Govt Sells Last of it's GM Shares

http://www.usatoday.com/story/money/cars/2013/12/09/government-treasury-gm-general-motors-tarp-bailout-exit-sale/3925515/

The taxpayer loss on the GM bailout finishes at $10.5 billion. The Treasury department said it recovered $39 billion from selling its GM stock,and had put $49.5 billion of taxpayer money directly into the GM bailout.

The total taxpayer bailout rises to $51 billion including another $1.5 billion Treasury put into programs to keep GM suppliers afloat and to make sure owners' warranties were honored,plus some into the old GMAC finance company that's now known as Ally -- separate from a much larger Ally bailout.

That $1.5 billion didn't go directly to GM,but was spent largely on its behalf.

The  company is currently sitting on 27 billion cash and is considering a divident.  Without even sophomoric economic analysis. all economist agree that the government saved many times the 10 billion dollar loss on the stock by saving the one million jobs and not paying the social cost for the loss of the same.

However,  in three years the taxes on the dividends and retained earnings alone without any other economic analysis will pay the 10 billion back, and reap benefits far into the future.  The government lost absolutely nothing in these bailouts and saved billions and billions of taxpayer dollars and averted an uncontrolled economic freefall..  The Germans have mastered government priority on manufacturing jobs and this bailout most certainly proved the wisdom of the policy.

PkrBum wrote:http://www.usatoday.com/story/money/cars/2013/12/09/government-treasury-gm-general-motors-tarp-bailout-exit-sale/3925515/

The taxpayer loss on the GM bailout finishes at $10.5 billion. The Treasury department said it recovered $39 billion from selling its GM stock,and had put $49.5 billion of taxpayer money directly into the GM bailout.

The total taxpayer bailout rises to $51 billion including another $1.5 billion Treasury put into programs to keep GM suppliers afloat and to make sure owners' warranties were honored,plus some into the old GMAC finance company that's now known as Ally -- separate from a much larger Ally bailout.

That $1.5 billion didn't go directly to GM,but was spent largely on its behalf.

how sad.

now where are all the anti coporate welfare people at? don't they have something to say about this corporate welfare loss?

Loss is gain... Up is down... Less is more... you know the rest.

And the "wisdom of policy" which seagoat so admires... is economic FASCISM.

http://mobile.reuters.com/article/idUSBRE95P1FZ20130626?irpc=932

MEXICO CITY (Reuters) - General Motors Co (GM.N) outlined plans on Wednesday for investing $691 million to expand its Mexican operations, including the previously unannounced expansion of its Toluca engine plant.

PkrBum wrote:Loss is gain... Up is down... Less is more... you know the rest.

And the "wisdom of policy" which seagoat so admires... is economic FASCISM.

http://mobile.reuters.com/article/idUSBRE95P1FZ20130626?irpc=932

MEXICO CITY (Reuters) - General Motors Co (GM.N) outlined plans on Wednesday for investing $691 million to expand its Mexican operations, including the previously unannounced expansion of its Toluca engine plant.

why cant we tax things coming into the country so that its not as profitable to make stuff outside the country like this?

I don't know tax laws regarding this, so help me out. is this bad juju?

Simplistic economic analysis by layman......oh boy.....The Chicago school is going to nominate somebody from this forum who knows up from down. Utter nonsense that there was a loss of one dollar when looking at the choice of bailout or no bailout. 10k per job subsidy, and golly gee Mr, Friedman.....how much does it cost society for 5 years to provide benefits for that family where a manufacturing job has been lost. Gee Adam Smith.....what do you think Florida pays per year in subsidy for a job........and then tell me about any money being lost.

http://www.eflorida.com/ContentSubpage.aspx?id=472

The answer is presently around $8,500 per year per unemployed person.

Read more: http://www.businessinsider.com/income-energy-and-the-cost-of-unemployment-2011-2#ixzz2n2561TzY

The taxpayers made about fourfold savings from the Auto bailout or about a net 30 billion dollars. In reality however, it was many times more than that because unemployment compensation is but one social cost.

2seaoat wrote:Simplistic economic analysis by layman......oh boy.....The Chicago school is going to nominate somebody from this forum who knows up from down.  Utter nonsense that there was a loss of one dollar when looking at the choice of bailout or no bailout.   10k per job subsidy, and golly gee Mr, Friedman.....how much does it cost society for 5 years to provide benefits for that family where a manufacturing job has been lost.   Gee Adam Smith.....what do you think Florida pays per year in subsidy for a job........and then tell me about any money being lost.

http://www.eflorida.com/ContentSubpage.aspx?id=472

The answer is presently around $8,500 per year per unemployed person.  

Read more: http://www.businessinsider.com/income-energy-and-the-cost-of-unemployment-2011-2#ixzz2n2561TzY

The taxpayers made about fourfold savings from the Auto bailout or about a net 30 billion dollars.   In reality however, it was many times more than that because unemployment compensation is but one social cost.

well we have you on the record for corporate welfare, individual welfare, so its safe to say you are a advocate of GOV control of all things to be saved.

I elect you the next president of south Africa LOL they are needing another communist to run the place....

Chrissy wrote:

PkrBum wrote:Loss is gain... Up is down... Less is more... you know the rest.

And the "wisdom of policy" which seagoat so admires... is economic FASCISM.

http://mobile.reuters.com/article/idUSBRE95P1FZ20130626?irpc=932

MEXICO CITY (Reuters) - General Motors Co (GM.N) outlined plans on Wednesday for investing $691 million to expand its Mexican operations, including the previously unannounced expansion of its Toluca engine plant.

why cant we tax things coming into the country so that its not as profitable to make stuff outside the country like this?

I don't know tax laws regarding this, so help me out. is this bad juju?

First we have the free trade agreements.  They prohibit trade barriers.

If we put a tax on the other nations product, they simply tax the items they import from us so their citizens won't or can't buy that product.

Also, suppose the U.S. puts a tax of $200.00 on each engine imported into the U.S.?  Who pays that $200.00 and what happens if they sell 10,000 fewer cars with that engine?

China is manipulating their currency so that our products are more expensive in China and theirs less expensive in our country.  The problem is that President Barack Hussein Obama won't do anything to resolve the problem.

If we raise the minimum wage, more young people are out of jobs and more jobs move to other countries.

If we raise the minimum wage, more young people are out of jobs and more jobs move to other countries.



I disagree. A person working retail at Wal Mart and in the food industry at Burger King are not going to see their jobs exported. Just the opposite. With a true gain in the median income, people will have more money to spend in our local economy which 70% of our GDP is driven by consumer demand. The trickle down theory which existed for thirty plus years argued that keeping the real dollar minimum wage at a constant destroyed jobs. All those theories have been utterly debunked. Increases in the minimum wage which restore equivalency to when we had a middle class adjusted for inflation will cost the 1% more dollars to operate Wal Mart, but the profits lowered will have less impact on our economy than the increased dollars available by people who are going to spend the same in the local economy.

I argued for thirty years that the minimum wage arbitrary increases were bad for America. I was wrong. It is hard to admit how wrong I was.

I was shocked to find that Harley Davidson leather is made in China.

If anything should be made in America you would think Harley Davidson leather jackets would be one of those items.