I know that The Daily Show isn't supposed to be serious and I'm not supposed to take things I hear on the show seriously. But.....in interviewing Gwen Ifill, Jon Stewart laid out what I actually really and truly think is a better bailout plan.
Instead of giving the banks $800 billion why not give that money to the American people to be used to pay off mortgages and credit debt?
I'm sure someone with a firmer grasp of economics could poke big man-sized holes in this idea but, on the face of it, it sounds pretty damned good to me. It would kickstart the economy like nobody's business, the banks would get a huge influx of money, Americans would pay off their debts, the economy would slam from idle to fourth gear almost overnight.
Can someone explain why this wouldn't work?
And if it would work then can someone pitch the idea to Obama? Unlike the last guy, Obama seems to actually give a damn about ideas that other people come up with.
Showing posts with label bailout. Show all posts
Showing posts with label bailout. Show all posts
1.27.2009
12.16.2008
Thwarted
Today's word of the day is thwarted.
As in, I was thwarted from a good night's sleep by the rain pounding on the house and some stuffed up sinuses.
Or, I was thwarted from sleeping until my alarm clock went off because Sullivan woke up extra early and was downstairs helping himself to some breakfast (he's two and a half years old).
Or, I was thwarted from a peaceful start to the day because Sully had an enormous and nasty shit in his diaper (which is why he was awake so early).
Or, I was thwarted from staying out of the rain and cold this morning because I'd forgotten to take the trash up last night though it was raining harder then).
Or, I was thwarted from feeling decent about humanity when I heard the news that the scumfucks at AIG are going to give huge executive bonuses on yours and my bailout money. But, instead of calling them bonuses, they are calling them, "retention payments", I wish I were making that up.
I am tempted to thwart the rest of my day and go back home and get back in bed.
Isn't the word of the day fun?
No, not really. I think I'll make up for it by saying squat out loud a few times.
As in, I was thwarted from a good night's sleep by the rain pounding on the house and some stuffed up sinuses.
Or, I was thwarted from sleeping until my alarm clock went off because Sullivan woke up extra early and was downstairs helping himself to some breakfast (he's two and a half years old).
Or, I was thwarted from a peaceful start to the day because Sully had an enormous and nasty shit in his diaper (which is why he was awake so early).
Or, I was thwarted from staying out of the rain and cold this morning because I'd forgotten to take the trash up last night though it was raining harder then).
Or, I was thwarted from feeling decent about humanity when I heard the news that the scumfucks at AIG are going to give huge executive bonuses on yours and my bailout money. But, instead of calling them bonuses, they are calling them, "retention payments", I wish I were making that up.
I am tempted to thwart the rest of my day and go back home and get back in bed.
Isn't the word of the day fun?
No, not really. I think I'll make up for it by saying squat out loud a few times.
12.12.2008
To Bail or Bailout?
I think an awful lot of attention has been put on this proposed bailout of the Big 3 US automakers. There are several realities that should be kept in mind. The money the Big 3 are asking for is almost nothing compared to the already approved bailout of the financial markets, $34 billion compared to $700 billion is a drop in the bucket really. And there was far, far less complaining about bailing out Wall Street.
Which, in the light of Bernard L. Madoff's admission of a $50 billion dollar fraud, might be needing more than a little more attention. It might just need some clarity of what the bailout is doing, who its saving and where the hell our money is going and why. Madoff's fraud alone could have covered the full request from the Big 3 with enough left over to build a brand new auto industry that doesn't suck balls.
Which brings me back to the Big 3. Chrysler has been bailed out before, they didn't learn anything or change their practices and are so far in debt and, literally, have no chance of ever balancing their books. Giving them more money to keep going is like giving a bottle of alcohol to the dying homeless alcoholic, it might soften the inevitable but the body is withering and dying regardless. I say Chrysler is allowed to die the death it has earned for itself. GM is in a similar place, maybe not quite so dire but still dire enough that they are absolutely pleading for an immediate cash infusion to keep the factories running and producing vehicles that can't compete with the Japanese automakers. Let GM die too.
Ford is the only one of the three that isn't utterly desperate for an infusion. They can use the cushion in case the US economy continues its freefall but they should be able to survive on their own.
The problem is, in my admittedly neophytitic understanding, that there is just too much overhead on the Big 3 combined with, to be honest, sub-standard products. Chryslers suck, I'd never even consider buying one. GM cars are like bad copies of other company's cars. Ford makes a decent car and I have to admit that I love our Escape. It is the overhead that is annihilating these companies. I've been looking at numbers and, from what I've read, a worker at GM costs $69 an hour to employ and gets paid about $30 an hour. The same worker at a Toyota plant, in the US, costs $48 an hour to employ and gets paid the same about $30 an hour.
A company cannot compete with an inferior product and a nearly 50% higher per hour cost for workers. It is just not a viable business model and throwing more money at the problem is just a waste of money that could be better spent in training and assisting the workers at those dying companies.
Honestly, to hell with the piss-poor and arrogant management, engineers and designers. They caused this mess with their stupidity and, dammit, I don't see why they should be bailed out. If they'd been actually trying to make a better car then they wouldn't be in this mess. Calling the bailout a loan is a lie, the money will be gone forever, wasted on companies that are collapsing under their own weight, like a beached whale that can no longer survive even if it is dragged back into the ocean.
I must say, it feels odd to be in agreement with the Republicans on this issue.
Which, in the light of Bernard L. Madoff's admission of a $50 billion dollar fraud, might be needing more than a little more attention. It might just need some clarity of what the bailout is doing, who its saving and where the hell our money is going and why. Madoff's fraud alone could have covered the full request from the Big 3 with enough left over to build a brand new auto industry that doesn't suck balls.
Which brings me back to the Big 3. Chrysler has been bailed out before, they didn't learn anything or change their practices and are so far in debt and, literally, have no chance of ever balancing their books. Giving them more money to keep going is like giving a bottle of alcohol to the dying homeless alcoholic, it might soften the inevitable but the body is withering and dying regardless. I say Chrysler is allowed to die the death it has earned for itself. GM is in a similar place, maybe not quite so dire but still dire enough that they are absolutely pleading for an immediate cash infusion to keep the factories running and producing vehicles that can't compete with the Japanese automakers. Let GM die too.
Ford is the only one of the three that isn't utterly desperate for an infusion. They can use the cushion in case the US economy continues its freefall but they should be able to survive on their own.
The problem is, in my admittedly neophytitic understanding, that there is just too much overhead on the Big 3 combined with, to be honest, sub-standard products. Chryslers suck, I'd never even consider buying one. GM cars are like bad copies of other company's cars. Ford makes a decent car and I have to admit that I love our Escape. It is the overhead that is annihilating these companies. I've been looking at numbers and, from what I've read, a worker at GM costs $69 an hour to employ and gets paid about $30 an hour. The same worker at a Toyota plant, in the US, costs $48 an hour to employ and gets paid the same about $30 an hour.
A company cannot compete with an inferior product and a nearly 50% higher per hour cost for workers. It is just not a viable business model and throwing more money at the problem is just a waste of money that could be better spent in training and assisting the workers at those dying companies.
Honestly, to hell with the piss-poor and arrogant management, engineers and designers. They caused this mess with their stupidity and, dammit, I don't see why they should be bailed out. If they'd been actually trying to make a better car then they wouldn't be in this mess. Calling the bailout a loan is a lie, the money will be gone forever, wasted on companies that are collapsing under their own weight, like a beached whale that can no longer survive even if it is dragged back into the ocean.
I must say, it feels odd to be in agreement with the Republicans on this issue.
12.03.2008
Bailouts and Bullets
I haven't posted anything about the proposed Big 3 Automaker bailout yet nor have I said anything about Plaxico Burress' self-inflicted drunken gun shot wound. So I thought I'd kill two birds at once.
The first, I don't support a bailout of Ford, GM and Chrysler. GM and Chrysler make shitty cars, they've always made shitty cars and they've shown no signs of improving their product. Ford is the most viable of the three, they make decent cars and have demonstrated an interest in making better cars. But it isn't even really about the product entirely. Its about allowing a free market to function as a free market, that means profits and losses. What the Big 3 are doing now is attempting to create a win/win situation for themselves, a free market profit system protected by socialized risk.
And, sorry, but that's bogus. Chrysler has been bailed out before, they didn't learn and I strongly believe they should be allowed to wither and die. GM doesn't really do much innovation, they're like an off-kilter copy machine making bad copies of other cars.
Plus, the whole three private jets to Washington thing was ridiculous. And the second round of driving from Detroit to Washington in hybrids is equally stupid. Just fly commercially and quit trying to make a statement about how contrite you are when we all know you very obviously are not.
On to Plaxico Burress.
F*cktard behaviors:
Being fined 40-50 times by your own team.
Taking a gun to a nightclub.
Not having a license to carry said pistol.
Not bothering to secure the gun in a holster.
Owning a gun without a real safety.
Drinking with a gun in your belt.
Trying to give a fake name to the hospital.
Convincing the hospital to not report the gun shot wound.
Did I miss any?
While I don't put Plaxico Burress on anywhere near the same plane as Michael Vick (who should never be allowed on an NFL field for any reason whatsoever), Burress has demonstrated an appalling lack of judgment.
The first, I don't support a bailout of Ford, GM and Chrysler. GM and Chrysler make shitty cars, they've always made shitty cars and they've shown no signs of improving their product. Ford is the most viable of the three, they make decent cars and have demonstrated an interest in making better cars. But it isn't even really about the product entirely. Its about allowing a free market to function as a free market, that means profits and losses. What the Big 3 are doing now is attempting to create a win/win situation for themselves, a free market profit system protected by socialized risk.
And, sorry, but that's bogus. Chrysler has been bailed out before, they didn't learn and I strongly believe they should be allowed to wither and die. GM doesn't really do much innovation, they're like an off-kilter copy machine making bad copies of other cars.
Plus, the whole three private jets to Washington thing was ridiculous. And the second round of driving from Detroit to Washington in hybrids is equally stupid. Just fly commercially and quit trying to make a statement about how contrite you are when we all know you very obviously are not.
On to Plaxico Burress.
F*cktard behaviors:
Being fined 40-50 times by your own team.
Taking a gun to a nightclub.
Not having a license to carry said pistol.
Not bothering to secure the gun in a holster.
Owning a gun without a real safety.
Drinking with a gun in your belt.
Trying to give a fake name to the hospital.
Convincing the hospital to not report the gun shot wound.
Did I miss any?
While I don't put Plaxico Burress on anywhere near the same plane as Michael Vick (who should never be allowed on an NFL field for any reason whatsoever), Burress has demonstrated an appalling lack of judgment.
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