"Government Motors" returns to top of world's auto sales

Did I miss the memo about inflation being rampant?

 

Counterpoint to the bolded part: Many of the pols on both sides get a lot of political contributions from those same banks and could change their tune if the lobbyists convince them it's the only way they'll be assured of keeping their seat.

 

Ahem.

 

If you did, don't worry, he's totally going to write you a new one. Hope you brought your reading glasses.

 

Should've indexed GM to gold then.

Oh wait.

 

GM issued this today:

DETROIT – The U.S. government bailout of General Motors spared 1.2 million jobs in 2009 and preserved $39.4 billion in personal and social insurance tax collections in 2009 and 2010, according to a Center for Automotive Research study released Monday.

“Any complete cost-benefit assessment of the federal assistance to GM in its restructuring must consider the total net returns to the public investment…” researchers Sean McAlinden and Debra Maranger Menk wrote in “The Effect on the U.S. Economy of the Successful Restructuring of General Motors.”

The infusion of money into GM and Chrysler by the administrations of Presidents George W. Bush and Barack Obama avoided loss to the U.S. of $105.3 billion in transfer payments and personal and social insurance tax collections. Additionally, 2.6 million jobs were saved in 2009 alone and $284.4 billion in personal income was preserved over 2009-2010.

“If the U.S. government had refused to assist (GM and Chrysler)… in a financial crisis of unprecedented proportions, then the whole U.S. economy was operating without a safety net, with the exception of course, of the banking system,” McAlinden and Maranger Menk conclude.

The center independently funded the new study as a follow up to a November 2008 analysis.

 

http://bizbeatblog.dallasnews.com/2013/12/michigan-study-says-gm-and-chrysler-bailouts-a-success.html/

 

First, that's just a press release, not a paper. Now the actual paper that was published to go along with this press release would be a better source, but a press release is just a tool used to get the word out. It's not the research. [/insidejokemadeatsomeoneotherthanCranberry'sexpense]

 

That would have eventually been negated when the GM and Chrysler cars that would not have been sold would have turned into Fords, Toyotas, Hondas, Nissans, Kias, Hyundais and other brands that would have eventually been purchased. Every one of those companies would have had to build more cars and hire more people to do that.

 

You don't really don't know what a press release is, do you?

 

sigh ... I guess not. There's so, so much I don't really know. Please light a candle in my darkness and illuminate for me the myriad mysteries of that holiest of holies, the press release.