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12-28-2009, 07:37 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
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Dave what I have been saying for years, we run on the Jack System, as in "Screw you Jack, I've got mine".
I have commented on how our mortgage system was designed by thieves for thieves. Now I know there are many honest people in the business, but the system tempts people to cheat. Suppose I am a mortgage broker, my kid needs college tuition and I have this client who wants to buy an $750,000 home. I know his income won't meet the mortgage after the first year, but I get one point from the $700,000 mortgage and run no risk, so I refer him. The bank knows that it will securitize his mortgage along with others and sell it so they take their two points and sell the bundle. If this is not what Wall Street calls Moral Hazard they bloody well should have.
Sure there is greed in abundance out there but the system only encourages it, to the point where honest folk are thought to be fools.
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Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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12-28-2009, 08:13 AM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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Quote:
Originally Posted by merrylander
We could have insisted that the Big Three come up with better iron.
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WAAAAY to hard for the big 3 to understand, they were arrogant.
Folks, we start a trade war and this recession will look like a quaint little problem.
Why can the Japs make money building cars here, but we can't? What is different?
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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12-28-2009, 09:48 AM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by piece-itpete
WAAAAY to hard for the big 3 to understand, they were arrogant.
Folks, we start a trade war and this recession will look like a quaint little problem.
Why can the Japs make money building cars here, but we can't? What is different?
Pete
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The Japanese plants are largely, but not entirely, non-union.
This is a problem that can, and should be resolved.
I agree, Pete. The playing field needs to be levelled.
The Japanese managers have had it entirely too easy for entirely too long.
Dave
Dave
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"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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12-28-2009, 12:32 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Quote:
Originally Posted by piece-itpete
WAAAAY to hard for the big 3 to understand, they were arrogant.
Folks, we start a trade war and this recession will look like a quaint little problem.
Why can the Japs make money building cars here, but we can't? What is different?
Pete
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So we should sit back and be raped?
Because the states where they located gave them big tax breaks and even paid them to locate where they are. They are non-union and pay scab wages. Their home governments subsidise them, part of Japanese trade policy, subsidise their manufacturers until they have eliminated the competition, then watch out.
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Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
Last edited by merrylander; 12-29-2009 at 07:06 AM.
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12-28-2009, 12:40 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
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They pay well Rob, and around here anyway the state gives big money to the 'medium two' ( ) to stay put and expand.
It's the crazy bennies. Last contract, one concession was they gave up the day after Easter as a holiday.
I didn't know some folks got that day. I've never even heard of it.
I agree, Japan is no slouch and we should be very careful. I vote for full reciprocity regarding trade.
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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12-28-2009, 01:13 PM
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Senior Member
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Join Date: Nov 2009
Location: Sonoma County, CA
Posts: 20,496
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Quote:
Originally Posted by piece-itpete
They pay well Rob, and around here anyway the state gives big money to the 'medium two' ( ) to stay put and expand.
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There are a lot of hidden percs the southern states like Alabama, South Carolina and Kentucky have given the foreign manufacturers for locating in their states, everything from giving them free tax-free land to building the highways that run past it.
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It's the crazy bennies. Last contract, one concession was they gave up the day after Easter as a holiday.
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Well, they've cut their wages and benefits to the point where they can't getaway with more. All they have left is to nickel and dime the workers around the edges by taking away little things like paid days off.
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I didn't know some folks got that day. I've never even heard of it.
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And you never will again.
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I agree, Japan is no slouch and we should be very careful. I vote for full reciprocity regarding trade.
Pete
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If you're talking about tariff and such it's kinda too late for the car companies. How do you put an import tariff on something built here by a foreign company?
John
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Smoke me a kipper. I'll be back for breakfast.
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12-28-2009, 01:40 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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Gosh we love to argue don't we?
Quote:
Originally Posted by Boreas
There are a lot of hidden percs the southern states like Alabama, South Carolina and Kentucky have given the foreign manufacturers for locating in their states, everything from giving them free tax-free land to building the highways that run past it.
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Ohio does the same thing for both foriegn and domestics.
Quote:
Originally Posted by Boreas
Well, they've cut their wages and benefits to the point where they can't getaway with more. All they have left is to nickel and dime the workers around the edges by taking away little things like paid days off.
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Do you have any idea what benefits we're talking about here? T'ain't 5 and 10.
Quote:
Originally Posted by Boreas
And you never will again.
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I'll be happy with another week
Quote:
Originally Posted by Boreas
If you're talking about tariff and such it's kinda too late for the car companies. How do you put an import tariff on something built here by a foreign company?
John
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Use the exact same thing they do. Are we allowed to build cars there? Then guess what. Start taking apart every car that comes in from Japan and the big 2 will be booming again toot sweet
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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12-28-2009, 02:26 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Not only that they are assembled here, many of the parts are imported.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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12-28-2009, 02:42 PM
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Senior Member
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Join Date: Nov 2009
Location: Sonoma County, CA
Posts: 20,496
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Quote:
Originally Posted by piece-itpete
Gosh we love to argue don't we?
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Is that what this is?
Quote:
Ohio does the same thing for both foriegn and domestics.
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I don't think that's true. When was the last time Detroit built a plant in Ohio or anywhere else? They've been closing them and/or selling them to foreign manufacturers. Of course, that would also mean no new roads to non-existent new domestic plants.
Quote:
Do you have any idea what benefits we're talking about here? T'ain't 5 and 10.
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So, the UAW hasn't negotiated away any of their wages and benefits lately?
Quote:
Use the exact same thing they do. Are we allowed to build cars there? Then guess what. Start taking apart every car that comes in from Japan and the big 2 will be booming again toot sweet
Pete
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Again, they're all building cars here. How do you impose a tariff on them? Do you propose forcing them to shut down their US plants?
John
__________________
Smoke me a kipper. I'll be back for breakfast.
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12-28-2009, 02:55 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Maybe we can get South Carolina to seceed.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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