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post #1 of 17 (permalink) Old 09-24-2009, 09:40 PM Thread Starter
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The next General Motors

I had several people PM me regarding the paper I mentioned weeks back. The topic was, "The next GM: The United States." I am unable to post it, but here is a VERY brief outline of a speech made on the subject. The GM conversation was a small part of a larger speech, but it does have a couple of points to ponder:

I Want to Start Today With a Quick Story -- Sum Up My View of the World-

1. there used to be a car company called GM
a. maybe some of you have heard about it
b. I've spoken about it for 10 years:
(i) had too much debt
(A) promised to pay retirement / healthcare
(ii) employees were overpaid / protected by partisan union
(iii) yr after yr, spent more than took in
(iv) management refused to address problems
(v) others produced better products that were cheaper
c. it was easy to see that it was not sustainable
(i) I would argue that everyone knew it
d. the question was "when would it happen?"
(i) my answer was that I have no idea
(A) but it was unavoidable
e. a better answer would have been, "I see an economic crisis
starting in 2007, resulting from the credit bubble and a housing bubble."
(i) of course, I didn't know when, but you knew it would happen
f. there were times that you could successfully trade GM's stock
(i) but the buy and hold investor got killed



2. the next GM is the United States
a. we have too much debt
(i) we've promised to pay for retirement and healthcare
for everyone
b. we are separated by partisan political parties
c. we continually run deficits
d. we refuse to address the problems
e. others are producing what we used to produce
(i) and they're doing it cheaper
3. the question is, when will something happen?
a. again, the answer is that I don't know, but it will happen
4. this shapes all of my views and I'm going to speak about this today
5. the order of my presentation will be:
a. I'll start with my long-term view
b. then, I'll discuss our current state of affairs
c. finally, I'll end with what I'm worried about -- why I'm pessimistic
6. the reality is that none of us know what's going to happen next
a. my role is to present ideas to you

Last edited by slow99; 09-24-2009 at 09:46 PM.
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post #2 of 17 (permalink) Old 09-24-2009, 10:14 PM
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Damn you. Now I want to read it more!
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post #3 of 17 (permalink) Old 09-24-2009, 10:25 PM
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Me too. Damned tease...



Nice outline. Definitely provokes a bit of thought as to who we are to go to for a bailout. Then again what happens when the Chinese try to collect on their paper...
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post #4 of 17 (permalink) Old 09-24-2009, 10:29 PM Thread Starter
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Me too. Damned tease...



Nice outline. Definitely provokes a bit of thought as to who we are to go to for a bailout. Then again what happens when the Chinese try to collect on their paper...
Or just slows/stops purchases of new paper...

Last edited by slow99; 09-24-2009 at 10:41 PM.
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post #5 of 17 (permalink) Old 09-24-2009, 10:58 PM
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Your examples are good....however, GM couldn't just print more money!


It solves all the problems especially when the .gov needs to pay the defense contractors for making the equipment to protect us from our debtors!



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post #6 of 17 (permalink) Old 09-25-2009, 12:38 AM
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What sucks is that just like Ford, GM was starting to pick shit up. The new Camaro, the G8, CTS/CTS-V, the truck line, even the Cobalt. I guess they just sucked a wee bit too long. The C6 is basically a luxury car on the inside that performs like a supercar, the G8 is the same to a lesser extent, the camaro owns the mustang in all performance aspects, and I'm sure will get an interior upgrade in the next couple of years...

I think that the people of the US have a stale taste in their mouth for domestic vehicles. Hopefully they'll change their mind because both ford and GM are stepping it up like a mo-fo. I don't know about Daimler/Chrysler. They need some new engineers and artists because their models suck. Even the Challenger, although gorgeous on the outside, is a piece of shit on the inside.
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post #7 of 17 (permalink) Old 09-25-2009, 08:55 AM
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Originally Posted by poopnut2 View Post
What sucks is that just like Ford, GM was starting to pick shit up. The new Camaro, the G8, CTS/CTS-V, the truck line, even the Cobalt. I guess they just sucked a wee bit too long. The C6 is basically a luxury car on the inside that performs like a supercar, the G8 is the same to a lesser extent, the camaro owns the mustang in all performance aspects, and I'm sure will get an interior upgrade in the next couple of years...

I think that the people of the US have a stale taste in their mouth for domestic vehicles. Hopefully they'll change their mind because both ford and GM are stepping it up like a mo-fo. I don't know about Daimler/Chrysler. They need some new engineers and artists because their models suck. Even the Challenger, although gorgeous on the outside, is a piece of shit on the inside.
I believe the point of this thread just eclipsed your head...

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #8 of 17 (permalink) Old 09-25-2009, 09:37 AM
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Damn you. Now I want to read it more!
x2 damn it.

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Jester, your posts do the same thing as going to a county fair, you really make people think "Hey, I'm not so fucked up after looking at that guy!"
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post #9 of 17 (permalink) Old 09-25-2009, 11:33 AM
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Your examples are good....however, GM couldn't just print more money!
Yes they could, but they were called stock certificates.

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post #10 of 17 (permalink) Old 09-25-2009, 11:40 AM
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x2 damn it.
x3 do you have any more for us?

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post #11 of 17 (permalink) Old 09-25-2009, 11:54 AM
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I believe the point of this thread just eclipsed your head...
Yeah it did!

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post #12 of 17 (permalink) Old 09-25-2009, 12:03 PM
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Yes they could, but they were called stock certificates.
Werd, that is what I was thinking.

LETS HEAR THE SPEECH!

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post #13 of 17 (permalink) Old 09-25-2009, 01:30 PM
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Jody, thanks for turning my day south.

I always wanted to live in the wild west, Jeremiah Johnson style, and I think I'll get that chance.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #14 of 17 (permalink) Old 09-25-2009, 11:20 PM
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Jody, thanks for turning my day south.

I always wanted to live in the wild west, Jeremiah Johnson style, and I think I'll get that chance.


Heh, me too. Sure wish the .45 on each hip held a few more rounds...
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post #15 of 17 (permalink) Old 09-26-2009, 08:29 AM
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Heh, me too. Sure wish the .45 on each hip held a few more rounds...
Carbine with 30 rd clips?

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #16 of 17 (permalink) Old 09-26-2009, 01:59 PM Thread Starter
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I cannot post anything further. Again, this is not my intellectual property. As mentioned before this was from one of my professors. He did give me approval to post the outline, but didn't really want the speech or paper posted. I know he always finishes these speeches with what I bolded...just some of his thoughts.
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post #17 of 17 (permalink) Old 09-26-2009, 09:58 PM
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Carbine with 30 rd clips?
Check!
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