Comments on: Will loss of automakers lead to a depression? http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/ Tell Jack how you really feel Sat, 19 Dec 2009 00:00:35 +0000 http://wordpress.com/ hourly 1 By: bradenton fl http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794890 bradenton fl Thu, 04 Dec 2008 21:47:52 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794890 These companies effect countless number of businesses. if they fail this country will fall into a depression of the likes we have never seen and may not recover from for more than a decade. These companies effect countless number of businesses. if they fail this country will fall into a depression of the likes we have never seen and may not recover from for more than a decade.

]]> By: AKINLOYE http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794888 AKINLOYE Thu, 04 Dec 2008 21:47:45 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794888 I believe so, and if $35 billion will save the automakers from going under, then they should be given the soft bailout loan. The taxpayers can see this amount as the 5% sales tax on the $700 billion bailout for the banks. I am confident we will all be happy to keep the american pride alive. I believe so, and if $35 billion will save the automakers from going under, then they should be given the soft bailout loan. The taxpayers can see this amount as the 5% sales tax on the $700 billion bailout for the banks. I am confident we will all be happy to keep the american pride alive.

]]> By: Char-Michigan http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794885 Char-Michigan Thu, 04 Dec 2008 21:46:28 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794885 If you think the economy is bad now, then let's just say "you ain't seen nothin yet". Think of it as a long line of dominoes, with GM, Chrysler and Ford being the first 3 dominoes in the line. When you knock down the first one, the whole line will go. If you think the economy is bad now, then let's just say "you ain't seen nothin yet". Think of it as a long line of dominoes, with GM, Chrysler and Ford being the first 3 dominoes in the line. When you knock down the first one, the whole line will go.

]]> By: bigjoerice http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794884 bigjoerice Thu, 04 Dec 2008 21:46:24 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794884 There was no talk of depression last year when they were still going broke. If there had been no financial crisis, GM would still have been blowing through billions of dollars with nothing but HUMV thinking to stop it. The same people who would be unemployed with their bankruptcy would still have been unemployed. Let the marketplace make it work. There was no talk of depression last year when they were still going broke. If there had been no financial crisis, GM would still have been blowing through billions of dollars with nothing but HUMV thinking to stop it. The same people who would be unemployed with their bankruptcy would still have been unemployed. Let the marketplace make it work.

]]> By: Nelson - Somerdale, NJ http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794880 Nelson - Somerdale, NJ Thu, 04 Dec 2008 21:45:28 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794880 No. If GM goes under then we will buy more Chryslers and Fords. Those two companies will have to increase production, acquire assembly plants, and hire workers to meet their increased demand. I'm sure the UAW has room in the Job Bank for the rest of the displaced workers. No. If GM goes under then we will buy more Chryslers and Fords. Those two companies will have to increase production, acquire assembly plants, and hire workers to meet their increased demand. I'm sure the UAW has room in the Job Bank for the rest of the displaced workers.

]]> By: Rob , NYC http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794879 Rob , NYC Thu, 04 Dec 2008 21:45:23 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794879 even if we were in one the government won't admit it until we're in it for a year.Why is it that people know more whats going on than they do ? with all the power and money comes a lot of stupidity even if we were in one the government won't admit it until we're in it for a year.Why is it that people know more whats going on than they do ? with all the power and money comes a lot of stupidity

]]> By: Hakon http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794878 Hakon Thu, 04 Dec 2008 21:45:19 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794878 Well Jack, they ( CEO's) already look pretty "depressed " on your Blog page!!! Well Jack, they ( CEO's) already look pretty "depressed " on your Blog page!!!

]]> By: John in Texas http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794860 John in Texas Thu, 04 Dec 2008 21:40:52 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794860 Jack - This really isn't rocket science. The Big-3 have made poor decisions for years resulting in inferior products with excessive costs (see union agreements). Nobody wants 3 million folks added to the unemployment tally, but blame should be with Big-3 management, not Congress. Last time I checked, banks review business plans and make loans if they see a solid road map. If the Big-3 need cash to survive, they should seek bank assistance or file for bankruptcy. Congress is Not more qualified than banks at reviewing business plans - which is likely why the Big-3 are at their doorstep. Jack – This really isn't rocket science. The Big-3 have made poor decisions for years resulting in inferior products with excessive costs (see union agreements). Nobody wants 3 million folks added to the unemployment tally, but blame should be with Big-3 management, not Congress. Last time I checked, banks review business plans and make loans if they see a solid road map. If the Big-3 need cash to survive, they should seek bank assistance or file for bankruptcy. Congress is Not more qualified than banks at reviewing business plans – which is likely why the Big-3 are at their doorstep.

]]> By: Patricia A. Neal http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794855 Patricia A. Neal Thu, 04 Dec 2008 21:39:36 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794855 I don't understand why anyone thinks we should not keep the auto manufacturers alive. The lost of the loans they are requesting is far less that the cost of letting them go under. How much will it cost for unemployment pay for all affected plus food stamps. They will be added to those without health care insurance. Then there will be bankrupticies and all those affected by that and more mortgage foreclosures and the financial institutions affected as well as neighbors of the foreclosed homes. There will be the cost of retraining them for jobs although what jobs there will be in a depression is questionable. The stock market and the 401ks will take a beating and state and local government tax losses will further bring us deep into a depression. Don't blame just the companies, how about congress that failed to force them to produce more fuel efficient cars and the buyers who bought the gas guzzlers. Wake up and get the companies a loan. I don't understand why anyone thinks we should not keep the auto manufacturers alive. The lost of the loans they are requesting is far less that the cost of letting them go under. How much will it cost for unemployment pay for all affected plus food stamps. They will be added to those without health care insurance. Then there will be bankrupticies and all those affected by that and more mortgage foreclosures and the financial institutions affected as well as neighbors of the foreclosed homes. There will be the cost of retraining them for jobs although what jobs there will be in a depression is questionable. The stock market and the 401ks will take a beating and state and local government tax losses will further bring us deep into a depression. Don't blame just the companies, how about congress that failed to force them to produce more fuel efficient cars and the buyers who bought the gas guzzlers. Wake up and get the companies a loan.

]]> By: Joe -Washington State http://caffertyfile.blogs.cnn.com/2008/12/04/will-loss-of-big-three-lead-to-depression/#comment-794850 Joe -Washington State Thu, 04 Dec 2008 21:38:07 +0000 http://cnncaffertyfile.wordpress.com/?p=2860#comment-794850 NO, we are allready in a recession/depression--- DECLARE CHAPTER 11 AND Starting, with no legacy burdens ... will be good for the future of the workers, AND THE COUNTRY. NO, we are allready in a recession/depression-

DECLARE CHAPTER 11 AND
Starting, with no legacy burdens ... will be good for the future of the workers, AND THE COUNTRY.

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