Evidence That Some Sanity May Still Be Exist!!!!
BY: iowatrukker - November 20th, 2008 - 9:15 PM
+168-12 For some, today's decision by the Democratic Leadership in Congress to withhold any "quick fix" to help out the auto industry may have been somewhat disconcerting as stocks took yet another dive!! For others, like myself, it offers a glimmer of hope in a sea of madness!! I see today's action as proof positive that we can get through this and come out the other side battered, disheveled, and bruised but with a new sense of empowerment and resolve!!!
"Damn it, Stan, you seem almost gleeful that our economy now faces a sure recession of proportions not seen in years!", you might be thinking so I need to expound a bit!!
Today's decision is more a product of those Executives who tesified before the Committee and who showed a monumental disdain for both those they were talking directly to and those of us who bothered to take the time to watch these hearings! I can not remember a time ever when I went to my Banker or other business meeting with such disdain for those from whom I was asking for help than these buffoons showed us during their days on the Hill!! Their arrogance and ill-preparedness stunned me to be quite frank about it!! And their Union's intransience about any discussion of concessions also helped seal the fate of getting instant gratification!!! But let us look a little deeper and an amazing thing is happening!!
Why did Congress act as it did today? Is it because the Democrats have finally realised that money does not grow on trees and that maybe the public might actually be watching (and, oh no!! actually discussing what we are doing or thinking about doing!!)? And maybe the News Media finally got it right when they simply reported and showed us the pictures of those nice corporate jets all lined-up instead of advocating a particular point-of-view! And maybe some of us then got on our trusty computers and fired off letters of outrage to officials and they actually listened and took time to let commonsense take its rightful place at the table instead of letting folly and short-sightedness yet rule the day once again!!
Am I advocating deliberately letting our economy go into freefall? No!! But a liitle secret yet to be recognized by some is this ; WE ARE ALREADY IN A FREEFALL!!! It is deep!! It cuts across all sectors of investing! All walks of life!! It will challenge this generation as every other generation has been challenged and those who deny it will be the one's who hurt the longest and bloodiest!!
We walked into the mess one damn step at a time and we will work our way out the same way!! No magic wand!! No amount of capital infusion will suddenly make it all better!! But better it will become! Why?? Because, once America has it's fractured attention span solely focused on any issue, we have a track record of becoming better people and this will be no different!! Saying No!!! as we all know is never pleasant but it is a start!! A start toward a sane answer to an insane problem!! One that we let happen and now we must fix!!
Of course, this is only my humble opinion and...as we all know... opinions are like rearends!! Everyone has one and they usually stink!! But they can't stink anymore than the rot I smell in our economic underbelly!!
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Re: Evidence That Some Sanity May Still Be Exist!!!!
What exactltly do you allude to when you say " I won't argue that."? And your comment about comparing Ford with GM is also vague? I know you have something to say so spell it out!! The entire Domestic car business is in serious disarray right now... that is a fact!! And what do you mean, " GM is managed. Ford is not." The entire business model is in a mess so how would a loan or bailout or any other help work if the basic business model is not rethought?
Re: Evidence That Some Sanity May Still Be Exist!!!!
I won't argue that. But don't you think a loan is a bit different? And you can't compare Ford With GM. GM is a junk company Ford is not. GM is managed, Ford is not.
Re: Evidence That Some Sanity May Still Be Exist!!!!
My basic problem with any government program, intervention or meddling is simply this: By its inherent structure, it is inefficient!! What was the first thing it did after the TARP funds were authorized? It hired consultants (some of the same banks that will end up at the trough!!) to "help" them implement the funding rules!! And how much of each tax dollar taken in is actually available to the people the programs such as welfare, or food stamps, or any other government program or spending authorization is meant to help? By some well-researched reports,only between 15 -25 %!! The rest is eaten up by the bureaucratic machine itself as wages, etc.!! Contrast that to well-run foundations and charities or businesses where 85-90% of allocated dollars get to the actual intended purpose!! The only people wanting Government involved are the bureaucrats and employees of the Government!! And who IS the largest employer in America? The answer is the Government!! When is the last time any Government program was sunsetted after its intended purpose was accomplished? Eisenhower was so right when he talked of the Military/Industrial Complex...and now we want to expand that into the private sector as well??
Something to chew on before you get all giddy and gleeful about good 'ol Uncle Sam "helping" anyone but itself!!! My dad used to say that "all money ain't good money!"...I now have an idea just what he might have been talking about!! First control their minds: then control their wallets!!! Seems like I have seen this model somewhere before!! By god!! I have!!...In the great Communist experiments of the last century!!!! Stop and really smell the coffee here folks!!! It is an abyss I think we need to really, really look at before we make a monumental mistake!! Yes!! some jobs, money, and personal sacrifice will be required!! But we can reinvent ourselves, create new jobs, AND prosper on our own!! Self-reliance has served us well since our inception as a Nation so why give up a proven model for the sake of a few bruised egos, or fortunes, or assured profitability? I, for one, am not ready to yet climb on board this bus!! The trade-offs are simply too invasive and mind-boggling to comtemplate!! Iowatrukker
Re: Evidence That Some Sanity May Still Be Exist!!!!
Remember the government can't give without taking first. Especially because it is the taxes paid by the successful who bail out those who make the bad choices. Why try if you will lose to those who don't. That is why Socialism FAILS.
Re: Evidence That Some Sanity May Still Be Exist!!!!
Life and business both have conseqences!! Make good choices and you succeed!! Make bad one's and you pay the price!! If we bailout all bad choices, then where are the conseqences? And under what scenario does it say all succeed all the time despite their choices??? I, personally, can't run my life or businesses that way so why should others?? This is a very slippery slope!! Very slippery indeed!!
Re: Evidence That Some Sanity May Still Be Exist!!!!
The way I see it is this. If you own a resteruant that is making a million per year in profit, Why should your town mayor charge you a half of a million to bail out the rest. across the street who is losing because of mismanagment? People in America do and will buy cars. If you can't make them and make a profit, you deserve to fail and get out of the way of the new company that can. Simple.
Re: Evidence That Some Sanity May Still Be Exist!!!!
i am implying nothing!! I am saying it out loud!! Sooner or later sound business practices must outweigh easy money!! Or you are out of the game!!
Re: Evidence That Some Sanity May Still Be Exist!!!!
So are you implying that the auto co's shouldn't be bailed out even though it is just a loan?