to say "I was wrong" yesterday thinking that we'd get a rally today. We're obviously testing a new floor. Tomorrow though, I'm betting it rallys big time. Ten minutes left to go.

10 Hey Union Bosses - go fuck yourselves.

Yeah, come and get me.  Oh, I have skeletons in the closet, too.  Let me just make that easier on all of us.  If you need phone numbers and institution names just let me know, cocksuckers.

11

Sassy-hasn't the obamessiah been a great rallying point fot the market? I guess if you are a trader and love to short - you are doing well.

12

Off topic somewhat but the Dow is now down 338 points 480 points. FTFY

13 maybe sassypants, but please note, the 30 year treasury bond has its lowest yield in history today. I think a lot of boomers are done with equities for good because retirement is here or coming soon and Obama wants to double capital gains tax.

14 yeah, I don't short, Wolverine. This sucks so badly. I would say that if this keeps up, I'll need to check myself into Silver Hill, the mental hospital not too far from me. The only problem is, I'll have no money to pay for my stay.

15 Posted by: PR at November 20, 2008 03:57 PM (k7SeR)

Of course.  It's the perfect storm to nationalizing EVERYTHING.  They've worked hard to get to this point, knowing full well what their policies would do.

16 I am with you sassy ... been a rough time for longs. Think obama will have a bailout for us?

17 Why, oh, why didn't I buy SKF a couple of months ago I'd've easily doubled my money.

Too late now though.





Where my time machine the Messiah promised?

18 Right next to the unicorn.

19 Slightly OT, but:
Just got an email over my work system (I work at a public university).  It was advocating that our problems right now are "revenue problems" and that we should solve "revenue problems" with a "revenue solution".  Guess what that is.  Oh yeah, it's a tax increase.  But don't fear, a tax increase just on the rich bastards.  Oh and the greedy corporations.  Because the state NEEDS the money.  Oh the irony of it all - a public employee using a public computer in a public building to send an email over a public network suggesting that we should have higher taxes because the state doesn't have enough money.

Barf.

20

Cavuto: "Stocks dive as auto bailout is put on hold".

Please tell me how that kind of conclusion can be reached? Isn't it more likely that stocks are tanking with the notion that there are just enough idiots up on The Hill that the bailout will go through?

21 chemjeff that's funny

22 they just don't get if you tax all the people with money, pretty soon there will be no students, cuz mommy and daddy can't afford to send them 

23 Can anyone give me an example of where the government actually 'fixed' something.

24 there will no producers left and all the lazy bums will have themselves to blame

25 Well, Wolverine, if I do get so mentally unstable from this fiasco, maybe with the help of obummer's national healthcare proposal, I won't have to pay for my stay at the looney bin. Gotta always find the silver lining, am I right?

26 It seems that Generous Motors has just opened a $300 million dollar plant in St. Petersburg, Russia. I guess the question is... if they have $300,000,000 to open new plants in foreign countries, why can't they function in the U.S.?

27

as of 4pm Dow down almost 450 and as I watch the news with the headline "Dow dives on Auto bailout put on hold". As if the Dow is only diving due to them not getting their money. What a crock aned we all know it. They are trying to drum up public support for this dog any way they can....see? If you let us give the auto industry a bailout, the market won't plummet like it did today! )wink, wink)

 

12 business days since the election and the dow has been negative 10 of those 12 days. twice they have implied the Dow dive was due to the failed auto bailout and once due to Paulson changing hte script. That leaves 7 days the Dow has dived with no excuse to blame it on and yet they'd have us think that TODAYS plummet is due to Congress not doing anything for the automaker.

 

28 Dow Nov. 4th = 9625
Dow Nov. 20 = 7553
-21.5%

US: "Look ma, no hands! Weeeee!"
Market: <facepalm>

29 sassypants 25 - if you get to the bin before I do, would you save me a chair? I have a feeling 6500 isn't so far away at this rate...

30

The bailout will also reduce U.S. employment by encouraging a protectionist response from other countries.

Matt Slaughter at WSJ:

Will a U.S.-government bailout go ignored by policy makers abroad?

No. A bailout will likely entrench and expand protectionist practices across the globe, and thus erode the foreign sales and competitiveness of U.S. multinationals. And that would reduce these companies’ U.S. employment, R&D and related activities. That would be bad for America.

31 Oh, Wolverine, it is tragic.  You get these hard-core committed leftist professors advocating for every liberal idea that you can think of.  And #1 on the list is invariably that taxes are too low.  "We should be more like Europe", they say, where tax rates are high but citizens are happy!  (Or so they claim.)  And of course they all fight for "social justice" (e.g., regulating business so that they follow government social policy), "comprehensive land use planning" (e.g., telling farmers they can't build on their lands), etc., etc.  And then when university administrators come to them and say "bad news, enrollment is down this year" and they blame it on the "high cost of tuition", they will immediately and instinctively blame it on conservative ideas - not by name, but by philosophy.  So they will say "enrollment is down because we don't have enough federal student aid, because taxes are too low" or "enrollment is down because we live in a conservative culture that doesn't value education" or "enrollment is down because greedy corporations don't pay for tuition reimbursement anymore".  NOT ONCE will they even stop to contemplate that if parents and students had more money in their pockets to begin with, they'd more readily be able to afford college tuition even if it should go up a little.  NOT ONCE.

32 right-o sassy!

33 well said chemjeff

34 The bailout will also reduce U.S. employment by encouraging a protectionist response from other countries.

Trade protectionism - check.
Raising taxes - check.
Bank failures - check.

Where's PARep to tell us not to shit our pants?

35 have to admit though looking forward to coal industry in PA going in the tank just so I can laugh at those morons

36 #11 "traders who love to short" -- Hmmm, which one of Obama's friends would that be?

37

What I'd like to know is "expectations of Obama administation is really High". Really? Who actually, besides the fawning media, thinks Carl Marx v.2 and what he will do has high expectations? I expect he is going to fuck this country up even more, very fast and it seems the Dow agrees. It would seem Wall Street is immune to swallowing the load of crap wshington and the MSM are  shoveling. The don't believe in unicorns.

The bias and fawning is so over the top, even people that voted for him (not the cult followers) are getting mortified by this crap and aren't fooled. They can't even defend such ridiculousness to the non supporters. Funny how no one knows why the Dow is diving no matter what they do but they know enough that it tanked today because of the auto bailout failure? Bullshit and they know it.

38

have to admit though looking forward to coal industry in PA going in the tank just so I can laugh at those morons

Yup.

39 Can you fit a set of ghetto spinners on a Prius?

40

Can't wait for the first episode of Pimp My Hooverville!

 

Can I be the first to dub refrigerator boxes Obamansions?

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