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We would be in much better shape by now
Posted by Reality (more from Reality) on Fri, 6 May 2011 20:27:54
In Reply to: So without the government stepping in, Noel, Fri, 6 May 2011 19:55:24
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The shareholders of GM and Chrysler would have been wiped out . . . just like they have been in our timeline;
The bond holders would have been paid according to the proper contractual precedence, either as holders of a new carmaker or getting paid off after liquidation;
GM and Chrysler would have a much leaner work force, finally freed from the union contracts; either that, or Chrysler would have ceased to exist, and GM would have become a non-US company . . . with their factories sold off to other carmakers, such as Ford, ToyotaUSA, American Honda, etc..
Detroit would finally have had a chance to revive, with real jobs offered by new businesses taking over the physical assets of the old GM and old Chrysler without the massive debts that they have, and without the burden of the counterproductive union contracts . . . also a reduction in political influence pedalling as the source of that dirty money in the form of union dues and government transfers are cut off.
Market is driving everything. It's just a matter of whether the currency in the market place is normal currency vs. normal currency + political influence/corruption. The bureaucratic power game is a form of market too, just not a free and open market place.
What should the government do? keeping itself in check, and keeping an even more ugly version of itself in check, as always.
Should there even be a government? Yes, so long as people still have the inclinations to use violence against one another and in the process creating an even worse version of a government.
posted by 76.118.39...
Posts in this Thread:
- Car company bailouts, No Snaab, Thu, 5 May 2011 13:19:51
- GM to add 4,000 jobs, duking it out with Toyota, No Snaab, Wed, 11 May 2011 07:58:09
- Important to see the big picture, Noel, Fri, 6 May 2011 06:16:54
- Doubly Ironic, Reality, Fri, 6 May 2011 07:00:56
- So why don't you tell us, Noel, Fri, 6 May 2011 09:45:54
- He doesn't deal in "reality", No Snaab, Fri, 6 May 2011 11:17:12
- Re: So why don't you tell us, Reality, Fri, 6 May 2011 10:46:21
- You didn't answer the questions, Noel, Fri, 6 May 2011 11:17:54
- Re: You didn't answer the questions, Reality, Fri, 6 May 2011 11:43:04
- Re: You (still) didn't answer the questions, Noel, Fri, 6 May 2011 12:49:13
- He won't answer, No Snaab, Fri, 6 May 2011 14:12:45
- What is Heaven like?, Reality, Fri, 6 May 2011 15:04:00
- less vs more vs balance, James, Fri, 6 May 2011 15:31:40
- Balance is okay, Reality, Fri, 6 May 2011 16:10:30
- What color is the sky in your world?, Noel, Fri, 6 May 2011 16:24:48
- Blue, Black, Grey, White, Orange, Pink, Red,, Reality, Fri, 6 May 2011 16:46:55
- So without the government stepping in, Noel, Fri, 6 May 2011 19:55:24
- Re: Blue, Black, Grey, White, Orange, Pink, Red,, James, Fri, 6 May 2011 18:11:52
- False Choice, Reality, Fri, 6 May 2011 13:33:38
- Re: So why don't you tell us...Been there done that an, Joeychess, Fri, 6 May 2011 10:22:45
- That's fiscally responsible and also well stated yet, Joeychess, Fri, 6 May 2011 08:19:33
- Re: Important to see the big picture...Well said n/m, Joeychess, Fri, 6 May 2011 06:22:03
- Don't kid yourself, BTG88, Thu, 5 May 2011 21:59:15
- Gov't role in today's economy, adl6009 , Thu, 5 May 2011 19:17:20
- Ironic timing, "new" GM is caught stuffing channel, Reality, Thu, 5 May 2011 13:41:26
- Macro econ. vs the guy at the plant, AlS, Thu, 5 May 2011 18:16:21
- Keynesianism is Macro Econ, duh!, Reality, Thu, 5 May 2011 18:27:34
- "I address car topics under a different user name.", Steve T., Fri, 6 May 2011 08:02:22
- Keynes vs. Keynes..., James, Fri, 6 May 2011 06:49:05
- Re: Keynesianism is Macro Econ, duh!, kkelley, Thu, 5 May 2011 20:37:44
- Apparently stuffing the distribution channel works, Paul B., Thu, 5 May 2011 16:33:57
- Re: Ironic timing, "new" GM is caught stuffing channel, kkelley, Thu, 5 May 2011 14:50:16
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