I saw that yesterday. I knew GM sold a lot of cars to China but I didn't realize it was this deep :shock:
Buicks are everywhere in China! Honestly I'd rather that GM cars are sold in China than Chinese cars sold in the US. -BC
China has systematically destroyed the US manufacturing and purchasing power over the last 20 years. It began with the textile industry, and later moved to shoes, light goods, and now electronics and heavy durable goods. Cheap labor and intellectual property theft were key factors. Their currency manipulation has driven every other competitor out of business, and now the growth of their middle class has become their target market. I hear Buicks are highly sought by CCP officials. They're not getting mine.
You also have to remember that all of the taxpayer money was a loan. Which since has been paid back. Did Bank of America have to pay back the 700 Billion that was Given to them by the taxpayers? Why did the Manufacturers have to get loans and the Banks and Brokerage House get free Bailout money, plus keep your house they took from you. If you paid taxes you paid them to take your house away from you. PONCH
Gm has paid little of the money back.How can they pay it back when you have earned far less than the debt amount
Thanks for posting this---it raised my blood pressure another 20 points. After the way the government intervened with GM and Chrysler, I will never buy a new vehicle from either. Well, maybe I will, depending on how they are restructered the next time they fail, and there will be a next time. John
I thought I had read where they had paid it back since they were profitable again. I must be thinking about something different. Wrong, And Sorry. PONCH
Actually, the banks have been paying back the 700 Billion in TARP money...we're a couple hundred billion short to date. Some banks have paid it all back, others are making progress. The point is the politicians and corporations have sold the USA middle class out. Once the middle class disappears for good here, the CCP will use the USA as their own private country club. They're buying up USA property and assets at a maddening clip. There will be nothing but a ruling class, and a servant class, just like Indonesia.
People get confused over the GM issue. They took out loans to keep them afloat and the government bought up a bunch of their stock to help them get those loans and also to bolster their stock price. GM has since paid back the entire loan amount and is free and clear on that end, but the government still owns about 50% of the company. Basically the government owns 50% of GM the same way that Venezuela owns 50% of Citgo. The difference is we call the GM deal patriotism since it helps keep an american company going, and we say that Citgo is a evil communist company since its owned by a foriegn government. On a funny side note, Citgo actually provides services to help americans in need, while GMAC tried to steal their houses and then changed their name to Ally to prevent backlash.
I really doubt that its paid back.If you owe $60 billion plus ?and over a couple years make 7.6 billion in 2011 and 4.6 billion in 2010 how did the 60 billion get paid back .Not enough time or profits have happened to make that possible .But the government is giving out the #s so expect BS at its best
Fixed that for ya. :dollar: talks. The rest of us walks. And I'd love to sell my Buick to some well-heeled Chinese dude...RARE '68 California GS, with special high performance 5L SBC ou:, nearly one of a kind...$50k. :Brow:
I gotta agree. We're Both better off. She couldn't take my Mental Instability. I cant either really. I think I have replied to the message tho. GM is screwing everyone and the Middle class is taking it. I remember being at a meeting back in the '80s where our Plant Manager told us how they were going to "Grow The Business". GM was going to start building Century's in China and None of them will be shipped back here to sell. I raised my hand and asked why cant we build them here and send them over there? Logistics was the answer. A few Years later EVERY new construction job was halted no matter what stage it was in. We all wondered what was going on. Back to 40 Hrs a week and no weekend work. If we had to install something we had to dodge Production workers during the week. They were Growing The Business. They weren't growing it in Flint tho. They were growing it in China. Big bunch of layoff's and I was no longer a Tinsmith Gang Leader. Plants closed and the complex kept getting smaller. Now it's just a field of weeds. I try not to go by there. I was lucky to get 35 Years in and retire. But no, I'm not blaming the messenger, I just dont like the message. I dont think anyone does. And also a big thank's to the messenger for the info. But a far as Fox News goes, Conservatives should rule the World. IMHO.
I am fed up with most stuff made in China. Grant you, there are some quality built items, but the managers from outside of Com. China must REALLY be on top of the production and quality control guys. One amazingly detailed item I recently viewed was a water tank for an HO-scale model railroad; it was very detailed. It wasn't cheap, either! My wife wants a new gas grille. She wanted me to see the $180 Grillemaster from Lowe's. It turns out there are a quite a few bad reviews on it; poor construction, failing parts, etc. As I guessed, it's imported from China. Of course, I like to get a Weber......I'd like to by a new Mustang with cash, too! With regards to GM - sure, it's fine for them to make money in China. The ChiComs require local assembly, locally sourced parts, 50/50 (or close to that) ownership with the local "commisars"; there should be a way where some parts come from HERE, at minimum. God (or Mao) knows how many of the re-pop parts are in our musclecars! So let's say GM has payed back EVERYTHING (they haven't, in my opinion), but where are the US jobs? I know a few have been added, but the Canadian gov't got shafted and jobs have stayed in Canada; there has been and continues to be a MAJOR expansion in Mexico. What concessions did the Mexican government give for that? I don't spout off about these things because I am massively "pro-union" or anything like that; I am pro-Unites States of America, and I just have this sinking feeling that we are compromising ourselves with regards to economic and national security by having less and less built here.
The people that lead this country need to stop letting us look like a bunch of chumps to all these third world countrys.China requires items sold there to be made there.Wow if we did the same thing china would still be the backwards 3rd world counrty it always was not the up and comer king of the hill.Free trade should have been Fair trade isn't be a bitch to other countrys following their rules and letting them walk all over us.Its finding a way for everybody to prosper but I guess the word Free is getting abused like the word Pure has been around here.
