GM to shed quarter of workforce this year (1 Viewer)

[danarhea]

So I have one question. Automakers are cutting jobs, and producing fewer products. Textile manufacturers are almost extinct. Most products sold at Wal-Mart are manufactured in China. So what is our economy based on? It used to be gross national product, but that was changed long ago to reflect goods and services. However, if we are no longer making goods, then is our economy based on how many people are greeted at Wal-Mart, or how many burgers are flipped at McDonald's? Doesnt make sense to me, but the notion of a fiat currency does. Our money only has the debt of others backing it, and it can only go on so long before our own crushing debt destroys our economy. Its nothing but a huge ponzi scheme, and no ponzi scheme can go on forever. Sooner or later, something has to give. When that happens, give a big thank you to the Bushneviks, along with the tax and spend Democrats, for destroying our Republic. Neither love America enough to truly take care that it is able to stay strong. Third world status, here we come, and we have our leaders to thank for it.

Article is here.

 

[Jay R]

Well I'm, no economist but it seems clear that the situation is becoming increasingly precarious, eventually there will be a collapse, more a matter of time than anything else, these sorts of things come along once in a while and upset economies. Unfortunately when it does happen America will take the whole global economy with it, so important is the US market. I will predict however that once the s*** does hit the fan then all the American Conservatives who are so in favour of the market force of competition governing economics will switch to demanding protectionism and increased import tariffs, suddenly the numbers and quality of jobs available to Americans will become a pillar of their politics once a depression drives consumption into the ground.:roll:

I'm not sure of the history but wasn't the USSR in huge debt to the US when it went under?

Just one point about the closures, with my limited knowledge of the car industry and union relations I can tell you that if the average age of a plant is around 50 it will almost always vote in favour of the company's redundancy package, at least that's how it goes in the UK. Old guys are already mortgaged and they'll always take the money and run, it's young plants that will fight for their jobs, you can generally tell if a company is lining a plant up for closure if they aren't taking in apprentices and first timers, 'last in, first out' redundancy policy can also be a giveaway.

 

[hipsterdufus]

So I have one question. Automakers are cutting jobs, and producing fewer products. Textile manufacturers are almost extinct. Most products sold at Wal-Mart are manufactured in China. So what is our economy based on? It used to be gross national product, but that was changed long ago to reflect goods and services. However, if we are no longer making goods, then is our economy based on how many people are greeted at Wal-Mart, or how many burgers are flipped at McDonald's? Doesnt make sense to me, but the notion of a fiat currency does. Our money only has the debt of others backing it, and it can only go on so long before our own crushing debt destroys our economy. Its nothing but a huge ponzi scheme, and no ponzi scheme can go on forever. Sooner or later, something has to give. When that happens, give a big thank you to the Bushneviks, along with the tax and spend Democrats, for destroying our Republic. Neither love America enough to truly take care that it is able to stay strong. Third world status, here we come, and we have our leaders to thank for it.

Article is here.

As goes GM, so goes the nation....

The sad part is that there are waiting lists for people to buy hybrid cars. The American auto makers have their heads in the sand on this issue.

Remember that GM chose to open a new plant in Canada because it couldn't afford the health care costs here in the US.

Oh well, those GM workers can go work for Walmart now....

 

[Spartacus FPV]

***Origional Post***

Since we have dropped the gold standard we have been financing our debt through credit. I wouldnt be surprised if these pass the buck policies lead China to pass us a notice "Account Overdrawn"

 

[danarhea]

Since we have dropped the gold standard we have been financing our debt through credit. I wouldnt be surprised if these pass the buck policies lead China to pass us a notice "Account Overdrawn"

Exactly, and seeing your avatar, I figured you would get the point, which you did.

 

[oldreliable67]

It used to be gross national product, but that was changed long ago to reflect goods and services

GNP and GDP always have been and are still based on goods and services. The only difference is that GNP includes net income from assets abroad. Wikipedia has a pretty good little example of the computation of both concepts, here.

 

[DeeJayH]

and what ever happened to those poor bastards that made horse buggies and whips for those horse
oh the inhumanity
unions, and lawyers driving up medical costs, are responsible for the downfall of the american automakers
foriegn automakers seem to be doing find, despite building factories here

how about all the industry built up around the pc/internet revolution

should we ensure the country goes down teh shitter just so some overpayed, overcompensated joe at GM can keep his job in a company that is not making it

here is a wild and crazy idea
get retrained for another industry
gee, i dont know, maybe one that is growing instead of dying?
or is simplicity to retarded for too many