CRAP CIRCLES, HOOVER CRAFT AND fMRIs

We have a burning problem on our hands.
--- The problem are Crap Circles, and no, I dont mean Crop Circles, which one way or another are the result of intelligent design. No, no, I mean Crap Circles and the lack of it. The lack of intelligent design, that is.
--- CRAP is actually an acronym for CONGRESSIONAL REPUBLICANS AMATEUR POLITICS, that is the mind-boggling incompetence to analyze the consequences of their actions.
--- You are aware of course of the problem the car makers have. The problem is very serious and whoever is at fault this is not the time to put 2.5 million MORE people out of work. There would be a dramatic ripple effect.
--- We cannot afford it for macro-economic reasons: You dont create another loss of nearly $150 billion in purchasing power if you are in a recession with millions unemployed. That is Macro-Economy 101.
--- At this moment we have 4.43 million people on the unemployment list. The loss in purchasing power is dramatic already. Add to that the cost to the taxpayer caused by payments of unemployment benefits.
--- According to the Almanac of Policy issues, the average total payment per unemployed is $3,118.
--- Now lets calculate the cost to taxpayers for the current number of people unemployed. That is 4.43 million times $3,118, or a total of $13,782 billion that are being paid as unemployment benefits by tax payers, that is you and me.
A few days ago I presented the extent of the loss in purchasing power if the failure of GM and Chrysler causes a loss of 2.5 million more jobs. The loss in annual purchasing power would be another $145.6 billion. Add to that the total unemployment payments to these 2.5 million and you come to another nearly $8 billion. Looks to me we are talking real money by now, especially if you consider that the loss in purchasing power at this moment is already beyond the $100 billion mark. Now lets look at the Crap Circles some Senators are making, Senator Shelby being the poster boy. The reason for his opposition, he says, is that the UAW, the auto worker Union should make concessions on their wage demands. --- According to Crain Detroit Business News the average wage of auto workers is $27.88 cents, based upon $58,000 income per year, that is of course before taxes. --- Now lets look at the wages paid in Shelbys home state Alabama. According to The Birmingham News the average weekly wage of auto workers is $1,302. $1,302 divided by 40 hrs amounts to $32.55 per hour, or nearly $5 higher than Detroit. The problem is that reducing the benefits retroactive, that is taking away the benefits from retired workers raises serious legal problems, as these payments are being paid under contracts that were fulfilled by the workers.
The problem is no longer national. I reported yesterday that German car makers too need help. Indeed, General Motors Opel Divisions workers fear the worst.
--- According to media reports Republicans claim they have an issue with the bonus benefits auto workers receive.
Actually a memo circulated between Republicans gave a different reason.
The true reason was to KILL the UAW, even if it kills American car makers. The Republicans are not realizing that the profits made by foreign car makers in the USA go to other countries! Interestingly, Republicans have no problems with the bonuses and benefits the finance companies pay their employees, and no I am not talking about the CEOs, that was taken care of before. --- Foreign car makers in Alabama and in other states have announced that they will cut car production. There is simply no market for new cars at the current unemployment rate, never mind if it increases.
The Republicans incompetence to deal with economic issues originated with Herbert Hoover and has evolved into a craft. Hoover, too, found
himself in a recession and crashed the economy by refusing to deal with it.

Category:

News & Politics

Tags:

• AUTO
• MAKER
• BAILOUT
• RECESSION
• PURCHASE
• POWER
• LAY-OFFS
• RICHARD
• SHELBY
• GM
• CHRYSLER
• UNEMPLOYMENT

[bvongrabe]

Wallstreet Journal from February 6, 2009: the governments broader measure of unemployment hit a more stunning level: 13.9%, up from 13.5% in December.

The figure, which largely accounts for people who have stopped looking for work or cant find full-time jobs, is the highest since the Labor Department started the data series in 1994. Its just shy of a discontinued and even broader measure that hit 15% in late 1982, when the official unemployment rate was 10.8%. Bushonomics!

[WAKINGUPAMERICA]

now in 2-8-09 the unemployed number in the U.S. is 11.1 million so this goes to show your macro 101 is bullshit

[bvongrabe]

Let me see now, as of February 6, 2009 4.8 million people receive unemployment benefits - at cost to the public which pays the benefits - and at a loss of purchase power to the economy, not counting those that are beyond the benefit period. According to you that is not so. Not sure from which planet you come from. Here - on planet earth - the damage to the economy is significant and the result of a policy devised by morons.

[WAKINGUPAMERICA]

now what about the people who do not get "unemployment benefits"that are unemployed,then we need to look at the indirect unemployment which are the people that where getting say 40+ hours a week but now their hours have been cut back and this is a form of unemployment but for some reason it never gets add in.For the morons that just want the governments lies about unemployed workers to get TRUE figures you need to do you own research,reported receivable benefits is just a tip of the truth

[bvongrabe]

Read today's blog, out about noon, entitled U-6, BUY AMERICAN ... which precisely addresses the issue of U-6, that is false reporting. That has nothing to do with my issue, namely that we have to get a stimulus going - and not playing on DELAY because of political chenanigans.

[headshotgiver8520]

Beauty in CRAP(Shit)

[WAKINGUPAMERICA]

I thought you would agree in a round about way

[chena3]

rock on

thanx for the perspective ..

peace out

[LastReplaySC]

also Chevron's/Texaco's held battery patents are a case of global security. They should be made public domain. All new energy or energy storage patents that are not used (older than 2 years) or developed should be Global domain.

[LastReplaySC]

Opel was working at a profit, but the macro economic shared book-keeping with GM is bleeding Opel dry, also Germans hare hesitating to bail out Opel because they are scared that the cash will just go to the US and just burn up with no result