The American auto worker, sold out again...

...The top-heavy US auto industry has imploded...

...thousands of auto workers are now jobless across the US...

...but the Government bailed them out, and now GM is really "Government Motors"...

...the government bought out/bailed out (whatever!) GM using borrowed money, largely from China...

...this money will presumably be paid back from future taxes...

...and I'm watching the news the other day, and I see this blurb in the crawler...

..."GM to expand China operations"...

..it wasn't big news, just an *itty bitty* blurb in the crawler...

...after looking into it, I find that GM is sinking billions upon billions into new plants and other expansion deals in China...

So, in summation...China has loaned our government (fabricated) money, which they used to buy GM, which we're going to have to pay back for years to come. GM in turn gets to dodge billions in legitimate debt to American debtors via bankruptcy. These debtors' companies now fold, as they can't operate without being paid. Thousands more Americans lose their jobs, in addition to those already jettisoned by GM. GM in turn takes this government money (originating from China and payable by the American taxpayer) and invests it back in China.

That's right America, you just got hosed. We're now going to be paying China for years, for the privilege of giving them our jobs, on an industry wide scale. Cute. Real cute.

You would think that, being Americans, we would see this and the people who sold us out would hang, but no. The MSM distracts us with health care, swine flu, and partisan banter while our livelihoods are yanked from under us and given away to a relatively hostile foreign nation at our expense.

GM could have just as easily used all these idle plants here in the US to make those cars, put America back to work, put a big dent in the recession, and still sold the same number of cars in China, but no. Instead the jobs go to China and the US taxpayer (who now has no job) is somehow going to have to pay for it.

Am I the only one who sees this as more than a little bit wrong?!

Reply to post by Q

This is very wrong, though it doesn't suprise me. Then the government still has the nerve, to fly the chinese flag at the WH.


Posted Via ATS Mobile: m.abovetopsecret.com

Yeah China used the one thing that can absolutely be counted on when dealing with American 'leaders' and that's greed. Give them something shiny or put a nice number in their bank account and they couldn't care less about their constituents or tomorrow. It sucks.

reply to post by Q


What troubles me most is that the Administration, the legislature, and the judiciary, were supremely happy with this as a 'solution.' In fact, as the Chinese-Tibetan conflict simmered and and we became preoccupied with other matters, our Secretary of State made an official visit to China proclaiming how "Human rights will not interfere with progress."

Meanwhile our bankers booked all the Chinese debt for themselves (yes, we still pay for it - at least three ways to Sunday) leaving the dregs for the Automobile industry. Many laws were broken, many improprieties were overlooked in the name of the crisis (which the banking cartel fabricated in the first place) so that the American automobile industry could be 'saved' (but for whom?).

I think your angst is well-placed.

reply to post by Q


So? It's all just desserts for UAW members. Besides, they can draw unemployment for 48 weeks, then they get paid by the Job Bank. What a deal!

reply to post by SpacePunk


I'm no union proponent to say the least...their sticky paws were all up in the deal. UAW getting such a big share of GM's carcass will testify to that. (Note that we're going to have to pay to give them that also.)

However, there are thousands of non-union workers who are jobless as a result of this fiasco just the same. They're the ones who are really suffering.

This is just commercial logic and I am surprised that people don’t see it! GM and the US motor industry is broke. For them to have any future at all they have to expand into other markets and where better than China and the Far East generally, where car ownership will rise alongside the rise in living standards.

If GM is to survive and become profitable then they just need to do what every other company is doing – working in the new marketplace.

Regards

The more I look around my town, the more I see a service oriented industry. We have lost about at least 3/4 of our manufacturing jobs. And the ones that remain are on very shaky grounds.

What I want to know is where are we going to get the products if we are a service industry?

I have nothing against a service industry, but I do miss seeing the made in the US tag. Many manufacturing jobs paid real wages with real benefits? Many families fed and housed their families off these type of jobs.

GM is a good example of how we are losing out on creating manufacturing jobs here?

Politicians have been saying for years that jobs moving overseas will only make us more competitive in the future. How can it make us more competitive if we have nothing to compete with.

I recall reading an article about our US ,military.Pretty much said that some of the equipment of theirs is so old that they cannot get parts from the US. They have to depend on other countries to provide them with the parts.

This is not all Obama's doing. This has been building for some time and I have yet to see an administration attempt to turn it around.

And yes we Americans are also to blame for this mess.

We've systematically given our industries away.

Textiles? Nope.

Electronics? Nope.

Food? Uh-uh (and that's scary!)

Computers? Guess again.

Autos are going bye-bye as we watch.

Is the fate of the US to be the service industry for the rest of the world? To flip their collective burgers on a global scale, so to speak?

We've already hit the tipping point--we've outsourced so many jobs and industries that we don't have the resources ourselves to actually BUY all of these things that we've outsourced. It doesn't matter if you can get something for half the price if you don't have any money.