General Motors

[Clocker]

Originally Posted by reckless

If US companies are charged a 20-25 per cent tariff to import their products to China or the EU, and we charge a paltry 2-3 per cent of that in kind, how does the consumer benefit again? Cheaper prices? Ha. Sell that to the millions that lost their jobs over the past decades.

Yes, cheaper prices and more choices for the American consumer. Manufacturing output in this country is at an all time high. But we do it with a lot fewer workers, because American labor is too expensive. Over 85% of the manufacturing jobs lost in the last 10 years or so were eliminated by automation. All of the whining about jobs lost to trade deficits is about manufacturing jobs. Our economy has evolved from a production economy to a service economy. That's where the job growth is today. That's reality, and that isn't going to change because of Trump's tariffs.

These annual trade deficits have resulted in a very low savings rate, hourly wages flattening, out of control budget deficits, all thanks to these deficits.

Do you have any evidence for any of that? The savings rate is down because people are buying more stuff. It will go down even more if Trump's tariffs increase the cost of living. And what does the trade deficit have to do with the federal spending deficit? Trump was going to fix that, but the deficit got a lot bigger under his administration, and it had nothing to do with trade.

A trade deficit means a capital surplus. The dollars that Americans spend overseas come back as investment in this country. That investment creates jobs here. How many foreign auto makers now have plants in this country? How many jobs, in those plants and in supporting industries, were created? But here is some more reality. Foreign investment in the US has dropped significantly since Trump took office because of fear of trade wars and protectionist policies.

[Clocker]

Originally Posted by FantasticDan

This president did not lift 1 finger.

Not true. He got them all straightened out.

“I’m not happy about it,” Trump said to reporters as he left the White House on Monday to campaign in Mississippi. The president said he spoke with the CEO of General Motors Mary Barra about the news, specifying he was “very tough” with her.

“This country has done a lot for General Motors,” he said. “They better get back to Ohio and soon.”

https://www.breitbart.com/politics/2...es-production/

[Tom]

Originally Posted by barahona44

Let the excuses begin!!

It sure sounds like GM raised 1 finger to the American workers.
Trump did more than enough - it was the pure GREED of the GM a-holes that did this.

To GM -

[JustRalph]

Originally Posted by Tom

It sure sounds like GM raised 1 finger to the American workers.
Trump did more than enough - it was the pure GREED of the GM a-holes that did this.

To GM -

GM and the UAW are in bed together. Trump owes them nothing. ****-em !

GM left 5 plants in Mexico open.......bottom line

[ReplayRandall]

Originally Posted by JustRalph

GM and the UAW are in bed together. Trump owes them nothing. ****-em !

GM left 5 plants in Mexico open.......bottom line

To follow-up on GM's timing of these announced layoffs right before X-mas, let it be made clear that this company still owes the US Taxpayers $10 Billion, which still hasn't repaid from the huge Bailout of the Great Recession.....Got a feeling the Head Honchos at GM are going to brought out in the public spotlight soon, and it won't be pretty.....Real hardball is being played here.

[thaskalos]

Even with a slashed workforce, GM remains "too big to fail"...so, they've got nothing to worry about...IMO.

[PaceAdvantage]

Originally Posted by Clocker

Total nonsense. China is subsidizing American citizens with low prices for consumer goods, at the cost of Chinese workers. Trump and fan boys say that is not fair, we need to raise prices so that American companies can compete in selling low end pots and pans and such at higher prices, all at the expense of the American consumer.

Trump and fan boys forget that to compete with the Chinese, even at higher prices resulting from tariffs, American firms will be manufacturing with automated processes, not with American labor. Bottom line, Trump can't create new manufacturing jobs.

So wait...all those reports about rising manufacturing jobs since Trump took office...those are fake news?

Serious question.

[ReplayRandall]

Originally Posted by ReplayRandall

To follow-up on GM's timing of these announced layoffs right before X-mas, let it be made clear that this company still owes the US Taxpayers $10 Billion, which still hasn't repaid from the huge Bailout of the Great Recession.....Got a feeling the Head Honchos at GM are going to brought out in the public spotlight soon, and it won't be pretty.....Real hardball is being played here.

Trump Threatens to End GM Electric-Car Subsidies

https://www.msn.com/en-us/news/polit...cid=spartandhp

Told you that real hardball is being played here....Didn't take long.

https://thepoliticalinsider.com/trump-threatens-gm/

[Tom]

Good - we need our $10 billin back and NO ONE is too big to fail.
GM failing would probably be GOOD.

The many new smaller companies that would fill the void would probably be at least American. GM is not American. Hasn't been in a long time. We should put tariffs on ALL their cars sold here!

[lamboguy]

Originally Posted by ReplayRandall

Trump Threatens to End GM Electric-Car Subsidies

https://www.msn.com/en-us/news/polit...cid=spartandhp

Told you that real hardball is being played here....Didn't take long.

https://thepoliticalinsider.com/trump-threatens-gm/

he should, the CEO must be making about $9 million a year plus bonus and she fly's around in a private jet plus all the other perks.

[reckless]

GM could go to hell. The American worker and consumer will never forget, I assure you.

Once again, the worker gets it in the kisser because the GM suits who regularly screw up and make cars no one wants to buy.

[Clocker]

Originally Posted by PaceAdvantage

So wait...all those reports about rising manufacturing jobs since Trump took office...those are fake news?

Manufacturing jobs that existed 10 years ago and that were laid off during the recession started coming back in Obama's second term and that has continued into Trump's term. The growth has been good, but how long that can last given current fears of a recession is up in the air. But as we have seen, big industries like autos and steel aren't planning any expansion.

[JustRalph]

Originally Posted by reckless

GM could go to hell. The American worker and consumer will never forget, I assure you.

Once again, the worker gets it in the kisser because the GM suits who regularly screw up and make cars no one wants to buy.

Will sales plummet?

[onefast99]

Originally Posted by Tom

They got a big government bailout, then got tax breaks, now they turn around and screw the country. I said back in 2006 we should have let them go under.
Hope the UAW really stick it to them on this one.

They did get a bailout and even came to Washington in a private jet do you see anything right with that Tom?

[Clocker]

Trump says that GM's problems were caused by the Federal Reserve, and by the Fed Chairman that he, The Donald, appointed.

President Trump placed responsibility for recent stock market declines and this week’s General Motors plant closures and layoffs on the Federal Reserve during an interview Tuesday, shirking any personal blame for cracks in the economy and declaring that he is “not even a little bit happy” with his hand-selected central bank chairman.

In a wide-ranging and sometimes discordant 20-minute interview with The Washington Post, Trump complained at length about Federal Reserve Chairman Jerome H. “Jay” Powell, whom he nominated earlier this year. When asked about declines on Wall Street and GM’s announcement that it was laying off 15 percent of its workforce, Trump responded by criticizing higher interest rates and other Fed policies, though he insisted that he is not worried about a recession.

“I’m doing deals, and I’m not being accommodated by the Fed,” Trump said. “They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me.”

https://www.msn.com/g00/en-us/news/p...a=2&i10c.dv=17