Wednesday, June 03, 2009

What happened to main street folk?

I have always used reason to gauge decision making, and when months ago I wrote that Obama’s decision to bail out the big three in the auto industry was a waist of money; I was asked to give him a chance. But reason suggested to me that anyone who would suggest such was not really thinking at all, were not proponents of the free market system, and worse had little if any understanding of math and economics.

I specifically pointed out, and correctly that the automakers' problems are their own doing, a function of bad business decisions, messed up labor agreements and a result of making sub-par, gas guzzling cars that nobody around the world, not even Americans want to purchase. Not to mention, it was only designed to stabilize the industry , like a band-aid on a cut and not solve the problem for it would not stop what the market forces had in store – that one if not all would still fail, need to file bankruptcy and go out of business anyway.

I have never supported the use of U.S taxpayer dollars to reward the mismanagement of any business, instead I felt as if Main Street, the small businesses, those that are responsible for 80 percent or more of job creation should be getting loot if any business deserves such. I don’t by the mantra of Wall Street nor the big auto manufactures cry of being victims. How so I ask, since the Detroit companies, especially General Motors, have way too many brands and dealers to operate efficiently, at least in reference to their current market-share levels.

What gives the President the right or authority to steal my money and give it to supra rich mutha fuckas who operate failing businesses? No wonder the right says that we have corrupt Socialists in power now, who run our government. And these are the same folks who say we should not just pass folks in schools because of their grades, yet say in essence if you are a failure in business, you are rewarded. Like the more you fuck up, the more you can take tax money (rob) the citizens of this country. Jones aint ask me if I wanted the auto industry or Wall Street if they can have my loot. I mean if the car industry couldn’t be effective in their own industry why or how can the government be?

I think we would be better served if Obama gave $100 stacks to every citizen in the USA to pay they bills and get rid of they debt. But me no democrat nor am I as smart as big wigs in the white house or on capital hill – I just think and ask what happened to main street Mr. president, recant, you said we would be first? I just wish I could communicate without conflation and derogation that private interest do not equate, nor are the same as economic interest, especially the economic interest of the American citizen.


RiPPa said...

Keep raging against the machine my man. Hopefully people are over the romanticized notion that is Obama and get down to the business of survival in a world where if your first name ain't "Corporate", and your last name isn't "Interest", you ain't nobody.


Juicy4u said...

Yeah! Whateva he just said! Since we're printing up "monopoly" money (it might as well be, it's not backed by any commodity or precious metal) why didn't just just print some for us too? $100k would've come in real handy....

Curious said...

I have to think that giving money away never really solved anything. Sure if the people received some money they would pay off their debt, but then they go back out and just get even more debt. I also think investing in business by the government is a good idea, just not businesses that are dying and reaching out for life support.

suiteSTL said...

I like your bailout plan better. Can you make that happen so I can get an extra $100 by the end of the week. I'm counting on you!

Anonymous said...

What folk miss with the G.M. bailout is "Opportunity Cost".

Sure the government can keep the G.M. employees employed and they can get G.M. to produce and sell cars. If you send billions and billions of dollars towards G.M. something will come of it.

But at what cost to the taxpayer ? At what cost to the G.M. competitors (Ford and the other Foreign plants in the USA ) - Marxist thinking - for there are way better uses 60 billion in capital in america . Truth be told, Michigan and Ohio are swing states the UAW are large contributors to Obama's campaign.

Jay Midnyte said...

Yea well Obama is digging a BIG hole for the whole country

New post

BuelahMan said...

Trickle down don't work. They know it and laugh all the way to the bank, too.

I have said over and over that the answer would be giving back to us and let us pay off our debts and invest. Bloat from the bottom and this thing would have already settled.

We are dreaming, bro. You and I know that it is now too far gone (in our heart of hearts). They have committed the greatest rip-off in all the world's history... right before our eyes.

And we will be left with the crumbs.

"qu'ils mangent de la brioche"

("Let them eat cake")

And yet so many of the sheople just graze on. Munching away. Oblivious.

Sista GP said...

I really don't get 'rewards for failure'. I see parents do it by bribing kids to make them feel better. I see the education system doing it by passing kids that won't be able to cut it in the next grade. I see the government bailing out failing businesses.

But then I work hard, get praises, and haven't seen a raise in ages.
Seriously wrong.

Carla said...

Greetings RawDawg,

I get your point on many of the things you write. But in terms of your assertion that Main Street was not put first, have you ever considered the fact that at least a band-aid stops the initial bleeding?

What I mean is that I agree that the bail out for the auto industry was merely a band-aid. But that doesn't mean it wasn't helpful to the situation in intangible ways. You have to consider what the implications can be when "Main Street" becomes fearful and panic. There would be pandemonium. If banks are failing and (immediately) the auto industry starts failing, people begin to wonder what's next? The sky will appear to be falling and, again, pandemonium can break out. It's all about perception.

But consider the idea that perhaps Obama knew all along that the auto companies would fail anyway. Perhaps that's why he didn't give them a blank check in the first place. But he did give them something! And in return he gets to appear to be concerned about these businesses and the economy in terms of big businesses that (thru borrowing) help sustain the economy. Yet seeing as they are still failing, they hang themselves. And the people...Main Street...are now more used to the reality that if these businesses fail, the world won't come to an end. It's all perception.

And if that is a possible motive for some actions, then we cannot be so short-sided. One has to consider the longer term implications of the President's actions and consider if, down the line, they are more worthwhile.

Whatever he does, he's gotta get the people to buy into it first!

SLC said...

The executives that made bad decisions and caused industries to come to the brink of ruin, accepted money to help bailout the industries they ruined while these same individuals continue(d) to live a life of luxury. When the bailouts are ineffective we find ourselves in a win lose lose lose situation. The executives win when they resign and accept huge severance packages, Main Street loses since they can no longer borrow from the bailed out institutions who were given money. Employees lose when they are laid off and receive a few months of severance taxed at bonus rates approaching 40%, and then turn around and can't find employment elsewhere. Taxpayers lose because the money they unwillingly invested is flushed down a corporate comode.

BTW, my 9 year old daughter got straight A's and as a reward and incentive she got paid from various family members. My 2 older sons grades sucked and as a reward they got to watch her shop, and they got to spend their Saturdays in the house studying. My four year old son got the opportunity to learn from both scenarios. When will DC learn?

KevinsTeeTee said...

I've never understood the concept of giving money away to companies that need to die. You learn that in economics in that businesses come and go, that's the whole point of competition. If you aren't competitive don't complain when you lose. That's why GM is in the hole they're in, they relied on the whole "pro-american" stance to encourage folk to purchase these vehicles versus actually seeing that other auto manufacturers are paving the way for the future. That's why I give Ford some credit because in the last 5 years they've made the attempt to make a better product.

These aren't the only companies that are complacent in changing their ways. Look at the music and movie industry. A lot of the technology that people use to download stuff for free was well known back then, but once Napster brought the format to the forefront and they saw how much profit they were losing then it became an issue.

And although I agree with Carla's comments for the most part, I still don't see the need to give money to a business that's destined for failure just to give the perception that the sky is falling. I tend to give people a bit more credit (I probably shouldn't but I'm hopeful for humanity) in they're ability to think rationally. The media more than anything is to blame for the fear because without them if a business files for bankruptcy it's like okay next! I for one was hoping Obama would'n't have helped GM and forced them to file for bankruptcy. There are a lot of other business and/or people that could've put those billions of dollars to better use. And we all shouldn't expect to ever see that money be re-paid by GM....

Tha BossMack TopSoil said...

I am starting to agree witcha on ole Obama.

Anonymous said...

Been a minute since I been over here...but yeah, I am with you. The more I think about the money these folks is getting it just pisses me off. Where is the relief for the little man or woman?

At least if some stacks was being passed around to the common folks, maybe some change would happen.

SjP said...

" gave $100 stacks to every citizen in the USA to pay they bills and get rid of they debt." I HEARD THAT!!!!

Anonymous said...

This is just one more reminder that the private sector and competitive market forces, not the federal government, are the best means to meeting our country's rapidly expanding health care needs.

I was looking for a way to try and do something positive about it, and just signed a petition with the U.S. Chamber of Commerce here to help emphasize that. We need to get involved!

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