Originally Posted by Old Mechanic
When the mega inflation hits, they won't have to worry about paying back the loan. They can pay it back with monopoly money because that's about what is going to become of the US dollar.
Thriving economies are like efficient cars. They both require everything to be working properly, and care and maintenance.
This economy has been fiddled with to death, playing with interest rates, playing with accounting principles, anything but actually doing the work and understanding the rules are based on centuries of practical experience.
The DOT COM "boom". Buy stocks at 200 to 1 PE ratios because they are going to be worth a fortune in just a few years. Throw away technology. The information age.
In all this finagling, the basic principle of producing a product and putting money in the bank by creating worthwhile tangible assets was lost.
We have become a nation of consumers relying on our accumulated wealth to finance our future.
I grew up with the computer age. The computer was supposed to make our lives easier, by eliminating redundant, boring, back breaking work. It was much the same as the automation of the assembly line.
Now the growing field of employment is what? IT?
Laughable.
From the peak of 600k employees, GM now has 40k, a mere shadow of itself in its prime.
$50,000,000,000 to keep
40,000 jobs
Hmmmm, that math seems weak to me. The scales do not balance.
Isn't that the same as
$50,000,000 to keep
40 jobs?
Boys and girls maybe I am too old and too dumb to do the math, but if my ancient brain is still working that's;
$1.25 million per job.
My cheap solar powered calculator that is at least 15 years old will not do enough digits for 50,000,000,000.
Ford closed it's truck plant in Norfolk Virginia a few years back. They offered their long time employees something like $30-70,000 buyouts for them to get no retirement.
Bet those 23 year vets of the Ford assembly line would have really loved
1.25 million each.
Today your govt is engaged in the greatest crime in history, and you call it change you can believe in.
It's change I doubt few even understand, but at the rate they paid off GM it won't take much longer for our national net worth, which took over 2 centuries to accumulate, to disappear.
You won't get it from the rich, they have mobility and will just go where mass stupidity doesn't buy votes, to propagate more mass stupidity. Like the intellectuals left Germany during the thirties.
God help the poor when the wealth is no longer there to be transferred to them because they "deserve" it.
For a single share of the GM bailout I could build a frigging car that GM COULD make money on, and COULD pay back their "loan".
"And Cassandra stood on the highest wall near the gate, as the Trojan soldiers dragged the obscene monument into the city.
She screamed a warning, but no one listened and the celebration went on, as the ignorant revelled on the last night of their lives."
regards
Mech
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