Comments on: Sometimes bankruptcy is good for the country… http://iamerica.backyardpolitics.org/blog/2008/11/11/sometimes-bankruptcy-is-good-for-the-country/ for freedom Fri, 21 May 2010 00:50:51 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: florida public adjuster http://iamerica.backyardpolitics.org/blog/2008/11/11/sometimes-bankruptcy-is-good-for-the-country/comment-page-1/#comment-176 florida public adjuster Tue, 23 Feb 2010 22:52:10 +0000 http://www.backyardpolitics.org/blog/?p=27#comment-176 This type of wealth disparity in this country is ridiculous and a hazard to a functioning democracy and free market. The $20.3 billion paid out as bonuses on Wall Street could support over a quarter-million good-paying middle class jobs. I truly believe the best way to prevent socialist tendencies in government is to prevent the accumulation of extreme wealth amongst the elite. Supply-side economics doesn't need to rely on the top-income earners to invest if there is a healthy middle class. It seemed that America functioned just fine (likely better) when the income disparity was much lower. This type of wealth disparity in this country is ridiculous and a hazard to a functioning democracy and free market. The $20.3 billion paid out as bonuses on Wall Street could support over a quarter-million good-paying middle class jobs. I truly believe the best way to prevent socialist tendencies in government is to prevent the accumulation of extreme wealth amongst the elite. Supply-side economics doesn’t need to rely on the top-income earners to invest if there is a healthy middle class. It seemed that America functioned just fine (likely better) when the income disparity was much lower.

]]> By: PanicattheDiscord http://iamerica.backyardpolitics.org/blog/2008/11/11/sometimes-bankruptcy-is-good-for-the-country/comment-page-1/#comment-8 PanicattheDiscord Mon, 17 Nov 2008 06:54:00 +0000 http://www.backyardpolitics.org/blog/?p=27#comment-8 GM posted this tonight, it seems they really want their share of the bailout money! They are even claiming that they should be bailed out with $25 Billion because it will save the U.S. government $140 Billion in lost tax revenues. What they don't tell you in this video is that the jobs and gdp lost when the big three go down will be replaced by the better companies that would replace them, or by themselves scaled down and restructured similar to the Airline industry a few years back. Their statistics are only true if the auto industry is simply non existent after they leave, but we know that wont be true. Honda and Toyota would just increase their market share and hire more U.S. employees, and as I said before, newer or scaled down companies would replace them. Here is their new "ad" attempt at getting their part of the free money. <a href="http://www.youtube.com/watch?v=72cHfOKoA1c&eurl" rel="nofollow">http://www.youtube.com/watch?v=72cHfOKoA1c&eurl</a> GM posted this tonight, it seems they really want their share of the bailout money! They are even claiming that they should be bailed out with $25 Billion because it will save the U.S. government $140 Billion in lost tax revenues. What they don’t tell you in this video is that the jobs and gdp lost when the big three go down will be replaced by the better companies that would replace them, or by themselves scaled down and restructured similar to the Airline industry a few years back. Their statistics are only true if the auto industry is simply non existent after they leave, but we know that wont be true. Honda and Toyota would just increase their market share and hire more U.S. employees, and as I said before, newer or scaled down companies would replace them. Here is their new “ad” attempt at getting their part of the free money.

http://www.youtube.com/watch?v=72cHfOKoA1c&eurl

]]> By: Chris http://iamerica.backyardpolitics.org/blog/2008/11/11/sometimes-bankruptcy-is-good-for-the-country/comment-page-1/#comment-7 Chris Sun, 16 Nov 2008 21:34:54 +0000 http://www.backyardpolitics.org/blog/?p=27#comment-7 This from Yahoo news Friday: "Democrats in the lame-duck Congress are pressing for a bailout of Detroit's Big Three automakers with money taken from the $700 billion Wall Street rescue. But President George W. Bush and many Republicans have come out against the idea, arguing that the financial rescue package was not intended for such uses, and that a bailout would reward poor management and lead other industries to demand government handouts, too." <a href="http://biz.yahoo.com/ap/081114/meltdown_autos.html" rel="nofollow">Full story from Yahoo</a> Isn't that what they already did exactly? Bailout companies who were irresponsible and poorly managed? And how would bailing out the auto industry whose downfall they are in part responsible for be any different from bailing out wall-street whose crisis was in part caused by them too? This from Yahoo news Friday:

“Democrats in the lame-duck Congress are pressing for a bailout of Detroit’s Big Three automakers with money taken from the $700 billion Wall Street rescue. But President George W. Bush and many Republicans have come out against the idea, arguing that the financial rescue package was not intended for such uses, and that a bailout would reward poor management and lead other industries to demand government handouts, too.”

Full story from Yahoo

Isn’t that what they already did exactly? Bailout companies who were irresponsible and poorly managed? And how would bailing out the auto industry whose downfall they are in part responsible for be any different from bailing out wall-street whose crisis was in part caused by them too?

]]> By: Backyard Politics » Blog Archive » All hail king Paulson! http://iamerica.backyardpolitics.org/blog/2008/11/11/sometimes-bankruptcy-is-good-for-the-country/comment-page-1/#comment-6 Backyard Politics » Blog Archive » All hail king Paulson! Thu, 13 Nov 2008 20:45:59 +0000 http://www.backyardpolitics.org/blog/?p=27#comment-6 [...] even going towards bailing out the auto industry like congress is hoping (see my post on that mess).  Where is it going?  King Paulson has royally decreed that he will now shore up the markets [...] [...] even going towards bailing out the auto industry like congress is hoping (see my post on that mess).  Where is it going?  King Paulson has royally decreed that he will now shore up the markets [...]

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