Are We Sick of Winning Yet? GM to slash 14,700 jobs in North America

Nov 2012
38,522
11,332
Lebanon, TN
I am merely saying that the governments actions kept two million people employed and at good jobs. Would those people have found work at other companies. Probably, eventually. But the fact is the economy was shedding jobs and at a furious rate. Unemployment was already 10% and climbing. Keeping those people employed was the smart move. In doing so the government has certainly been paid back several times over.
Bullshit. it kept people in PART TIME JOBS now Trumponomics is giving us a FULL TIME work force again.

Obama only created ~1.5 million full time jobs the rest were part time since trump has become POTUS we have added 6 million full time jobs.
The reason you have not seen as large of a change in the U3 unemployment but a massive change in the U6 is because those part time jobs of Obama's economy (the new normal?) is those part time jobs that Obama said would ALWAYS BE PART TIME were UPSIZED to full time.

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Jun 2018
2,768
716
South Dakota
I am merely saying that the governments actions kept two million people employed and at good jobs. Would those people have found work at other companies. Probably, eventually. But the fact is the economy was shedding jobs and at a furious rate. Unemployment was already 10% and climbing. Keeping those people employed was the smart move. In doing so the government has certainly been paid back several times over.
While the rest of us suffered by the devaluation of the dollar which took form as price increases that made it far tougher on those of us who are on fixed incomes and watching the value of 401k accounts evaporate. Yup we saved the country all right.
 
Jun 2013
5,430
1,693
Katmandu
So you would have given GM the money, and called it a bridge loan, and that would have been better how?
I would have been repaid and saved American tax payers $40 billion, GM would be a better company today, and GM stockholders wouldn't have gotten dicked for $30 billion.
 
Nov 2012
38,522
11,332
Lebanon, TN
I would have been repaid and saved American tax payers $40 billion, GM would be a better company today, and GM stockholders wouldn't have gotten dicked for $30 billion.
don't forget the pension recipients were also screwed with the bailout.

We gave them the bailout money to prevent bankruptsy, on June 1 2009 GM entered bankruptsy AFTER they receive bailout monies.
 
Jul 2014
12,417
7,473
massachusetts
I would have been repaid and saved American tax payers $40 billion, GM would be a better company today, and GM stockholders wouldn't have gotten dicked for $30 billion.
Or the company would have collapsed and the whole thing would have been a writeoff and GM cars would be made in China today.....
 
Mar 2013
8,323
8,980
Middle Tennessee
Bullshit. it kept people in PART TIME JOBS now Trumponomics is giving us a FULL TIME work force again.

Obama only created ~1.5 million full time jobs the rest were part time since trump has become POTUS we have added 6 million full time jobs.
The reason you have not seen as large of a change in the U3 unemployment but a massive change in the U6 is because those part time jobs of Obama's economy (the new normal?) is those part time jobs that Obama said would ALWAYS BE PART TIME were UPSIZED to full time.

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AAANNNNNDDDDDD he's back. As usual you have completely missed the point because you simply can't stand the fact the Obama directly SAVED TWO MILLION FULL TIME JOBS !!!! GM had well over 200,000 employees. That's direct employees. God knows how many contractors, they love their contractors for some reason. Ford had another 200,000 and make NO MISTAKE a bankrupt GM would have meant a bankrupt Ford. Add in Chrysler's people and we're already at more than half a million employees. GM alone has 6000 suppliers. Ford SHARES about 4000 of them plus another 2000 of their own. I don't know the numbers for Chrysler or how many they shared with the others. MOST would have been bankrupt with GM and Ford DID NOT HAVE THE CASH to wait while they retooled suppliers, much less the money to help finance new suppliers.They were literally hanging on by their finger nails. (of course no one wants to talk about the hundreds of millions of dollars in DoE "factory modernization" loans they had already received) No suppliers, NO CARS TO SELL. GM alone has more than 4000 dealerships. Ford has a similar number. Chrysler had less but still two thousand or more.

ALMOST ALL OF THESE PEOPLE, ABOUT TWO MILLION, WOULD HAVE BEEN UNEMPLOYED WITH IN A FEW WEEKS. As it was, most of them kept their full time jobs.
 
Dec 2016
3,825
1,976
Canada
~66% or 2/3 of the people in the US are INVESTED in the markets.. so the markets increases benefit 2 of every 3 American citizens. then you add the increase in asset growth, and dividend earnings on value of the individual shares.
Many times the market declines dividend are paid to the investor as well as the value of the assets of the company, (which is owned by the shareholder).
HOW MUCH STOCKS AND BONDS? Your factoids...which I'm not going to bother to verify, have nothing to do with my objection: WHO owns the greatest amounts of share value?
a.
The Richest 10% of Americans Now Own 84% of All Stocks
 
Dec 2016
3,825
1,976
Canada
Bullshit. it kept people in PART TIME JOBS now Trumponomics is giving us a FULL TIME work force again.

Obama only created ~1.5 million full time jobs the rest were part time since trump has become POTUS we have added 6 million full time jobs.
The reason you have not seen as large of a change in the U3 unemployment but a massive change in the U6 is because those part time jobs of Obama's economy (the new normal?) is those part time jobs that Obama said would ALWAYS BE PART TIME were UPSIZED to full time.
Agreed, and that's how Obama sunk Campaign Clinton when he started crowing about his great economic achievements...i.e.: "America's doing pretty great!" without checking any numbers to see how much those "great" economic numbers were filtering down through the middle and lower rungs of the economic ladder.

p.s. will you still be posting the DJI average next year, after the Fed can no longer keep inflating the markets with free money and the bubble finally bursts?
 
Likes: Sabcat

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