37 1 min 13 yrs

I SEE in his address to the Central Committee (no, me neither) Obama announced –

the “nation that invented the automobile cannot walk away from it.”

All the usual claptrap and nonsense of course, except, what is he talking about?

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37 thoughts on “Who Stopped Clapping First?

  1. Obama’s lost it. That’s almost as embarrassing as a Bushism. Not to mention the ludicrous thinking that because something was invented it needs a huge bail out behind it of this magnitude. If Americans wanted to buy their own cars and save those cars they would have. They bought Japanese shite and boosted their economy instead.

  2. ahh Pete you beat me to the post, I watched the Great Ones speach.

    The man is a great orator, he knows how to present a speach as well as Reagan.

    The big difference is Reagan spoke honest and straight and gave us direction and true hope.

    This phsycotic huckster talks of cutting defecits as he passes the largest unfunded spending bill in history.

    Another line he repeated was the defecit he inherited The number of that defecit was 435billion.

    In his first month he trippled that number with one bill of 1.2trillion dollars of defecit spending.

    he’s going to raise taxes on the top 2% to pay for it. What he doesn’t say is that top 2% already pay 85% of all taxes now collected and generate 90% of the nations wealth.

    To quote Hunter S ZThompson "were all doomed"

  3. "Reagan spoke honest and straight"

    "A few months ago I told the American people I did not trade arms for hostages. My heart and my best intentions still tell me that’s true, but the facts and the evidence tell me it is not."

  4. He’s gone mad. Carbon taxes in the face of a depression? Raising taxes on the rich instead of spuring investment? Lauding people giving away money instead of hiring workers? Bah and humbug!

  5. Obama-the-Smokeblower. King of the Strawman.

    America is buying cars, just not American cars.

    Detroit needs to make cars that people want to buy, for a price they want to pay.

  6. Most of the import sales are way down too incl mighty Toyota

    Who does not have the structural Medical Cost burdens that the US guys have

    Health care reform can play a big part in leveling the playing field on auto and any other manufacturing.

    The Canadians, Europeans and most other plants / companies simply do not have to deal with this issue –US employers do. In a world of international trade, this hands the competition a huge structural advantage.

  7. "America is buying cars, just not American cars. "

    That was true up to a few months ago but even the Japanese manufacturers are having problems now. Toyota recently announced their first annual losses in over 70 years, Honda have been cutting production worldwide.

    Unlike the "Big 3" though, their problems don’t pre date the economic difficulties and when the economy recovers so will they, whereas GM and Chrysler will still be in serious trouble.

  8. >>The Canadians, Europeans and most other plants / companies simply do not have to deal with this issue –US employers do. In a world of international trade, this hands the competition a huge structural advantage<<

    Not sure what you mean, Phantom?

    Non-wage labour costs in the US are much lower than in Europe? In Germany – US competitor in the automotive sector – employers in fact have to pay about twice as much (80% of direct wage costs) as manufacturers in the US.

    If the playing field is levelled, the US would suffer even more, I think.

  9. My understanding is that in Germany Health Care ( and retirement ) was not usually an employer responsibility, but a state responsibility

    These costs are crushing the big three, especially at a time of retrenchment when the revenue goes down but the obligations stay the same

  10. >>My understanding is that in Germany Health Care ( and retirement ) was not usually an employer responsibility, but a state responsibility<<

    It’s both. The employer, the state and the employee make contributions. Overall healthcare costs for the employer are somewhat higher in the States (I’ve heard), but employers in, say, Germany and France are still burdened significantly more as they also have to contribute to other social insurance funds that (I think) don’t figure in the US.

    Direct wage costs in the manufacturing industries are also on average higher in Europe. There is, however, a much wider spread in the US. The average is something like USD 25/hour in Germany, 21/h in the UK and 18/h in the US.

  11. Phantom,

    Where do you think the "state" gets the money from ?

    Clue : the word "employer" is in the answer …

    Put very basically, if a worker receives a wage of say 1000 euro per month "in his pocket", he will have cost his employer roughly 2000 eur per month. The difference going to the state for health insurance, pension, unemployment, etc etc … and "normal" taxes of course !

  12. I think our friend Obama was actually referring to the United States’ invention of mass production of cars, with the Model T as the prime example.

    Sloppy speech writing; is all.

  13. A decent speech, noting the gravity of the situation, but not succumbing to it, and the improtance of acting now rather than later.

  14. But the European employer I believe pays a tax / assessment – and that’s it.

    The US based employer, if he provides health care as part of a union contract, which the Big Three certainly do, has an unlimited liability.

    They are paying plenty for workers who retired in say 1995. The European guys do not have any such obligation – I believe.

    If Daimler Benz shark down to 100 employees for the sake of argument, they would be assessed health care tax on 100 employees I believe. If Ford USA shrank to 100 employees they would still bear the immense burden of retro care for tens or hundreds of thousands of employees from the past years.

    That’s where the US system kills big manufacturers, esp in a time of retrenchment. They can’t find a way to cut this cost, without agreement from the unions.

    The Euro approach is actually far more flexible in this one area.

    Jindal didn’t set the world on fire last night. Tough act for follow, but still.

  15. >>But the European employer I believe pays a tax / assessment – and that’s it.<<

    In Germany the contribution is 15% of gross wages, of which the employer and the employee each pay half.

    Overall, non-wage labour costs in Europe are significantly higher than in the States, in Germany about 50 p.c. higher. The fact is that many European and Japanese firms are highly competitive despite higher labour costs. And of course their workers enjoy more generous health, vacation, maternity and other benefits.

    In any case, I’m sure a large portion of the vehicles built by the "Big 3" are manufactured abroad. How do they compete when on these level playing fields?

  16. Noel: "How do they compete when on these level playing fields?"

    Good question.

    Someone should phone Obama-the-Great and tell him that the clock is ticking on his Presidential mandate.

  17. we are all going to buy the big 3s new govt mandated cars, they get 50mls to a gal are made out of aluminum foil and run on beeswax oooh I can’t wait.

    Just last week I baught a Hyundai Elantra

  18. also after such a great speech by the great one so far the stock market is tanking today, already losing 125pts and quickly heading to drop below the 7000 mark

  19. also after such a great speech by the great one so far the stock market is tanking today, already losing 125pts and quickly heading to drop below the 7000 mark

    It has bearly paused for breath since before the new year and the start of his tenure. There is still more deleveraging and unwinding to come. Infact some still say the worst has yet to come.

  20. Not suprisingly some people think a speech was intended to turn around an economic crisis all by itself.

  21. Blowing smoke just like Obama, Mahons?

    Who thinks the speech was intended to turn around the market by itself?

  22. Daytripper: true. The market started to tank when Obama was nominated. And it hasn’t stopped since.

    No Hope ‘n no change.

  23. Mahons: "stupid is as Patty does."

    Conceding the argument already? Calling me names already?

    Nobody thinks that Obama’s "speech was intended to turn around an economic crisis all by itself" — as you state in your 6:56.

    You’re blowing smoke just like Obama when he says that Americans are "walking away from the automobile."

    You hate it when you’re called out, don’t you.

  24. Patty – Actually I love it when you bray away because it reminds me how Obama was able to win.

  25. I am surprised he managed to get through the speech, with the number of applauses and standing ovations after every sentence he uttered . Why does the House always do that when Presidents or other dignatories address them. The occasional cheering clap and a single ovation at the end should suffice.

  26. Daytripper: true. The market started to tank when Obama was nominated. And it hasn’t stopped since.

    Maybe we should analyse the effects he has had on the markets since his birth too.

    Patty cause and effect is out of his realm of understanding

    Such cause and effect will hopefully always remain outside my realm of understanding. Obamas Existence=Economic Collapse is up there with ….. actually I cant think of anything more ridiculous at the moment.

    *searches for Margarita ingredients*

  27. Noel

    Depends on the market.

    Last time I looked ( pre the last couple of months ) , GM’s Opel was doing well, and GM’s Buick operation in China was doing very well indeed.

    They’ve always made money in Latin America, but recently have faced problems from very low cost competition from Chinese manufacturers.

  28. that’s because you have shown us all you can’t think tripper, and each comment only reinforces that fact

  29. that’s because you have shown us all you can’t think tripper, and each comment only reinforces that fact

    Praise Allah for codeine.

  30. Colm 8:26

    The fake-enthusiastic cheering at State of the Union and other presidential speeches is indeed depressing.

    I’d have loved it if he had stared down the mob of corrupt imbeciles, told them that this was serious business, and that they should shut up until he was finished

    His approval rating would have reached 100% if he’d have done that.

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