All i can say is that it warms my heart to see the difference between what is going on in Ford, and GM right now as Ford resisted the government money, and they are thriving (when compared to GM) as a result of it. Now if we could just convince people to ditch all the banks who took government money as well, we would really be laughing.
Indeed many have, but it doesnt change the fact that i dont want the government getting involved in the private sector. I said that if i had to choose between the government lgiving money to people who will pay it back(business), and giving money to people who wont i would take the former, but that still doesnt change the fact that the government has no business lending money to anyone. Half the reason we are in this mess is because the government got into the business of choosing winners and losers, and it doesnt work.
My beef is the treatment of the GM bondholders and the idea that Obama handed the company over to the unions who supported his political campaign in 2008.
fha loans have been subsidizing the housing market we have massive food and other inflation the banks have seen billions and billions in subsidies which will never be paid back.
We need to get rid of All subsidies and impose a flat tax. Until it is mandatory that everyone pays the same amount in taxes, there is going to be be people buying off congress in order to pay a different rate. The government has no business picking winners and losers, as 95% of the time they get it wrong, and we end up subsidizing old out dated businesses.
Just like home prices were "expected" to rebound sharply last August, but have been falling for 7 months in a row.
There is no harm to the consumer at all, so long as a future bailout isn't needed in order to help the auto companies or the dealers who have taken all that inventory. This isn't about the consumer, though. I agree, if this were true capitalism, let the auto companies stuff all they want, eventually the consumer would see a markdown in the price of inventory - which is a good. The problem is the shareholders are told sales are improving, when in reality this is just an accounting gimmick.