Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

Read More

Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

Read More

Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

Read More

Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

Read More

World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

Read More

Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

Read More

US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

Read More

FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

Read More

Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

Read More

How Western society is brainwashed and crumbling

How Western society is brainwashed and crumbling

"The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth f

Read More

Will we see double digit interest rates from the 1980s?

Will we see double digit interest rates from the 1980s?

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson Spending is

Read More

Greenspan: credit crunch “by far the greatest financial crisis”

Greenspan: credit crunch by far the greatest financial crisis

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Greenspan just said that the current credit crunch

Read More

Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.
Bookmark and Share
(No Ratings Yet)
Loading ... Loading ...

government motors

It would really be surprising if this bailout does not place atop the list of all time poor public expenditure policies. There are just so many reasons the bail out of automakers should never have been allowed. At its most basic, it is outrageous to take money from taxes paid by those making $ 10/hour and give it to a company like GM.

The survival of GM from this point will do more harm to the economy, environment and social fabric of North America than any minor advantage for its survival.

To think more than half of all business taxes paid in Canada is on the bank accounts of two companies to help them survive and are competing against other companies trying to operate on the free market is totally absurd. It is the Lehman Brothers fear factor allowing this outrage to play fed by management cowardly coward.

GM, Chrysler agree to reconsider dealer closings

By STEPHEN MANNING and KEN THOMAS (AP) – 20 hours ago

WASHINGTON — General Motors Co. and Chrysler will reconsider decisions to close thousands of dealerships as part of a compromise meant to stave off federal legislation that would require them to keep the showrooms open.

The decision by the two automakers, announced Thursday, raises the prospect of new life for some of the more than 3,000 dealerships that were slated to close as part of the broad auto industry restructuring. Dealers have loudly protested the decisions, and some said Thursday that the policy is merely an attempt by the automakers to placate Congress.

Just how many dealers could potentially be allowed to stay open remains unclear. The companies did not provide any estimates. Dealers involved in talks this fall with the automakers said likely only a handful of lots targeted for closure would survive, despite the new policy.

The plans of GM, based in Detroit, and Chrysler Group LLC call for face-to-face reviews with dealerships and binding arbitration for those who challenge closure of their showrooms. Chrysler said its review process would start Thursday while GM said talks with dealers would begin in mid-January.

Chrysler, based in Auburn Hills, Mich., said dealers will be given a chance to open new showrooms if an arbitration panel rules in their favor.

Dealer groups and a key lawmaker questioned the automakers’ latest plans, however, opening the possibility of Congress considering the dealer legislation anyway. The National Automobile Dealers Association said the GM proposal was a “positive step” but did not create “a sufficiently meaningful process that provides for a reasonable opportunity for dealer reinstatement.”

You can read the full story at Associated Press

Related posts:

  1. Hungary is next on the globalist chopping block“According to several reports, a spokesman for the new prime minister of Hungary, a member of the European Union that does not use the euro currency, said that talk of...
  2. U.S. states slashing thousands of jobs; Illinois worse off than California?We`re going to see many states across the country specifically california dealing with rosy predictions and forecasts brought by the govt. They said the economy was going to rise to...
  3. Stimulus jobs overstated by thousands; Government calls it error“In politics, nothing happens by accident. If it happens, you can bet it was planned that way.” –Franklin D. Roosevelt The Republican bailout has done its job. Executives, and other...
  4. Chrysler creates thousand new jobs; Gov’t regulations to blame for depression“When asked whether the hirings are a gamble based on the state of the economy, Marchionne smiled and said: “Don’t be so skeptical. It’s a good day. Enjoy it.” —...
  5. Cash For Clunkers Program Was FailureBy Mira Oberman (AFP) CHICAGO — US auto sales plunged 22.7 percent in September after the end of the popular “Cash for Clunkers” program left cautious consumers with few reasons...
  6. The auto sales recovery that was not“.. J.D. Power predicted the retail selling rate — sales through dealerships, as opposed to the less lucrative fleet business — dropped to 8.9 million light vehicles from 9.2 million...

This entry was posted on Friday, December 4th, 2009 at 3:44 pm and is filed under Deindustrialization. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.


Under the 'fair use' rule of copyright law, an author may make limited use of another author's work without asking permission. Fair use is based on the belief that the public is entitled to freely use portions of copyrighted materials for purposes of commentary and criticism. The fair use privilege is perhaps the most significant limitation on a copyright owner's exclusive rights. "