Nicolaus Nemeth

...and the survey says?

13 posts in this topic

From CNN Money.com:

The CNN/Opinion Research Corp. poll, conducted by telephone on Dec. 1-2 with nearly 1,100 people, showed that 61% of those surveyed oppose government assistance for the major U.S. automakers.

Share this post


Link to post
Share on other sites

As I recall, an even larger percentage opposed bailing out the banks, but it passed, with bipartisan support, anyway.

Share this post


Link to post
Share on other sites
As I recall, an even larger percentage opposed bailing out the banks, but it passed, with bipartisan support, anyway.

Yup, and despite the risk of being voted out of office for passing it. The fact that the Democrats gained seats suggests that people's disagreement with the bailout was not a disagreement with liberal policies. Many of them were simply upset that "corporate greed" was being rewarded.

Share this post


Link to post
Share on other sites

While it's certainly true that US auto manufacturers are responsible for their self-destructive, pragmatic choices -- accommodating the UAW's insane demands, repeatedly embracing Gov intervention, etc. -- the current mess isn't of their own, direct making. The credit freeze is what's hurting them most right now, and to watch them being berated by the very "intellectuals," politicians and Press members that are to blame for a good part of the credit freeze , is painful and discouraging. Worse, Capitalism is getting the blame here, a trend that may empower the Anointed One and the Left to do even more mid to longterm damage. What a massive contradiction this whole mess is.

Share this post


Link to post
Share on other sites

As one living at ground zero - Flint,Michigan - it is fascinating to watch and listen to this discussion. Philisophically, I am opposed to all of the bailouts - I work at a bank, too, one which took the necessary steps on its own to fix real estate market damage. Then the government swooped in and handed out cash to those without our management's courage. Emotionally, I wanted Rick Wagner to stand up and call Barney Frank what he is and head for bankruptcy court. That would hurt all of us a lot, but maybe it would be the beginning of making the whole thing honest.

Within 5 miles of my house are the headquarters of some of the most militant UAW locals there are. It would be gratifying at one level to see them get their final comeuppance.

Although I work with local governments now, I did a good deal of commercial work. I can tell you a lot of small towns all over the country where they don't have Toyota dealerships have the Ford, GM and Chrysler dealers are the biggest tax payers and employers in town.

Its easy to read books and debate philosophy. I can tell you from ten years experience that most of the people in this country are not prepared for what comes next. Some of us are going to have to act like people we've read about. And expect others to act like other people we've read about.

A relative a very well connected politician - a name you'd know, a Democrat - gave me a copy of William Manchester's A World Lit Only by Fire, which is very popular and making the rounds in that set right now. The fires were not bonfires with happy groups singing Kumbaya.

Share this post


Link to post
Share on other sites
Its easy to read books and debate philosophy. I can tell you from ten years experience that most of the people in this country are not prepared for what comes next.

Philosophy isn't easy, but I know what you mean: It's not a substitute for knowing what is in fact going on, which cannot be deduced by those claiming to have a superior philosophy as if that's all they need, and it's not a substitute for making the right choices among those possibilities left available to us here in reality.

Some of us are going to have to act like people we've read about. And expect others to act like other people we've read about.

Isn't that always the case? What do you have in mind for the near future in particular?

A relative a very well connected politician - a name you'd know, a Democrat - gave me a copy of William Manchester's A World Lit Only by Fire, which is very popular and making the rounds in that set right now. The fires were not bonfires with happy groups singing Kumbaya.

Why that book in particular in that crowd?

Share this post


Link to post
Share on other sites
Its easy to read books and debate philosophy. I can tell you from ten years experience that most of the people in this country are not prepared for what comes next.

Philosophy isn't easy, but I know what you mean: It's not a substitute for knowing what is in fact going on, which cannot be deduced by those claiming to have a superior philosophy as if that's all they need, and it's not a substitute for making the right choices among those possibilities left available to us here in reality.

Some of us are going to have to act like people we've read about. And expect others to act like other people we've read about.

Isn't that always the case? What do you have in mind for the near future in particular?

A relative a very well connected politician - a name you'd know, a Democrat - gave me a copy of William Manchester's A World Lit Only by Fire, which is very popular and making the rounds in that set right now. The fires were not bonfires with happy groups singing Kumbaya.

Why that book in particular in that crowd?

The book is about the collapse of almost all the prevailing power structures - the Catholic Church, the remains of the Holy Roman Empire, the expansion of geography via voyages of discovery and conquest - the existing paradigm completely destroyed. The violence and destruction were more than I ever knew about. I gather from casual conversations that "moderate" Democrats are fearful of the empowerment of the left in this election cycle and both domestic and international consequences.

What am I going to do? Buy a semi-automatic shotgun; get ready to sell our beautiful and otherwise perfect house into the wave of government money I think will overtake areas like this in the early Obama years; take the Dead Cat Bounce in the markets I expect to reorganize my retirement portfolio and BUG OUT.

Share this post


Link to post
Share on other sites
Its easy to read books and debate philosophy. I can tell you from ten years experience that most of the people in this country are not prepared for what comes next.

Philosophy isn't easy, but I know what you mean: It's not a substitute for knowing what is in fact going on, which cannot be deduced by those claiming to have a superior philosophy as if that's all they need, and it's not a substitute for making the right choices among those possibilities left available to us here in reality.

Some of us are going to have to act like people we've read about. And expect others to act like other people we've read about.

Isn't that always the case? What do you have in mind for the near future in particular?

A relative a very well connected politician - a name you'd know, a Democrat - gave me a copy of William Manchester's A World Lit Only by Fire, which is very popular and making the rounds in that set right now. The fires were not bonfires with happy groups singing Kumbaya.

Why that book in particular in that crowd?

Philosphy isn't easy? A law professor I had once, an experienced trial guy, used to say to struggling students "THe law is easy; the facts are hard." I'm doing a lot of work on Night of January 16th in the drama class I'm in now and have worked my way back through Romantic manifesto and inparticular the sense of life discussion. I'm inclined right now to think Philosophy is easy.

Share this post


Link to post
Share on other sites
[...] have worked my way back through Romantic manifesto and inparticular the sense of life discussion. I'm inclined right now to think Philosophy is easy.

Among her many staggering capacities, Miss Rand was one heck of a teacher. That's why it's possible for almost anyone who wants to master some of the most complex issues imaginable to study a lean, clearly written paperback or two and develop an empowering understanding of the crucial science of philosophy.

Share this post


Link to post
Share on other sites
From CNN Money.com:
The CNN/Opinion Research Corp. poll, conducted by telephone on Dec. 1-2 with nearly 1,100 people, showed that 61% of those surveyed oppose government assistance for the major U.S. automakers.

It may not matter fairly soon because you are more or less out of the ability to borrow money. This may sound unbelieveable, but the legislators in Washington have pushed you to the brink of bankruptcy.

My basis for these remarks?

For the first time in history, including the depression, US government bonds offer a negative return (ie investors don't expect to get theoir money back). If this persists, no-one will be lending any money.

So you may think a reasonable person might wonder if ths is exactly the time to be throwing around $15B to failing car companies

Government bonds negative return

Share this post


Link to post
Share on other sites
From CNN Money.com:
The CNN/Opinion Research Corp. poll, conducted by telephone on Dec. 1-2 with nearly 1,100 people, showed that 61% of those surveyed oppose government assistance for the major U.S. automakers.

It may not matter fairly soon because you are more or less out of the ability to borrow money. This may sound unbelieveable, but the legislators in Washington have pushed you to the brink of bankruptcy.

My basis for these remarks?

For the first time in history, including the depression, US government bonds offer a negative return (ie investors don't expect to get theoir money back). If this persists, no-one will be lending any money.

So you may think a reasonable person might wonder if ths is exactly the time to be throwing around $15B to failing car companies

Government bonds negative return

A negative rate for treasuries means people are paying the government to keep their money...that they think it's not safe anywhere else. An old Jewish man I met a few years ago told me how his most important negotiations in the 1940's were with Swiss banks over how much they would charge to keep his money.

Share this post


Link to post
Share on other sites
From CNN Money.com:
The CNN/Opinion Research Corp. poll, conducted by telephone on Dec. 1-2 with nearly 1,100 people, showed that 61% of those surveyed oppose government assistance for the major U.S. automakers.

It may not matter fairly soon because you are more or less out of the ability to borrow money. This may sound unbelieveable, but the legislators in Washington have pushed you to the brink of bankruptcy.

My basis for these remarks?

For the first time in history, including the depression, US government bonds offer a negative return (ie investors don't expect to get theoir money back). If this persists, no-one will be lending any money.

So you may think a reasonable person might wonder if ths is exactly the time to be throwing around $15B to failing car companies

Government bonds negative return

A negative rate for treasuries means people are paying the government to keep their money...that they think it's not safe anywhere else. An old Jewish man I met a few years ago told me how his most important negotiations in the 1940's were with Swiss banks over how much they would charge to keep his money.

Forgive me but this seems a somewhat perverse interpretation. It is true that some people look for the proverbial safe haven, but there is more to it than that.

Share this post


Link to post
Share on other sites