Archive for the ‘Economy’ Category

The Big three are asking us Taxpayers to bail out workers that make considerably more then the national average. See previous post, maybe Romney has a good idea.

UAW workers earn $75 an hour in wages and benefits–almost triple the earnings of the average private sector worker. Detroit autoworkers have substantially more health, retirement, and paid time off benefits than most Americans. These benefits, and a JOBS bank that pays UAW workers nearly full wages to not work, have been a major force driving the Detroit automakers’ current fiscal woes. Consequently, Congress should not force all Americans to pay for high wages and benefits for UAW workers.



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Mitt Romney,

IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.

Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.

Romney says for American auto makers to be competitive they’ve got to get rid of current labor contracts and also must reduce retiree benefits.  These are adding about $2,000 to every car compared with foreign made automobiles.

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From youtube user mearbhrach

In the early ’60’s during the days of the “former” Soviet Union, Russian Premier Nikita Kruschev pounded his shoe on the podium of the United Nations and shouted to the West, “We will bury you!” Fearing an invasion from the Reds, America proceeded to build the most awesome military machine in history.

Unfortunately, we forgot to guard our political home front from being taken over by socialist – communist – liberal activists who would gain office and destroy American law by process of gradually installing the Communist agenda within our legal system and separate branches of government.

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The voters have spoken and apparently so has the market.  Seeing the biggest 2 day drop in history as well as the biggest post-election drop ever, the Dow-Jones responds the election of Obama by dropping 969 points.  Its almost as if investors don’t understand Obama’s plan to tax his way out of the Recession that will magically restore the economy.

Some may think this may be the perfect time to go buy some stock fairly cheap, but with the promise of an increased Capital Gains taxes, those persons in a position to slow the fall (or turn it around) may decide “it’s not worth the trouble.”


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