United States Senator Jon Tester For Montana Warn Of Catastrophe Big 3 Carmakers Beg For $25 Billion

[usergently]

That is what a politicians are supposed to do. Get answers!

[airbats801]

I was watching this on cspan a while back. Jon really grilled those guys good. I love that guy.

[libertyeconomics]

Jon Tester misses the issue here. The reason why they have to be invested in other markets is because the U.S. government spends too much, taxes too much, regulates too much, and inflates too much. Thus it is UNPROFITABLE to invest in the U.S., especially with GM's union model.

[waltermh111]

Why can foriegn companies come in and survive paying their workers good wages close to GMs with good healthcare

GM does have an issue with the fact they have so many retirees to care for and its US gov fault that unlike most of the world we force business to deal with health of the people instead of the gov

Yet we regulate less then most first world countries, we definitely dont tax too much, and again, that would affect foriegn incoming companies too

Inflation also affects incoming companies

[waltermh111]

Are you also maybe suggesting that you would rather vehicles never improve efficiency and safely so the companies can make big bucks?

I would rather have progress and its only the US companies who have the biggest problem following regulation even though ours is less so then EUs.

A note: Even with all the overseas jobs GM created and all the US closings they still arent able to run a solid business.

Just maybe its their incompetence and not the govs fault.

[libertyeconomics]

I would recommend reading some Mises and Rothbard. It is important to understand where wealth comes. It comes from capital.  Capital funds labor. Thus the issue isn't about just having the government redeploy resources to unproductive channels. We need a free market. All of these insolvencies are a corollary of a bankrupt nation. We have to return to a free market and become productive again. You can't create savings out of thin air, and more government spending is only doing more damage.

[usergently]

It stinks mafia-assholes right trought my screen!....but the guy from Montana!... bullseye!

[SailorWuvsPeanut]

QUOTES:

"General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker."

According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."

[Latin American Herald Tribune]

[pure2warrior]

Three blind mice, see how they run.