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(Big 1059)   Obama last week: "Thanks to the bailout, the auto industry is roaring back". This week: Yeah, about that   (big1059.com) divider line 202
    More: Followup, Obama administration, rescue  
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3460 clicks; posted to Business » on 17 Aug 2012 at 1:51 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-17 01:24:50 PM
Incremental Bankruptcy?
 
2012-08-17 01:28:20 PM
Thanks, Glenn Beck, for the cemented-in-reality update.
 
2012-08-17 01:28:52 PM
Looks like instead of posting from Glenn Beck's site directly, Fark is going to post from websites that repost from Glenn Beck's website.

Incidentally, it's not a real loss until the loss has been realized (i.e. after you sell it).
 
2012-08-17 01:34:41 PM
way to back-door in a glen beck link, subby. you're a real asshole.
 
2012-08-17 01:35:26 PM
OMG!

Stock prices go both up and down?!?!

EVERYBODY PANIC!!!!
 
2012-08-17 01:38:45 PM
Look, Glenn. I know you want GM to fail so your point-of-view can be proven right. I get that, dude. Totally.

However, when an investor changes their balance sheet to reflect current market conditions, that f*cking sh*t ain't news. Well, unless it's Citigroup moving a few billion off their fake sheet onto their real sheet. Sheet hit the fan, but the evil gubmint made that pain feel all better.

OK, Glenn... Let me spell this out for you. When the credit ratings agencies issue a statement that you are worthless, you're worthless. That's how this game works. sure, it's rigged and it sucks, but that's the way of life. This has not happened. They are still selling cars. they are making money and doing business. Millions of people have jobs associated with or secondarily touched by revenue generated by this company.

The fact that you don't appreciate this fact, of the economic costs to so many... simply defines you as a sociopathic bastard who enjoys watching people hurt for his own pleasure/gain. You gotta stop that, dude. I mean, I know you've been improving since 1990, but the urge may rise again. Think of those poor, innocent girls out there in the rust belt. Just think of them... NO! Not like that!

Man, we're done here. you need help. Serious help. PROFESSIONAL help!

You just keep praying for them to fail and using math (numbers), that you really don't understand, to prove your theories. It calms you. It pleases you friends. Carry on my wayward son.
 
2012-08-17 01:40:09 PM
A Real American would just mine all the raw materials himself, forge the metals, and build his own car!

Then he'd get to yell "I BUILT THIS MYSELF, FARTBONGO!"
 
2012-08-17 01:42:40 PM

baka-san: OMG!

Stock prices go both up and down?!?!

EVERYBODY PANIC!!!!


If you privatize Social Security the markets are guaranteed to always go up, never down

/no, really
//it's a sure bet
 
2012-08-17 01:44:14 PM

MaudlinMutantMollusk: baka-san: OMG!

Stock prices go both up and down?!?!

EVERYBODY PANIC!!!!

If you privatize Social Security the markets are guaranteed to always go up, never down

/no, really
//it's a sure bet



Glad I invested in GOLD! It will never go down!!!
 
2012-08-17 01:44:20 PM

Blues_X: A Real American would just mine all the raw materials himself, forge the metals, and build his own car!

Then he'd get to yell "I BUILT THIS MYSELF, FARTBONGO!"


http://www.automobilemag.com/green/news/0901_wooden_supercar_splinter /
 
2012-08-17 01:47:15 PM

MaudlinMutantMollusk: If you privatize Social Security the markets are guaranteed to always go up, never down

/no, really
//it's a sure bet


I remember reading an article that did out the math and realized that SS would own a stake in pretty much every company on the NYSE. I mean, as much as the capitalists want it for the fee & bonuses, I can't think of a better definition of Socialism. We'll own the private market and use it for social services. I mean, holy shiat. Their shortsighted-greed doesn't comport with their short-term voracious Capitalism intents. It's not surprising, but when you lay it out like that, even they go "UH" but then quickly push that to the back of their minds as they salivate over the fees it would generate for them.
 
2012-08-17 01:53:33 PM
A Blaze article disguised under a Big 105.9 link. How dare you besmirch the name of Miami's Classic Rock like that.
 
2012-08-17 01:54:06 PM
Glen Beck made a fortune in tinfoil.
 
2012-08-17 01:54:23 PM
fark you and your stupid wrapper sites around Glenn Beck's propaganda site
 
2012-08-17 01:55:05 PM
I encourage Republicans to keep cheerleading for the demise of American industry. GM and Ford will carry on despite your best efforts to kill them.
 
2012-08-17 01:57:02 PM
Thought the image said BIE 105.9, was disappointed.
 
2012-08-17 01:57:03 PM
GM is too big to fail. Why worry about being competitive?
 
2012-08-17 01:58:36 PM

thomps: way to back-door in a glen beck link, subby. you're a real asshole.


So they're not only a moron, they're a coward as well.

/Never be ashamed of who you are, Subby. You're a warrior, be proud.
 
2012-08-17 01:58:41 PM
All we need is a Free Republic link and Fark's week long lovefest to lying rightwing bullshiat will be complete.
 
2012-08-17 01:59:01 PM

Asako: GM is too big to fail. Why worry about being competitive?


it's been doing very will with its expansion into emerging markets, apparently the big issue has been a strong dollar and cooling emerging market growth. gm has become competitive, it's just dealing with a sh*tty economy, as are we all.
 
2012-08-17 01:59:05 PM
And if its posted on big105.9!! It has to be true!! Now be sure to tune in for Crazzzzyyy lenny and the douche for your morning drivetime hilarity!!!
 
2012-08-17 01:59:32 PM
"I pushed the idea of a managed bankruptcy, and finally when that was done and help was given, the companies got back on their feet, so I'll take a lot of credit for the fact that this industry's come back."

- Mitt Romney
 
2012-08-17 02:01:06 PM
Man I can't tell you how glad I am to know I'm not the only one who turns to Miami's Classic Rock, Big 105.9 for my news on politics and the economy.
 
2012-08-17 02:01:46 PM
GM stock appears to be following the same trend as the entire auto industry, which was up 30% over the summer, and then down now to wear it was 9 months ago. GM's stock is down, but the P/E ratio is good, around 7, where Honda's is 15, for example.
 
2012-08-17 02:02:00 PM
Refresh my memory: some of the entities bailed out were already repaying the loans (bailout monies, whatever you prefer to call them).

Is GM one of these, or was their bailout all based on stock?
 
2012-08-17 02:02:33 PM
Assume the worst case scenario: Assume we eat all $50 Billion we spent rescuing GM. It STILL would have been worth it. Why? GM, Chrysler and Ford employ directly, and through thier suppliers, roughly 10 Million people. So by that metric alone we are looking at on $5,000 per job saved, which is a lot less than the likely unemployment comp payments would have been, even before you factor in the giant pension liabilities the PBGC would have been saddled with and the domino effect their collapse would have had on American manufacturing in general.

Now, the fact is, depending on how and when we dump this stock, we may be looking at an actual loss of somewhere between $0 and $15 billion, which make the bailout an even bigger bargain no matter how you slice it.
 
2012-08-17 02:02:38 PM

RexTalionis: Looks like instead of posting from Glenn Beck's site directly, Fark is going to post from websites that repost from Glenn Beck's website.

Incidentally, it's not a real loss until the loss has been realized (i.e. after you sell it).


The Tardmins do a lot of that, apparently thinking this renders their trolling of the Politics tab less blatant.
 
2012-08-17 02:02:44 PM

NewportBarGuy: I mean, as much as the capitalists want it for the fee & bonuses, I can't think of a better definition of Socialism. We'll own the private market and use it for social services. I mean, holy shiat. Their shortsighted-greed doesn't comport with their short-term voracious Capitalism intents. It's not surprising, but when you lay it out like that, even they go "UH" but then quickly push that to the back of their minds as they salivate over the fees it would generate for them.


Yeah because I really want Goldman Sachs and a de-regulated financial industry to get their claws on Social Security.

*poof*
 
2012-08-17 02:03:38 PM
STOP WRAPPING BULLSHIAT SITES AROUND OTHER SOURCES ASSHOLES
 
2012-08-17 02:03:38 PM

czei: GM stock appears to be following the same trend as the entire auto industry, which was up 30% over the summer, and then down now to wear it was 9 months ago. GM's stock is down, but the P/E ratio is good, around 7, where Honda's is 15, for example.


and it recently destroyed profit estimates with its quarterly results.
 
2012-08-17 02:03:38 PM

rufus-t-firefly: "I pushed the idea of a managed bankruptcy, and finally when that was done and help was given, the companies got back on their feet, so I'll take a lot of credit for the fact that this industry's come back."

- Mitt Romney


Unfortunately, for Dickface, the U.S. Treasury was the only financial entity that stepped up with DIP financing. Amazing how capitalism was saved by "socialism." When the needs of the country as a whole are supported by the country's bank account, these people have no idea what to make of it.

Managed bankruptcy with government funds! Hey, I was half right, and such! hehehehe... He's such a f*cking lying douchebag.
 
2012-08-17 02:05:21 PM
And on Monday when GM's stock fell 0.3 percent to $20.47 a share,

DOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO *breathes deeply*

OOM!
 
2012-08-17 02:05:32 PM

baka-san: OMG!

Stock prices go both up and down?!?!

EVERYBODY PANIC!!!!


When the stock price goes up, it's because of the free market.
When the stock price goes down, it's because Obama's a socialist.

Got it?
 
2012-08-17 02:05:57 PM

NeverDrunk23: All we need is a Free Republic link and Fark's week long lovefest to lying rightwing bullshiat will be complete.


Weeklong? It won't be safe to come in here without a hazmat suit on until well after the election.
 
2012-08-17 02:07:18 PM

bdub77: Yeah because I really want Goldman Sachs and a de-regulated financial industry to get their claws on Social Security.

*poof*


Oh, privitazation is dumbest thing every thought of for SS. Let me make that clear!
 
2012-08-17 02:09:06 PM
Thank you. We had this yesterday on the Business tab and it was really out of place. This is the correct location for you to postulate what would have happened had your idealism been applied to GM and how the result would have been morally right, economically superior, and a testament to the superiority of your political leanings.

Since we can't have a double blind comparison with historical economic events, this will have to do.
 
2012-08-17 02:09:09 PM
0bama through his investment in GM, has become one of the biggest outsourcers and job cutters in history.

(that is how it works, right? blame the investor for what the company does).
 
2012-08-17 02:09:10 PM
Read more: The Blaze

No thanks.
 
2012-08-17 02:09:31 PM

Lunatic Calm: Thought the image said BIE 105.9, was disappointed.


Big 105.9 is a classic rock station from Miami.

Why it has political news on it should is beyond me, but I think it has something to do with being owned by Clear Channel.
 
2012-08-17 02:09:33 PM

Odd Bird: Refresh my memory: some of the entities bailed out were already repaying the loans (bailout monies, whatever you prefer to call them).

Is GM one of these, or was their bailout all based on stock?


GM's debt converted to equity during the bankruptcy process. There were some loans which are tied to "Old GM", much of which won't be repaid. there were some loans outstanding as part of new GM that were paid in full.

Chrysler's story is similar, as is AIG (minus the bankruptcy filing).
 
2012-08-17 02:09:34 PM
The only thing keeping GM afloat is bloated government fleet sales (which aren't considered as part of the cost of the bailout, even tho the money is coming out of the taxpayers' pockets). Once every government employee has a car, GM will fail again.

/let it go. not one more penny of tax money.
 
2012-08-17 02:10:15 PM

tenpoundsofcheese: 0bama through his investment in GM, has become one of the biggest outsourcers and job cutters in history.

(that is how it works, right? blame the investor for what the company does).


Why do you hate the job creators?
 
2012-08-17 02:10:47 PM
So, wait, are they now saying that stock prices are indeed an accurate reflection of how a President is doing? Because that would be a feather in Obama's hat.
 
2012-08-17 02:11:05 PM
Let me see if I got this right - the economy tanked under Bush. so he expanded government by a third and dropped interest rates to almost zero. Deficit spent like there is no tomorrow, cut taxes, sent us $600 checks before the election, and unfunded two wars. Economy picks up and then crashes into what history will probably describe as a depression. Unemployment hits 10% in September of Obama's first year - when the previous administration's economic policies are still in affect. The U-6 rate (the unemployment numbers Hannity, Limbaugh, et al are railing about) goes up to almost 20%. Then the car makers tank. Had Obama let them sink (which I believe they deserved to), all of those employees are out on the street. But not just them - that includes all their suppliers. The towns they live in get less tax revenue and entire communities collapse. A HUGE domino effect. Then the unemployment rate goes to 12% and the U-6 rate up to 25%. The talking fanatics would have not given Obama any credit for not bailing out, but instead railing about the staggering unemployment rate. What other options did Obama have? Deficit spend like Reagan and Bush 43? No - no money - we were completely broke already. Lower interest rates? Already at zero. When Reagan followed trickle-down economics, manufacturing was 30% of our GDP - it's down to 10% now because of jobs lost to China.

There simply was no other play that actually helped the economy. I hated the bailout, but it was the least stinky turd. And no matter what Obama did, there would still be tons of butthurt from the right. Don't believe me? Obama is getting blistered now for killing Bin Laden. Next up? Obama tore the tags off his mattress - an impeachable offense.

/conservative embarrassed by the republican party.
 
2012-08-17 02:11:05 PM

DrPainMD: The only thing keeping GM afloat is bloated government fleet sales (which aren't considered as part of the cost of the bailout, even tho the money is coming out of the taxpayers' pockets). Once every government employee has a car, GM will fail again.

/let it go. not one more penny of tax money.


i'm sure you have a wonderful citation for that claim.
 
2012-08-17 02:11:17 PM

DrPainMD: The only thing keeping GM afloat is bloated government fleet sales (which aren't considered as part of the cost of the bailout, even tho the money is coming out of the taxpayers' pockets). Once every government employee has a car, GM will fail again.

/let it go. not one more penny of tax money.


Yes, crippling the nations automotive industry is EXACTLY what we need to get out of this anemic growth.

/just not in the way we want
 
2012-08-17 02:11:25 PM

tenpoundsofcheese: 0bama through his investment in GM, has become one of the biggest outsourcers and job cutters in history.

(that is how it works, right? blame the investor for what the company does).


I guess, but since it was Bush who gave them the money, wouldn't he be the investor who outsourced jobs?

/ in before misused "b-b-b-but Bush!" meme as if the man didn't explicitly take credit for the bailout in own goddamn book
 
2012-08-17 02:11:27 PM

DrPainMD: The only thing keeping GM afloat is bloated government fleet sales (which aren't considered as part of the cost of the bailout, even tho the money is coming out of the taxpayers' pockets). Once every government employee has a car, GM will fail again.

/let it go. not one more penny of tax money.


I heard this yesterday. Where is this meme coming from?
 
2012-08-17 02:12:23 PM

Blues_X: A Real American would just mine all the raw materials himself, forge the metals, and build his own car!

Then he'd get to yell "I BUILT THIS MYSELF, FARTBONGO!"


onscreencars.com
 
2012-08-17 02:12:55 PM

Vegan Meat Popsicle: STOP WRAPPING BULLSHIAT SITES AROUND OTHER SOURCES ASSHOLES


Yeah. Poor form, Fark. Poor form.
 
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