Hedge funds are gambling, while production is crashing. The real estate bubble is over, and going down. New York City is beautiful, that's why I take pictures of it, but it's the belly of the beast.

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Wall St. Obama and Cars

November 23rd 2008 00:49

Real Crash- Looking at Capitalism and its Laws:

dead cat bounce

The Auto industry could have been saved or restructured up to 2 years ago. Now there is not much left. The USA needs a GIANT program for infrastructure. Get the machine tool capability of the US Auto Industry as part of rebuilding the bridges, railroads, etc. If Mr. Obama fools around it will not work.

Busting of Unions, especially at this time, is part of a Nazi-style program for austerity, ie. Hitler's first finance minster, Hjalmar Schacht. True the Japanese, etc produce 4 million cars a year in the USA at lower salaries, but the US Auto Industry has always been an all-around machine tool capability, much more than "cars."

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Posted By: Howard - Category: No Category

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Comment by S.L.

November 23rd 2008 02:10

The Political Brief

The union wages and benefit packages, Howard, especially at the top levels, have caused a large part of the suto industry's problems. Those turkeys flying in on their private jets and asking for 25 billion dollars with no plan whatsoever, made them look very bad. They'd have kept up expenses for a couple of months and then come back for more. If they don't renegotiate their union contracts and restructure their business practices, taking pay cuts themselves, they'll go under. The new "secret ballot removal" isn't going to help them to anything but poverty. Airlines have gone through bankruptcy and restructuring and their planes still fly.

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