You must look at the life cycle of cars in order to know how 'environmentally friendly " or efficient. The rivers in China are running poisoness because of the copper battery manufacturing. The manufacturing alone accounts for 20% of the lifecycle damages of the car.
most popular car: F150 truck!
And what led to outsourcing was the HIGH taxes on companies, regulations, all that bullshit that forces them to go overseas! There is such a thing as a bottom line in business, but gov. don't get it.
Chrysler survived in the 80s bc they had one good model the ninivan (wasn't that a German idea?) in any case that one good car saved them imho and the gov't did take a risk but the economy wasn't as bad either. So it did start a trend in gov't bailouts. Where is Chrysler now?
The prob now is who can afford to buy new cars? and what really good models can GM build that people will want to buy? And how wil GM do in the future?
Peter Schiff is like a quarterbacker putting down one by one.. Smashing.. Even the host is owned by him... This keynsianism shit system is destroy everything these days... Almost all nations is following these insane policies,, when is it going to stop. My Gosh!
I agree with free4voice. I myself drive a 1991 honda civic with 178,000 miles on it and every car savvy person who's gotten behind the wheel tells me "wow that motor runs great!" and nothing major has ever been replaced on it. if America would make cars like that then perhaps we could export them. and Peter schiff is once again correct on everything he said
agree. In a book that i read, the author said that even a man on a street can tell u the car makers are losing the war to the japanese many years ago. i find it amusing that book was written almost 20 years ago.
if they kept failing for 30 years, it's hard not to say that their management is extremely useless. i dunno htw they get the audacity to ask taxpayers for help
This comment has received too many negative votesshow
MSNBC needs to sign Bernero to host a show on either the 7 p.m. or 10 p.m. M-F timeslot. He would blow Dobbs or Cooper on CNN out of the water! He is right on the mark.
These people are very evil may God have mercy on there souls. These same news casters would like the police, firemen military to have no insurance or pensions, after 30 years. Shame on them. May be they should get payed about 10 dollars an hour people would line up a mile long to take there jobs. After all there not that good.
Why are GMC, Chrysler, & Ford bankrupting while Honda and Toyota are doing well? Simply! Their products have more quality than the American craps. This is a result of diligent work and a pragmatic philosophy. Instead of having coffee-chats and focusing on engine noise and horse power, Japan puts diligence and efficiency in their work ethics and quietness and reliability in their philosophy. The result of this is a quality product that everyone can get their money's worth.
I don't want the US automakers to fail, or the UAW workers to suffer. I wish them all the luck in restructuring their enterprises to create profitable businesses.
However, I reject utterly any notion that I should be obligated to pay those parties even one dime. I don't drive any of their cars, I don't have a cushy UAW pension plan, why do they think I'm obligated to pitch in to save their "stay fat and happy fund"? They have no right to rob the taxpayers.
This is really simple. We have all become, irrespective of our personal politics, complicit in a money laundering scheme. Our tax dollars go through the government, through the auto makers and into the hands of the United Auto Workers ( a major contributor to the Democrat Party). It is twisted, brilliant and almost immeasurably crooked, just like the Obama administration.
@6:00 Peter owned that mayor. Typical politician pretends to be a friend of the people in order to pander votes. The people of Lansing Michigan should run him out of office.
You know how fast the economy is going to collapse if everybody does that? You've got to spend spend spend and buy as much useless crap as you can to get the companies hiring you to make the useless crap that you buy. The more you buy the more people can be hired to work and buy and the bigger the landfill. It just makes sense economically.
In addition to these endless pleadings of self-interest, there is a second main factor that spawns new economic fallacies every day. This is the persistent tendency of men to see only the immediate effects of a given policy, or its effects only on a special group, and to neglect to inquire what the long-run effects of that policy will be not only on that special group but on all groups. It is the fallacy of overlooking secondary consequences.
The quote above illustrates exactly with what is wrong with the Lansing mayor's thinking and exactly what is wrong with current politics; looking out for the special interest with no regard to the nation as a whole.
yeah they should be bankrupt,you run a non profiable company you should go under,this is a rubbery of century of American people,it is a shame,and our govrement acting as a vacum cleaner sucking the wealth of American people and given it to corporations
All these idiotic comments about "the Democrats passed this? and "the GOP deregulated that" is not only immaterial it's quite frankly stupid. There is no deregulation, the banking system in this country is socialist if you haven't realized. The market can't even determine its currency and the rate of interest based on real capital savings and there are morons that say this is deregulated; what a joke.
Many gop Senators and people like them will next want our military to take pay cuts and lose there pensions. Next the police, fireman ect... shame shame on them. Soulless Evildoer fools. They are like sheep to the rich, foolish in thought and mind spineless jellyfish,is what they are.
To that cum-bucket dike who called into the show: piggy, are you getting your retirement check from the military? For what? Why should the American people subsidize you and your worthless fat, non-combat ass?
I find it ABSOLUTELY ASTOUNDING, that the media has focused this much on LOANS for the auto manufacturers - when WALL STREET EXECUTIVES got $62.5 BILLION *IN BONUSES* from the UNITED STATES TAXPAYERS.
Are you all blind? Are you all this small-minded?
Please tell me there are those out there noticing this extreme double-standard. Please!
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
No bailouts...Thats right Peter !!!!!There labor unions put them there...But they won't even try to help by giving in...Let them go bankrupt and restructure, maybe than they will learn from their mistakes !
DUDE EVERYBODY PLAYS A FAULT IN THIS MESS. DONT JUST BLAME THE UNIONS. YOU GONNA BLAME UNIONS THEN YOU PLAY FAIR AND BLAME F***KING WALL STREET FOR MAKING CAPITOL HILL LOSE TRUST IN EBERYONE. NOW THEY PROBABLY HAVE TO DISH OUT ANOTHER $50 BILLION BECAUSE SOME JERK-OFF WAS USING INVESTORS' MONEY TO PAY OTHER INVESTORS THEIR PROFITS. sO ITS GUYS LIKE WALL STREET AND THAT SCHMUCK THAT MAKE IT ROUGH FOR ANYONE ELSE NOW TO GET LOANS.
AND?????? YOU CAUGHT AMNESIA??? YOU FORGOT ABOUT THE $700 BILLION LIKE ALL THE OTHER CLOWNS POINTING THE FINGER AT THE AUTOWORKERS? AIG THREW A FREAKING PARTY AT A LUXURY HOTEL COSTING $400 billion THE NEXT DAY THEY GOT THEIR BAILOUT MONEY. Why ISNT CAPITOL SAYING TO AIG "GIVE ME BACK MY MONEY!?" YOU KNOW, WALL ST DIDNT GET BAILED SO THEY CAN GET FUCKED UP STONED IN LUXURY. MONEY SO U CAN PARTY AT THE ST.REGIS. WHEN THE WHITE HOUSE SHOWS EXAMPLE ON BOTH SIDES, THEN NOONE CAN DAMN CAPITOL HILL.
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
We were told the skies were going to fall down it we didnt bail out wall street, wall street got the money but kept it to them selves, yet the sky is still in place, I thing if we have to bail out the big three the money should come out of the $350 billion left, I wonder what Mr free market here thinks about that?
Schiff hits the fan! Tell it like it is. If the auto industry was bailed out it would set a precedence for mismanagement and incompetence in large businesses. Corporations would take bigger risks and simply 'screw everything,' cuz hey if shit happens, the dumb tax payers will just pay for it.
how many times to people have to be told? This is not a bailout, it's a loan! to be paid at 10% interest. Chrysler got a gov loan in the 80's and paid it back in 3 years. We just gave a $70 BIL BAILOUT to the house of cards banks, but we can't give a $15 BIL LOAN to the manufacturing base?
Im talking about the real owners now the wealth BUSINESS INTEREST that own all the major corporations and make all the important decisions. Forget the politicians they are irrellavant, politicians are there to give you the illusion you have freedom of choice, you don't, you have no choice, you have owners they own you.
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
I don't trust republicans about anything. Yes there are corrupt people in both parties, but the republicans hate the working class people of america. Every vote that ever arises that concerns helping the rich get richer the GOP justifies, but they always slam the working class as being overpaid. The majority of GOP senators and Bush did not want the CEO's who were bailed out with taxpayer money to be limited in the compensation they could receive and neither did Paulson. They suck!
Thank God Bush is out. And all the fools that backed him. America needs more Patroits and less traitors. Never again lets pray. Will America be that stupid to vote that type of President and Aministration in again.
"Buying a hybrid is an idiot move anyway. Not cost effective! "
You're an idiot if you think that. You're not looking at the hidden costs. Like the cost of wars to control oil producing regions, which gas guzzlers require.
If more R&D was done and if higher volumes were produced, costs would come down.
The only place hybrids are not cost effective would be to the oil company CEOs.
We don't have a war to control an oil producing region. What are you talking about? Is a 35mpg Cobalt a gas guzzler? Your Prius will save you about $300 a year in gas, compared to a Cobalt. The Prius cost $7000 more, so you make up the difference in a little over 20 years, except you will need new batteries after 10 years.
There is real "terror" in Pakistan, it's the terror capital of the world,(none in Iraq), we don't attack Pak, they have no oil.
"Cobalt a gas guzzler? Your Prius"
Has better resale. Why can't Detroit do the 45mpg of the Prius? It's like Sportbikes, people buy the bike that goes .001 second faster. It's also an image problem from years ago.
Detroit has blinders, their management style is from the 50's. Top down, no input from below.
The (illegally held) secret energy task force meetings that Cheney held with all the oil majors. The meeting was about Iraq oil field maps and who was going to get what.
Afghan was partly about a pipeline to transport oil/gas across Afghan, the shortest route from the fields in the Caspian basin to deep water ports. Taliban didn't want pipeline.
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
The vast majority of Americans don't want this automotive bail-out!
In truth it's really the "Union Bail-Out"
notice it's the business hating Democrats pushing for this, not evil Republicans?
For decades the unions have given over 90% of they're political contributions to the Democrat party, these politicians will help out the overpaid United Auto Workers(UAW) by getting loans from China then pushing them onto us and our children!
You must be a repug, they are either idiots or millionaires. Guessing you're not a millionaire so you must be an idiot.
The Unions are the ONLY power the working class has. Give up your Unions, give up your power.
Union membership and pay is in decline, the $75 per hr is a lie and exaggeration. Unions represent a living wage. That means the mom can stay at home and raise the kids instead of the TV doing so.
Youre a Moron thinking the unions help anyone but themselves, the poor & middle class are screwed by the unions every time they purchase over priced items,
in nature you would be a leach!!!
Correct its not $75 an hour for a UAW worker its $73 including benefits,
All for a job worth $20-$30 an hour,
American automakers pay up to $1,500.00 dollars per car just to cover gratuitous benefits for the retired Employees,
" its $73...,$1,500.00 dollars per car...benefits for the retired""
the big 3 have been around longer, they have 1,000's of retired, the Japs in US have none. So because of theft and poor investment of pensions and overpriced health care the retired should have to retroactively give up what they agreed on years ago?
labor is 10% of cost of car. The amount UAW gets more than non Union is 1.5% more of total cost. What about the, 4x adverts, 7 layers of management, and 400x avg pay CEO?
United Airlines went BK, they all basically lost retirement benefits they had agreed upon. UAW "Big Three" have almost 500K retired to support, with more on the way. The 14B is just a start-they will certainly need more as 09 progresses. A great many of the people that buy American made can't get the financing-I'm forced to work overseas in 09, pays more, almost no taxes-but no Taco Bell, no one speaks the imperial language and everything you order is some green seaweed looking crap.
So you are a American worker HATER. Move to China you P.O.S. AS*HOLE.
Labor cost is only 10% of the total cost of a car.
How's that $700 BIL bank bailout for your "free market business" working out? Note all the bank worker layoffs. All the money is going straight to the CEO's AFTER they drove their banks into the crapper.
Thank the repugs who love "business" and hate the workers.
Move to China you PIECE OF *HIT, you won't have to worry about being overpaid.
The Japanese build better cars here in America than GM, Ford or Chrysler ever could!
All without any UAW workers,
I dont hate American workers, but I dislike greed, be it CEO's or Union extortionist
The majority of the 700 Billion dollars was to cover losses from bad loans given to poor unqualified borrowers, many who aren't even American citizens,
For years, Republicans warned the union backed Democrat leadership that they're home start plan was flawed, YES I can show proof
Americas biggest economic problem was the insolvency of Fannie May & Freddie Mack
Democrat politicians pressured them into making risky loans, mostly for low wage minorities that didn't qualify, they even changed laws making it possible,
Normally Republicans are calling for deregulation, this time however it was the Democrats, they ignored ALL THE WARNINGS
"Americas biggest economic problem was the insolvency of Fannie May & Freddie Mack"
Apparently you're a little slow so I'll repeat myself.
The financial meltdown is intentional. Freddy and Fanny are just the symptoms. The problem is deregulation.
That deregulation was done by the repugs when they controlled the house and senate. When bush and some repugs were supposedly calling for RE-regulation the repugs still controlled both houses and committees. How come they didn't do anything?
I've seen these vids before, I looked at them again. The only "News" source I see is Faux News, a far right bias.
All the times they claim the repugs are calling for regulation are when the repugs control all 3 branches. How come they didn't do anything? And it's not really "regulation" it's "RE-regulation, because the repugs are the ones that DE-regulated led by Phil Gramm(R) when they held the house and senate.
Then why is it that it always worked fine under Clinton and yet now after 8 fucking years of Bush fascism it turns to shit ? No, I'm not buying your typical, "BLAME THE DEM'S" argument. No, I think the level of Reagan DEREGULATION escalated under BubbleBoy Bush until it imploded. And all the powers that be, KNEW this was coming a LOOOONG time ago and hoped they'd simply make it through this 2nd term, at least Schiff proficised this years ago, and the talking headed literally laughed at him.
Do you understand the diff between design and assembly? AFAIK the UAW is not involved with design, they just bolt them together.
The big 3's main problems are with design, not assembly.
Honda re-badged an Isuzu, called it the "Passport", it has a GM auto trans. Never replaced one of them in 15 years with Honda. But the Honda V-6 Auto trans a full 10% don't go past 50K mi. But you never hear about it because Honda fixes them for free.
"Years ago unions stood for fairness and were respected, but now its just greed, socialism, far left politics and corruption"
all general statements, can't get specific
Seriously Uzijohn, you can't answer this question. How well would you have been able to "negotiate my own fair wage" in any country that has no Unions at all?
And if you are so anti Union why don't you move your as* to one of those countries?
That's interesting, since every GM & Chrysler car I've known has lasted until a new car was purchased. And I'm talking about hundreds of thousands of miles.
In addition, Japan has tariffs on car imports. How about America? Japanese companies provide no benefits. Is that the world you'd like to live in? Where most people simply cannot have health insurance because they can't afford it? Do you want to go there? I assure you, it won't end pleasantly for you capitalists out there.
The reason people can't afford health insurance is because the government monopoly comprises a substantial market share of it. There's so little competition that the incentive to lower prices is virtually non-existent. If somebody is not receiving health benefits from a job nobody is forcing them to work there, they can find a better employer. Perhaps their wages will increase as the health benefit money wouldn't be taken out and they could make their own choices.
If we continue listening to the clowns that are telling us to just print money and keep stealing from the people and not allow the market to function; yes, we're finished. There is just simply no way we can continue this absurd Keynesian nonsense and have anything positive come about from it. We need this depression to come to wipe out everything that needs to be liquidated.
Peter is correct.The old horse and buggy whip economics. If you don't change and make a better product,someone will and you are out of business. Well, here you are Detroit.I for one am tired of buying cars that breakdown often. As for the fat,greedy,non caring CEOs they need to be canned.They have led the co. to this point.I hate it for the workers. The farther we get from religion(ethics) the farther the country goes down the tube. Look at other failed civilations. We are getting close.
The Saudis have temporarily lowered prices to keep us addicted to oil, making greener cars less of a priority during this transitional period. The Saudis may have only about 40 years of oil left, so they are going to get every penny possible from before the end of addiction. Buy and own these companies for what they are actually worth and make them ALL go green, spend the rest on hydrogen fuel cell research and build an affordable car the whole world will demand, taking back the industry.
American cars are garbage. Why bailout pieces of crap? Let them go bankrupt and bye-bye. They will not be missed. Sure millions of people will lose their jobs. That is part of the cycle!!!!
I doubt the bailout bill will pass-once again, they tried to slip other agenda into a bill "A raise for federal judges". Has nothing to due with the auto industry.
If GM falls-it can never be replaced. We have no other choice-The big 3 must be saved.
Not that bad. Besides, in 2050, we will all be using flying backpacks (much more cost effective than flying cars) if only Obama does right his plan to start a high tech energy economy in the US.
Nothing is forever, you know?
Not even democracy. So, people have to keep their eyes opened.
who would think a bunch of rich cocksuckers wanting billions of government money, get real
i am especially pissed at the car companies because of the shitty product they make
its funny when she says a saturn is the number 5 hybrid
WHO THE HELL DRIVES A SATURN????? i can imagine right now after 20,000 miles the piece of shit has its left tires fall off while going into the paint shop because the engine blew up and fucked up the finger paint they call a paint job
The Auto Industry spends 50 million dollars each year on lobbyists for Washington. They donated 15 million dollars to campaigns this year.
So, how do we really think this is all going to turn out?
Eventually, this will get done, irregardless of what's best for the country. The fact is the congressman don't know what's best for the country with regards to the auto industry. They merely latch on to a point without understanding the big picture and pretend to be experts on the situation.
It don't make sense to bailout corporations that move production abroad. They themselves rendered the very consumers of their goods to low wage, service and retail employees. They traded the (pay an American wage, charge an American price) circle, for a linear (pay a Mexican wage, charge an American price). The loophole works awesome untill America's all workin at Walmart and can no longer afford the goods produced. This one sided strategy would sure end a monopoly game quick.
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
Americans We all must start supporting USA products home made and grown. Safe fair made products,made in USA. Support original American name plate products. Go on line look for USA products there are many clothes tools ect... Lets put Americans back to work.
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
Peopkle should be turned down if they have bad credit. We are starting to see reason! Thats why we are in this mess in mortgages. The auto executives are partly to blame but the unions and environmentalists are more to blame. Detroit avg wage with benefits $78 an hour,Honda Toyota and Nissan $35. Unions and EPA have forced huge costs on Auto companies here, driving manufacturing out of our country. Democrats, not letting us drill here costs more. Supporting foreign dictators.
It's funny as production costs were halved with cheap labor, no epa regulations, no retirement, no unemployment, no comp insurance costs, etc., the price of a new car actually increased to the consumer now working for 8-10$ an hour. The fat American wage was the consumer. It was the middle class.
AMERICANS you did a fine job telling how important it is to buy American products from food to autos from USA companys who make and have higher standards fairer wages for USA workers and must comply with laws of our nation and be held responsible when they dont. Unlike many other nations selling goods in our country. Its time for all of our states to support one another. And not be traitors to some foriegn country lining their pockets and to cause people in the USA to live worst off with less
It's funny, the closer someone gets to the truth the angrier the opponent gets. Peters 100% correct. There are no logical arguments on the other side. The other dude claims the companies are worthy of investment, if so they wouldn't be asking for government money.
also the engineers that are told things like well there are plenty of jobs in France or Shanghai after their parents lost everything to come here. Or the engineers that fought in Vietnam so that they could afford college.
first of all, i've never heard of an engineer that went to school for 16 years. second and more importantly, capitalism does work. regardless of what makes an industry fail, in pure capitalism, when a company fails, new ones take their place. btw, of course the execs are greedy, just about everyone is in some way, i'd call it human nature. anyway their greed is not your problem if you're not in their company, and if they fail from it, then a less greedy company will evolve- in true capitalism.
okay, since you're part of the US auto industry, then you have a right to be upset about their greed, but i don't, nor do most people. and i reassert that capitalism DOES work. also, i've never heard of anyone going to school for a steady 16 years, but i looked it up and i guess some people do, but it seems pretty rare. my previous idea that it takes just a few years after a masters degree seems more common. but, without sarcasm, hats off to your studious engineer friends
also michigan government is fucked up. ie kwame, young, jennifer granholm.
why are they supporting us?
they should take it up with the engineers, and the men who have to wait everyday not knowing whether or not the 16 years they went to college was worth shit or not. paying 40 percent in taxes. having to take out 2nd mortgages that they can't afford on their houses. Depending on their pensions for those four or five years they might have for retirement before they drop dead.
you don't have to tell michigan that the CEO's shouldn't be flying around in private jets the 533,000 without jobs or income as of november will tell you that.
not to mention the fact that the millions of people left unemployed by the auto bailout will be on welfare.you're so right, we should let Detroit go bankrupt, see what happens,and then hope that they restructure Green.when they dont, and America is paying other countries like communist China to build our cars, then we might have a problem.
Foreign policy needs to change and trade laws need to change.The Big Three has been generous to America, at a very serious cost.
When I moved back to the US from the UK, I could NOT find a good diesel car. Everything diesel was MONSTER BIG. Also, diesel was more expensive when it is easier to refine! We had a FORD diesel car in the UK. These companies have been taking their profits to build factories in other countries (and NOW they want a bailout? NO! Time for them to file bankruptcy like the airlines and get their act together. They shouldn't have listened to oil and they should have built fuel efficient cars!
Chrysler has a rep for building cars that FALL APART at 50K miles! Let 'em bite dust!
Moreover, if GW & Co. hadn't conjured up a tidy "dollar for dollar" TAX BREAK for any small "company" that bought an SUV (back about 5 years ago), the mfrs would not be sitting on top of lots full of these wasteful monsters that now, no one dares to buy.
IMO, just another example of Gov't cronies throwing a monkey wrench into the free market.
Saturn doesn't make hybrid autos anymore because GM has dropped the Saturn line.
TheWildbill242 1 month ago
This has been flagged as spam show
RON PAUL 2012.
matteo132000 3 months ago
haha. how about a list of the top 5 cars in general? any hybrids there? no?
SuperNache 3 months ago
"Where does it end?!"
*silence*
LOL
rainstormseattle 3 months ago
If the government wants to bail out, why doesn't it bail out the homeless people living under the bridge instead of multi-trillionaire fat pigs.
rayjomand 4 months ago
@rayjomand Because the multi-trillionaires pay for their campaigns and guarantee the elections each term.
firestrings272 3 months ago
You must look at the life cycle of cars in order to know how 'environmentally friendly " or efficient. The rivers in China are running poisoness because of the copper battery manufacturing. The manufacturing alone accounts for 20% of the lifecycle damages of the car.
most popular car: F150 truck!
And what led to outsourcing was the HIGH taxes on companies, regulations, all that bullshit that forces them to go overseas! There is such a thing as a bottom line in business, but gov. don't get it.
tigerhop 7 months ago
He just sounds like an advertisement to washington on why they need the money. Sounds like a freaking infomercial
AroundSun 9 months ago
LOL as the Blitz says,,Schiff just rapes with reason.Get owned peasants and beggars.
STOP SPENDING
JohnnyMac2237 10 months ago
5:22 studddering! lol
STREETRACEN4U 1 year ago
lol peter schiff rapes
TheBlitz1 1 year ago
Peter Schiff is right.
Chrysler survived in the 80s bc they had one good model the ninivan (wasn't that a German idea?) in any case that one good car saved them imho and the gov't did take a risk but the economy wasn't as bad either. So it did start a trend in gov't bailouts. Where is Chrysler now?
The prob now is who can afford to buy new cars? and what really good models can GM build that people will want to buy? And how wil GM do in the future?
tmmy777 1 year ago
poor Peter, he can't even keep a straight face anymore when dealing with these people.
tonyg0123 1 year ago
Peter Schiff is like a quarterbacker putting down one by one.. Smashing.. Even the host is owned by him... This keynsianism shit system is destroy everything these days... Almost all nations is following these insane policies,, when is it going to stop. My Gosh!
bjarnet3 1 year ago 3
that guy looks high.
sniped101 1 year ago
Great point!
If you think these too big to fail, failures are such great investments, put your own money into it.
FreelancePatriot76 1 year ago
@FreelancePatriot76 if the company is too big to fail, it shouldn't exist!
sniped101 1 year ago
That mayor dude looks like he's high
fasteddie847 1 year ago 3
lmao
Chslosers 1 year ago
awesome debate, and it was civilized unlike foxnews shout-offs
jpmahone 1 year ago
No wonder that everyone has left the Detroit area. Run by mentally retarded mayors
BikiniBabe1985 1 year ago
@BikiniBabe1985 He is the Mayor of Lansing not Detroit. Detroit is run by criminal mayors.
rhaskill08 1 year ago
@rhaskill08 The line between criminal and retard is very thin when talking about politicians.
BikiniBabe1985 1 year ago 4
That woman has the most annoying cadence ever.
CountArtha 1 year ago
she seems cool
bushbarnes 1 year ago
that bitch talks too much
accountstube 1 year ago
Peter = antidote = logic = apocalypse...!
zUkUnFtsBeAt 2 years ago
How is that guy mayor? He got owned.
Martial024 2 years ago 4
easy to be detroit mayor.. squeak out talking points
Chslosers 2 years ago 4
I agree with free4voice. I myself drive a 1991 honda civic with 178,000 miles on it and every car savvy person who's gotten behind the wheel tells me "wow that motor runs great!" and nothing major has ever been replaced on it. if America would make cars like that then perhaps we could export them. and Peter schiff is once again correct on everything he said
mandaloin 2 years ago 3
agree. In a book that i read, the author said that even a man on a street can tell u the car makers are losing the war to the japanese many years ago. i find it amusing that book was written almost 20 years ago.
if they kept failing for 30 years, it's hard not to say that their management is extremely useless. i dunno htw they get the audacity to ask taxpayers for help
doctorwilly 2 years ago
that woman needs a good haircut - she looks (and sounds) like a poodle
macspectrum 2 years ago
I never knew poodles could talk :?
Martial024 2 years ago
they don't talk, they "yap"
macspectrum 2 years ago
This comment has received too many negative votes show
MSNBC needs to sign Bernero to host a show on either the 7 p.m. or 10 p.m. M-F timeslot. He would blow Dobbs or Cooper on CNN out of the water! He is right on the mark.
vrj40 2 years ago
Knowledge is Power! That's what Peter is showing here! He is so Knowledgeable and Powerful!
yousef1426 2 years ago 2
The mayor needs to wikipedia the word market bubble.
fomastephanovitch 2 years ago 17
This comment has received too many negative votes show
schiff needs to look up the word bias.
AEVautomatic 2 years ago
what bias?
Chikusoo 2 years ago 12
These people are very evil may God have mercy on there souls. These same news casters would like the police, firemen military to have no insurance or pensions, after 30 years. Shame on them. May be they should get payed about 10 dollars an hour people would line up a mile long to take there jobs. After all there not that good.
bestwayusa1 2 years ago
Why are GMC, Chrysler, & Ford bankrupting while Honda and Toyota are doing well? Simply! Their products have more quality than the American craps. This is a result of diligent work and a pragmatic philosophy. Instead of having coffee-chats and focusing on engine noise and horse power, Japan puts diligence and efficiency in their work ethics and quietness and reliability in their philosophy. The result of this is a quality product that everyone can get their money's worth.
Free4Voice 2 years ago 4
Peter Schiff was right, we should nuke mexico.
loopba 2 years ago
we should save the money and let the cartels rip the country's heart out
worldfest 2 years ago
The UAW is on the brink of collapse.
spernoadversa 2 years ago
I don't want the US automakers to fail, or the UAW workers to suffer. I wish them all the luck in restructuring their enterprises to create profitable businesses.
However, I reject utterly any notion that I should be obligated to pay those parties even one dime. I don't drive any of their cars, I don't have a cushy UAW pension plan, why do they think I'm obligated to pitch in to save their "stay fat and happy fund"? They have no right to rob the taxpayers.
SeanEdwardsCA 2 years ago 2
The mayor has the face and attitude of a low IQ mafia thug.
myndenway 2 years ago 7
Hey don't knock low IQ thugs. Women love that sort of stuff.
watch?v=m4tBHM-A2fw
It's literally jungle love!
Chimps over wimps buddy! LOL!
joesub007 2 years ago
American cars are the best fuck the rest
nokia3591 2 years ago
This is really simple. We have all become, irrespective of our personal politics, complicit in a money laundering scheme. Our tax dollars go through the government, through the auto makers and into the hands of the United Auto Workers ( a major contributor to the Democrat Party). It is twisted, brilliant and almost immeasurably crooked, just like the Obama administration.
MisterRightWing 2 years ago 2
That bitch talks funny...
Amunication 2 years ago
Hahaha "if you think these companies are so profitable then why don't you put your own money into them" OOH SNAP!!
doognadoshi 3 years ago
she reminds me of chris rock
amirgiles 3 years ago
@amirgiles lol
flibberswooper0 1 year ago
@6:00 Peter owned that mayor. Typical politician pretends to be a friend of the people in order to pander votes. The people of Lansing Michigan should run him out of office.
thomaserossi 3 years ago
Excellent, continue uploading all this truth!
jdantzie 3 years ago 2
The truth is out there.
reYKCuf 3 years ago 2
If Schiff was President, this would have never happened. He predicted all this so far back. Dead right on everything.
CoolDojo9000 3 years ago 4
The US is aksing Saudi Arabia, UAE, Kuwait and Qatar for $300 billion to fund the auto bailout.
neothomist1275 3 years ago 3
We are a nation of idiots ruled by liars and thieves.
alisoakita 3 years ago 7
I am an intelligent American. Speak for yourself.
crazydavidsmith 2 years ago
this mayor guy is fucking retarded. omg
houliebeforethefall 3 years ago 3
They need to do something about how much they're paying retirees for pensions and healthcare.
bamatommy 3 years ago
schiffs right hes a old style american with some sense , drive a old car work your arse off and be thrifty.
pity schiff wasnt president
bearsagainstevil 3 years ago 2
You know how fast the economy is going to collapse if everybody does that? You've got to spend spend spend and buy as much useless crap as you can to get the companies hiring you to make the useless crap that you buy. The more you buy the more people can be hired to work and buy and the bigger the landfill. It just makes sense economically.
joesub007 2 years ago
ANY GUYS UP?
someone smart please help me Ho
02aqimeh 3 years ago
In addition to these endless pleadings of self-interest, there is a second main factor that spawns new economic fallacies every day. This is the persistent tendency of men to see only the immediate effects of a given policy, or its effects only on a special group, and to neglect to inquire what the long-run effects of that policy will be not only on that special group but on all groups. It is the fallacy of overlooking secondary consequences.
- Henry Hazlett: Economics In One Lesson
dchoker000 3 years ago 2
The quote above illustrates exactly with what is wrong with the Lansing mayor's thinking and exactly what is wrong with current politics; looking out for the special interest with no regard to the nation as a whole.
dchoker000 3 years ago 5
yeah they should be bankrupt,you run a non profiable company you should go under,this is a rubbery of century of American people,it is a shame,and our govrement acting as a vacum cleaner sucking the wealth of American people and given it to corporations
mtakman 3 years ago
All these idiotic comments about "the Democrats passed this? and "the GOP deregulated that" is not only immaterial it's quite frankly stupid. There is no deregulation, the banking system in this country is socialist if you haven't realized. The market can't even determine its currency and the rate of interest based on real capital savings and there are morons that say this is deregulated; what a joke.
readthepaper 3 years ago
And this is why the economic issue's should be debated by economists and not politicians.
coltsfancolts 3 years ago
Peter is so right on here!
adventuregoddess 3 years ago
Many gop Senators and people like them will next want our military to take pay cuts and lose there pensions. Next the police, fireman ect... shame shame on them. Soulless Evildoer fools. They are like sheep to the rich, foolish in thought and mind spineless jellyfish,is what they are.
bestwayusa1 3 years ago
The government doesn't have any money!!!! But they just signed over trillions - no strings attached - to Wall Street.
And yet, the talk is of the auto manufacturers. Americans: if you can't see the hypocrisy in this, you are swine who deserve the worst
isubscriberesistance 3 years ago
And this is why the American people will most assuredly be enslaved. Small-minded buffoons!
isubscriberesistance 3 years ago
To that cum-bucket dike who called into the show: piggy, are you getting your retirement check from the military? For what? Why should the American people subsidize you and your worthless fat, non-combat ass?
isubscriberesistance 3 years ago
I find it ABSOLUTELY ASTOUNDING, that the media has focused this much on LOANS for the auto manufacturers - when WALL STREET EXECUTIVES got $62.5 BILLION *IN BONUSES* from the UNITED STATES TAXPAYERS.
Are you all blind? Are you all this small-minded?
Please tell me there are those out there noticing this extreme double-standard. Please!
isubscriberesistance 3 years ago
Tell em Schiff !
muserwood 3 years ago
Today's problem: movement towards globalism.
Solution: get rid of central banks and install gold and silver as legal tender.
Tasadaru 3 years ago
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
bestwayusa1 3 years ago
Peter Schiff is like a Ron Paul in the Private Industry! Gotta love this guy for speaking up..
niceguy7583 3 years ago
No bailouts...Thats right Peter !!!!!There labor unions put them there...But they won't even try to help by giving in...Let them go bankrupt and restructure, maybe than they will learn from their mistakes !
Uwiluz60 3 years ago
DUDE EVERYBODY PLAYS A FAULT IN THIS MESS. DONT JUST BLAME THE UNIONS. YOU GONNA BLAME UNIONS THEN YOU PLAY FAIR AND BLAME F***KING WALL STREET FOR MAKING CAPITOL HILL LOSE TRUST IN EBERYONE. NOW THEY PROBABLY HAVE TO DISH OUT ANOTHER $50 BILLION BECAUSE SOME JERK-OFF WAS USING INVESTORS' MONEY TO PAY OTHER INVESTORS THEIR PROFITS. sO ITS GUYS LIKE WALL STREET AND THAT SCHMUCK THAT MAKE IT ROUGH FOR ANYONE ELSE NOW TO GET LOANS.
sm00th116 3 years ago
Im happy there is No Bail Out for you big guys. You got yourself into this mess then you get yourself out of this mess...period!
Florecentcolor 3 years ago
AND?????? YOU CAUGHT AMNESIA??? YOU FORGOT ABOUT THE $700 BILLION LIKE ALL THE OTHER CLOWNS POINTING THE FINGER AT THE AUTOWORKERS? AIG THREW A FREAKING PARTY AT A LUXURY HOTEL COSTING $400 billion THE NEXT DAY THEY GOT THEIR BAILOUT MONEY. Why ISNT CAPITOL SAYING TO AIG "GIVE ME BACK MY MONEY!?" YOU KNOW, WALL ST DIDNT GET BAILED SO THEY CAN GET FUCKED UP STONED IN LUXURY. MONEY SO U CAN PARTY AT THE ST.REGIS. WHEN THE WHITE HOUSE SHOWS EXAMPLE ON BOTH SIDES, THEN NOONE CAN DAMN CAPITOL HILL.
sm00th116 3 years ago
Next thing they will want our military to take pay cuts and lose there pensions. Next the police, fireman ect... shame shame on them.
bestwayusa1 3 years ago
This has been flagged as spam show
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
bestwayusa1 3 years ago
Bailout sound good to me.
TheBibleIsImmoral 3 years ago
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
bestwayusa1 3 years ago
We were told the skies were going to fall down it we didnt bail out wall street, wall street got the money but kept it to them selves, yet the sky is still in place, I thing if we have to bail out the big three the money should come out of the $350 billion left, I wonder what Mr free market here thinks about that?
jaif4 3 years ago
Wow. Peter Schiff has some very powerful arguments for not bailing out the auto industry. Look at Chysler, back begging for money AGAIN!
prop1heroes 3 years ago
Schiff hits the fan! Tell it like it is. If the auto industry was bailed out it would set a precedence for mismanagement and incompetence in large businesses. Corporations would take bigger risks and simply 'screw everything,' cuz hey if shit happens, the dumb tax payers will just pay for it.
infydele 3 years ago
"If the auto industry was bailed out"
how many times to people have to be told? This is not a bailout, it's a loan! to be paid at 10% interest. Chrysler got a gov loan in the 80's and paid it back in 3 years. We just gave a $70 BIL BAILOUT to the house of cards banks, but we can't give a $15 BIL LOAN to the manufacturing base?
gt40f 3 years ago
scuze me, that's "$700 BIL BAILOUT"
gt40f 3 years ago
"We just gave a $70 BIL BAILOUT to the house of cards banks, but we can't give a $15 BIL LOAN to the manufacturing base? "
Yes
takadi 3 years ago 2
Im talking about the real owners now the wealth BUSINESS INTEREST that own all the major corporations and make all the important decisions. Forget the politicians they are irrellavant, politicians are there to give you the illusion you have freedom of choice, you don't, you have no choice, you have owners they own you.
-George Carlin
btownmxer 3 years ago
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
bestwayusa1 3 years ago
everything in stores in made in china or somewhere else.....
chris13104 3 years ago
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
bestwayusa1 3 years ago
donnie4607 3 years ago
Shiff's final comment. "we need to make cars and export them"
Well first you'll have to fix the imbalanced tariffs. Like where China charges 20% across the board and the US charges ZERO.
Second we do need to revamp the CEO system where greed pigs at the top reap short term profits at the expense of long term investment.
gt40f 3 years ago
Thank God Bush is out. And all the fools that backed him. America needs more Patroits and less traitors. Never again lets pray. Will America be that stupid to vote that type of President and Aministration in again.
bestwayusa1 3 years ago
Buying a hybrid is an idiot move anyway. Not cost effective!
giovanhagar 3 years ago
"Buying a hybrid is an idiot move anyway. Not cost effective! "
You're an idiot if you think that. You're not looking at the hidden costs. Like the cost of wars to control oil producing regions, which gas guzzlers require.
If more R&D was done and if higher volumes were produced, costs would come down.
The only place hybrids are not cost effective would be to the oil company CEOs.
gt40f 3 years ago
We don't have a war to control an oil producing region. What are you talking about? Is a 35mpg Cobalt a gas guzzler? Your Prius will save you about $300 a year in gas, compared to a Cobalt. The Prius cost $7000 more, so you make up the difference in a little over 20 years, except you will need new batteries after 10 years.
giovanhagar 3 years ago
"We don't have a war to control...oil"
ROTFLMAO!!!!!
There is real "terror" in Pakistan, it's the terror capital of the world,(none in Iraq), we don't attack Pak, they have no oil.
"Cobalt a gas guzzler? Your Prius"
Has better resale. Why can't Detroit do the 45mpg of the Prius? It's like Sportbikes, people buy the bike that goes .001 second faster. It's also an image problem from years ago.
Detroit has blinders, their management style is from the 50's. Top down, no input from below.
gt40f 3 years ago
"We don't have a war to control...oil"
the main reason for these wars
The (illegally held) secret energy task force meetings that Cheney held with all the oil majors. The meeting was about Iraq oil field maps and who was going to get what.
Afghan was partly about a pipeline to transport oil/gas across Afghan, the shortest route from the fields in the Caspian basin to deep water ports. Taliban didn't want pipeline.
gt40f 3 years ago
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
bestwayusa1 3 years ago
We are watching you big three closely now.You are now answerable to us the taxpayer.Its our money remember that.
RebelsLiberator 3 years ago
RICE READY EH?The Japanese have been kicking your ass for years because you make garbage vehicules and gas guzzlers.Retool or go under.
RebelsLiberator 3 years ago
The vast majority of Americans don't want this automotive bail-out!
In truth it's really the "Union Bail-Out"
notice it's the business hating Democrats pushing for this, not evil Republicans?
For decades the unions have given over 90% of they're political contributions to the Democrat party, these politicians will help out the overpaid United Auto Workers(UAW) by getting loans from China then pushing them onto us and our children!
uzijohn 3 years ago
You are an idiot. PERIOD.
You must be a repug, they are either idiots or millionaires. Guessing you're not a millionaire so you must be an idiot.
The Unions are the ONLY power the working class has. Give up your Unions, give up your power.
Union membership and pay is in decline, the $75 per hr is a lie and exaggeration. Unions represent a living wage. That means the mom can stay at home and raise the kids instead of the TV doing so.
If you don't want Unions, please move to China.
gt40f 3 years ago
gt40f,
Youre a Moron thinking the unions help anyone but themselves, the poor & middle class are screwed by the unions every time they purchase over priced items,
in nature you would be a leach!!!
Correct its not $75 an hour for a UAW worker its $73 including benefits,
All for a job worth $20-$30 an hour,
American automakers pay up to $1,500.00 dollars per car just to cover gratuitous benefits for the retired Employees,
Its called extortion!!!
I say Live better, Break the Union
uzijohn 3 years ago
" its $73...,$1,500.00 dollars per car...benefits for the retired""
the big 3 have been around longer, they have 1,000's of retired, the Japs in US have none. So because of theft and poor investment of pensions and overpriced health care the retired should have to retroactively give up what they agreed on years ago?
labor is 10% of cost of car. The amount UAW gets more than non Union is 1.5% more of total cost. What about the, 4x adverts, 7 layers of management, and 400x avg pay CEO?
gt40f 3 years ago
United Airlines went BK, they all basically lost retirement benefits they had agreed upon. UAW "Big Three" have almost 500K retired to support, with more on the way. The 14B is just a start-they will certainly need more as 09 progresses. A great many of the people that buy American made can't get the financing-I'm forced to work overseas in 09, pays more, almost no taxes-but no Taco Bell, no one speaks the imperial language and everything you order is some green seaweed looking crap.
littlegoodie2shoes 3 years ago
You are both right on many points. The bottom line is an entirely new business model for future companies.
mvandenberge 3 years ago 2
"business hating Democrats"
So you are a American worker HATER. Move to China you P.O.S. AS*HOLE.
Labor cost is only 10% of the total cost of a car.
How's that $700 BIL bank bailout for your "free market business" working out? Note all the bank worker layoffs. All the money is going straight to the CEO's AFTER they drove their banks into the crapper.
Thank the repugs who love "business" and hate the workers.
Move to China you PIECE OF *HIT, you won't have to worry about being overpaid.
gt40f 3 years ago
gt40f,
The Japanese build better cars here in America than GM, Ford or Chrysler ever could!
All without any UAW workers,
I dont hate American workers, but I dislike greed, be it CEO's or Union extortionist
The majority of the 700 Billion dollars was to cover losses from bad loans given to poor unqualified borrowers, many who aren't even American citizens,
For years, Republicans warned the union backed Democrat leadership that they're home start plan was flawed, YES I can show proof
uzijohn 3 years ago
"the 700 Bil..was to cover losses from bad loans"
you can't know that, they haven't disclosed where the money went.
You sell a home, collect fees, then you repossess, and re-sell the home, that's not a loss, someone took the money.
bad loans are just the symptom, the cause is deregulation under a GOP congress. It's 50 to 1 derivatives without rules.
"" repubs warned the union backed Dem leadership that they're home start plan was flawed"
The dereg was by repugs under a repug led congress.
gt40f 3 years ago
gt40f,
Americas biggest economic problem was the insolvency of Fannie May & Freddie Mack
Democrat politicians pressured them into making risky loans, mostly for low wage minorities that didn't qualify, they even changed laws making it possible,
Normally Republicans are calling for deregulation, this time however it was the Democrats, they ignored ALL THE WARNINGS
Search Youtube
"Democrats warned of financial crisis"
Watch & listen for yourself!
uzijohn 3 years ago
"Americas biggest economic problem was the insolvency of Fannie May & Freddie Mack"
Apparently you're a little slow so I'll repeat myself.
The financial meltdown is intentional. Freddy and Fanny are just the symptoms. The problem is deregulation.
That deregulation was done by the repugs when they controlled the house and senate. When bush and some repugs were supposedly calling for RE-regulation the repugs still controlled both houses and committees. How come they didn't do anything?
gt40f 3 years ago
"Search Youtube"
"Democrats warned of financial crisis"
I've seen these vids before, I looked at them again. The only "News" source I see is Faux News, a far right bias.
All the times they claim the repugs are calling for regulation are when the repugs control all 3 branches. How come they didn't do anything? And it's not really "regulation" it's "RE-regulation, because the repugs are the ones that DE-regulated led by Phil Gramm(R) when they held the house and senate.
gt40f 3 years ago
gt40f,
"I've seen these vids....
(Democrats warned of financial crisis)
The only News source I see is Faux News"...
The videos are from several sources, but much of the actual film footage came from C-Span
BUT it wouldn't matter, you can WATCH ON FILM Democrat leaders being warned by Republicans including Senator McCain and financial regulators
You can actually watch and listen to Democrats scoff, insult and belittle those who were warning them!
You dont like the TRUTH do you?
uzijohn 3 years ago
"You dont like the TRUTH do you? "
WHAT YEAR WAS IT YOU IDIOT!!!
the repugs were in power when bush was "warning" them about F&F
HOW COME THEY DIDN'T DO ANYTHING
Also the point I keep making you refuse to address
the repugs were the ones that DEREGULATED, all you talk about is the need to regulate just ONE facet, F&F, it's industry wide
I admit the dems are crooked, you can't admit the repugs are worse.
bush, worst approval ever, largest debt and deficit ever, largest corrupt bankrupt.
gt40f 3 years ago
""Democrat politicians...risky loans...they even changed laws making it possible,""
When and where? Please be specific.
gt40f 3 years ago
gt40f,
Laws were passsed making it possible for welfare to be claimed as income while getting a home loan.
It was done under the Clintons watch!
uzijohn 3 years ago
"It was done under the Clintons watch!"
ROTFLMAO!!!!
WITH THE REPUGS CONTROLLING THE HOUSE AND SENATE!!!!!
gt40f 3 years ago
gt40f,
The Clinton administration using HUD modified and reinterpreted the
"United States Housing Act of 1937" in effect they changed or broadened the law or rules while bypassing congress,
This not only allowed welfare to be listed as income, but 3% could then be used as a down payment,
No sane lender would ever take such a risk,
Also remember Clinton commanly abused his "Presidential Orders privilege" as a way to get around the House & Senate
uzijohn 3 years ago
Then why is it that it always worked fine under Clinton and yet now after 8 fucking years of Bush fascism it turns to shit ? No, I'm not buying your typical, "BLAME THE DEM'S" argument. No, I think the level of Reagan DEREGULATION escalated under BubbleBoy Bush until it imploded. And all the powers that be, KNEW this was coming a LOOOONG time ago and hoped they'd simply make it through this 2nd term, at least Schiff proficised this years ago, and the talking headed literally laughed at him.
muserwood 3 years ago
"Japs build better cars"
I'm in the industry, their not much better, it's the perception.
That's not UAW, that's design, marketing, management. GM pays 4x as much on adverts as Toyota
"poor & middle class are screwed by unions "
How was it B-4 Unions Uzijohn? They lift ALL wages just by their presence. Name one successful 1st world country without Unions.
"Live better, Break the Union" Move to China Uzijohn, they have no Unions and you won't have to worry about being overpaid.
gt40f 3 years ago
gt40f,
I'm also in the auto industry 31 years,
I negotiated my own fair wage & benefits
I've worked for Japanese car companies that re-badged GM & Ford products or used major components, it didn't work well!
The engines were crap the transmissions were worse, every month stacks of recalls
The failure rate ran at a 9:1 ratio, Chrysler & Jeep aren't much better
Years ago unions stood for fairness and were respected, but now its just greed, socialism, far left politics and corruption
uzijohn 3 years ago
"re-badged GM....transmissions were worse"
Do you understand the diff between design and assembly? AFAIK the UAW is not involved with design, they just bolt them together.
The big 3's main problems are with design, not assembly.
Honda re-badged an Isuzu, called it the "Passport", it has a GM auto trans. Never replaced one of them in 15 years with Honda. But the Honda V-6 Auto trans a full 10% don't go past 50K mi. But you never hear about it because Honda fixes them for free.
gt40f 3 years ago
"The failure rate ran at a 9:1 ratio"
design problems, not assembly, not UAW
"Years ago unions stood for fairness and were respected, but now its just greed, socialism, far left politics and corruption"
all general statements, can't get specific
Seriously Uzijohn, you can't answer this question. How well would you have been able to "negotiate my own fair wage" in any country that has no Unions at all?
And if you are so anti Union why don't you move your as* to one of those countries?
gt40f 3 years ago
That's interesting, since every GM & Chrysler car I've known has lasted until a new car was purchased. And I'm talking about hundreds of thousands of miles.
In addition, Japan has tariffs on car imports. How about America? Japanese companies provide no benefits. Is that the world you'd like to live in? Where most people simply cannot have health insurance because they can't afford it? Do you want to go there? I assure you, it won't end pleasantly for you capitalists out there.
isubscriberesistance 3 years ago
The reason people can't afford health insurance is because the government monopoly comprises a substantial market share of it. There's so little competition that the incentive to lower prices is virtually non-existent. If somebody is not receiving health benefits from a job nobody is forcing them to work there, they can find a better employer. Perhaps their wages will increase as the health benefit money wouldn't be taken out and they could make their own choices.
readthepaper 3 years ago
Realistic evaluation in mind, what you're saying is the United States is hopeless.
isubscriberesistance 3 years ago
If we continue listening to the clowns that are telling us to just print money and keep stealing from the people and not allow the market to function; yes, we're finished. There is just simply no way we can continue this absurd Keynesian nonsense and have anything positive come about from it. We need this depression to come to wipe out everything that needs to be liquidated.
readthepaper 3 years ago 2
And that will be everything, because this time around, the U.S. has no real economy. It will be a serf society.
isubscriberesistance 3 years ago
Nice to hear some words of common sense. Thank you Mr. Peter Schiff.
ronpaulspanish 3 years ago
Peter is correct.The old horse and buggy whip economics. If you don't change and make a better product,someone will and you are out of business. Well, here you are Detroit.I for one am tired of buying cars that breakdown often. As for the fat,greedy,non caring CEOs they need to be canned.They have led the co. to this point.I hate it for the workers. The farther we get from religion(ethics) the farther the country goes down the tube. Look at other failed civilations. We are getting close.
PAYNE227 3 years ago
The Saudis have temporarily lowered prices to keep us addicted to oil, making greener cars less of a priority during this transitional period. The Saudis may have only about 40 years of oil left, so they are going to get every penny possible from before the end of addiction. Buy and own these companies for what they are actually worth and make them ALL go green, spend the rest on hydrogen fuel cell research and build an affordable car the whole world will demand, taking back the industry.
speedingtickets69 3 years ago
"vibrant 'manic factory' economy" at 4:07 or 4:08 ...
CACBCCCU 3 years ago
American cars have SUCKED for years. There's your problem.
JRCrowley 3 years ago
Hey, remember when they dropped the deductibility of auto loan interest?
CACBCCCU 3 years ago
peter schiff bitch slapped this dude.
openyourmind678 3 years ago 2
American cars are garbage. Why bailout pieces of crap? Let them go bankrupt and bye-bye. They will not be missed. Sure millions of people will lose their jobs. That is part of the cycle!!!!
rbatajr 3 years ago 2
I doubt the bailout bill will pass-once again, they tried to slip other agenda into a bill "A raise for federal judges". Has nothing to due with the auto industry.
If GM falls-it can never be replaced. We have no other choice-The big 3 must be saved.
littlegoodie2shoes 3 years ago
"If GM falls it can never be replaced"
Not that bad. Besides, in 2050, we will all be using flying backpacks (much more cost effective than flying cars) if only Obama does right his plan to start a high tech energy economy in the US.
Nothing is forever, you know?
Not even democracy. So, people have to keep their eyes opened.
shinobicl 3 years ago
FUCK ALL BAILOUTS
who would think a bunch of rich cocksuckers wanting billions of government money, get real
i am especially pissed at the car companies because of the shitty product they make
its funny when she says a saturn is the number 5 hybrid
WHO THE HELL DRIVES A SATURN????? i can imagine right now after 20,000 miles the piece of shit has its left tires fall off while going into the paint shop because the engine blew up and fucked up the finger paint they call a paint job
andretheking86 3 years ago 2
The Auto Industry spends 50 million dollars each year on lobbyists for Washington. They donated 15 million dollars to campaigns this year.
So, how do we really think this is all going to turn out?
Eventually, this will get done, irregardless of what's best for the country. The fact is the congressman don't know what's best for the country with regards to the auto industry. They merely latch on to a point without understanding the big picture and pretend to be experts on the situation.
FinsterFlummoxing 3 years ago
4:14
"We need to support these ass-" "Alright guys, hang tight..."
Not bashing the video at all, Peter Schiff is awesome and it was a good debate, I just thought that part was funny
Hawk552 3 years ago
"Where's it gonna end?!"
*blank stare*
Lmao.... priceless.
starclopsofish 3 years ago
It don't make sense to bailout corporations that move production abroad. They themselves rendered the very consumers of their goods to low wage, service and retail employees. They traded the (pay an American wage, charge an American price) circle, for a linear (pay a Mexican wage, charge an American price). The loophole works awesome untill America's all workin at Walmart and can no longer afford the goods produced. This one sided strategy would sure end a monopoly game quick.
joinhandz 3 years ago
joinhandz what you are talking about is NAFTA. A product of the New World Order, which Bush 1, Clinton and Bush 2 are affiliated with.
littlegoodie2shoes 3 years ago
These people are the same type of person that would buy blood diamonds like in the true story movie,Blood diamonds. Next thing they will want to outsourse our military for cheaper soldiers. People like them are the ones against farm aid of the past. They must also love foreign oil because it's cheaper, plus thinks its better to have foreiners working our oil rigs.Dont believe in fair trade as long as she or he can save buck, sell outs. Race to the bottom fools. Dont trust them.
bestwayusa1 3 years ago
Americans We all must start supporting USA products home made and grown. Safe fair made products,made in USA. Support original American name plate products. Go on line look for USA products there are many clothes tools ect... Lets put Americans back to work.
bestwayusa1 3 years ago
People need to support USA goods buy American made goods. Dont have the mind set of the 70s and 80s. That it cool,rebelish, to just not care and buy foriegn goods. Many of our polititians & media would have you believe this, they're in the back pockets of many foriegn companies And just like sheep many people follow them. Dont be a sheep help American workers out be Patriotic buy and look for USA goods in stores and on line We can not wait and be sheep to paid off polititains
bestwayusa1 3 years ago
Peopkle should be turned down if they have bad credit. We are starting to see reason! Thats why we are in this mess in mortgages. The auto executives are partly to blame but the unions and environmentalists are more to blame. Detroit avg wage with benefits $78 an hour,Honda Toyota and Nissan $35. Unions and EPA have forced huge costs on Auto companies here, driving manufacturing out of our country. Democrats, not letting us drill here costs more. Supporting foreign dictators.
3LCZZ 3 years ago 2
It's funny as production costs were halved with cheap labor, no epa regulations, no retirement, no unemployment, no comp insurance costs, etc., the price of a new car actually increased to the consumer now working for 8-10$ an hour. The fat American wage was the consumer. It was the middle class.
joinhandz 3 years ago
This has been flagged as spam show
AMERICANS you did a fine job telling how important it is to buy American products from food to autos from USA companys who make and have higher standards fairer wages for USA workers and must comply with laws of our nation and be held responsible when they dont. Unlike many other nations selling goods in our country. Its time for all of our states to support one another. And not be traitors to some foriegn country lining their pockets and to cause people in the USA to live worst off with less
bestwayusa1 3 years ago
It's funny, the closer someone gets to the truth the angrier the opponent gets. Peters 100% correct. There are no logical arguments on the other side. The other dude claims the companies are worthy of investment, if so they wouldn't be asking for government money.
richrdroma 3 years ago
Can we have an interview with Peter Schiff minus the idiots?
FGTBOGSAT 3 years ago
also the engineers that are told things like well there are plenty of jobs in France or Shanghai after their parents lost everything to come here. Or the engineers that fought in Vietnam so that they could afford college.
girlsvsboys 3 years ago
Detroit had the best laid plans before the executives got greedy like the rest of America.
capitalism doesn't work.
girlsvsboys 3 years ago
first of all, i've never heard of an engineer that went to school for 16 years. second and more importantly, capitalism does work. regardless of what makes an industry fail, in pure capitalism, when a company fails, new ones take their place. btw, of course the execs are greedy, just about everyone is in some way, i'd call it human nature. anyway their greed is not your problem if you're not in their company, and if they fail from it, then a less greedy company will evolve- in true capitalism.
breen234 3 years ago
1. I am part of their company.
2. I know several engineers who went to school for 16 years. It's a called a Phd.
girlsvsboys 3 years ago
okay, since you're part of the US auto industry, then you have a right to be upset about their greed, but i don't, nor do most people. and i reassert that capitalism DOES work. also, i've never heard of anyone going to school for a steady 16 years, but i looked it up and i guess some people do, but it seems pretty rare. my previous idea that it takes just a few years after a masters degree seems more common. but, without sarcasm, hats off to your studious engineer friends
breen234 3 years ago
also michigan government is fucked up. ie kwame, young, jennifer granholm.
why are they supporting us?
they should take it up with the engineers, and the men who have to wait everyday not knowing whether or not the 16 years they went to college was worth shit or not. paying 40 percent in taxes. having to take out 2nd mortgages that they can't afford on their houses. Depending on their pensions for those four or five years they might have for retirement before they drop dead.
girlsvsboys 3 years ago
Michigan has paid taxes just like everyone elses.
you don't have to tell michigan that the CEO's shouldn't be flying around in private jets the 533,000 without jobs or income as of november will tell you that.
girlsvsboys 3 years ago
not to mention the fact that the millions of people left unemployed by the auto bailout will be on welfare.you're so right, we should let Detroit go bankrupt, see what happens,and then hope that they restructure Green.when they dont, and America is paying other countries like communist China to build our cars, then we might have a problem.
Foreign policy needs to change and trade laws need to change.The Big Three has been generous to America, at a very serious cost.
girlsvsboys 3 years ago
When I moved back to the US from the UK, I could NOT find a good diesel car. Everything diesel was MONSTER BIG. Also, diesel was more expensive when it is easier to refine! We had a FORD diesel car in the UK. These companies have been taking their profits to build factories in other countries (and NOW they want a bailout? NO! Time for them to file bankruptcy like the airlines and get their act together. They shouldn't have listened to oil and they should have built fuel efficient cars!
Goobyusa 3 years ago 2
Chrysler has a rep for building cars that FALL APART at 50K miles! Let 'em bite dust!
Moreover, if GW & Co. hadn't conjured up a tidy "dollar for dollar" TAX BREAK for any small "company" that bought an SUV (back about 5 years ago), the mfrs would not be sitting on top of lots full of these wasteful monsters that now, no one dares to buy.
IMO, just another example of Gov't cronies throwing a monkey wrench into the free market.
Today in NJ: Sunoco Ultra $1.85
Bet it doubles by 1/20/09!
MzProgressive 3 years ago
How about manufacturing vehicles that run on Federal Reserve Notes, they appear to be abundant.
ToTink 3 years ago