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Thread: GM goes bankrupt and gets nationalised

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by Slippery Slope View Post
    Why are tariffs bad? Please explain.
    They raise the cost of a product to the consumer.

    They provide a shelter for a small politically influential group at the economic cost to the rest of the population.

    They don't work.

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by winston53660 View Post
    Just curious did any body around here own GM stock?
    Not me, I got screwed buying airline stock; that was enough to keep me away from airline stocks, retail stocks, restaurant stocks and manufacturing stocks.

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by Truth Detector View Post
    Not me, I got screwed buying airline stock; that was enough to keep me away from airline stocks, retail stocks, restaurant stocks and manufacturing stocks.
    Oh I know some guys that made a mint on airline stocks when oil was dropping. I even did pretty good on some quick trades with GM.

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by winston53660 View Post
    Just curious did any body around here own GM stock?
    I just sold all my GM shares, although if it dips back to the mid .50's i would be very interested. The taxation capabilities of holding majority stake in GMGMQ is worth more than a billion dollars.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by winston53660 View Post
    Just curious did any body around here own GM stock?
    I bought some Ford stock at about 1.90, sold it at 3. something. Huge mistake. It went up to 8 the next few days. I would have made a huge profit.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by Goldenboy219 View Post
    I just sold all my GM shares, although if it dips back to the mid .50's i would be very interested. The taxation capabilities of holding majority stake in GMGMQ is worth more than a billion dollars.
    Yeah I got totally outa GM then made some quick trade the last day they were in the in the DJIA. Down to .58 up to .74 I think it was.

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by winston53660 View Post
    Oh I know some guys that made a mint on airline stocks when oil was dropping. I even did pretty good on some quick trades with GM.
    I bought a bunch of United Stock after 9-11; they screwed their shareholders by declaring the common stock worthless then re-issued a new common stock.

    I did make some money selling off my American stock though.

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by winston53660 View Post
    Yeah I got totally outa GM then made some quick trade the last day they were in the in the DJIA. Down to .58 up to .74 I think it was.
    Should have held man, i believe its worth about 2.50 a share by the June 20th calls. Sold it today @ 1.71
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by phattonez View Post
    I didn't say insufficient, I said inefficient. The most profitable sectors are the ones that should have the most money. By giving money to other sectors, you're hindering the growth of the best by propping up the worst.
    Sorry, I meant inefficient buy typed insufficient. But Tariffs do not take money from one sector and give it to another. Tariffs raise the cost of imports to deal with governments that artificially devalue their currency and protect internal jobs. So if we put a tariff on, say, radios from japan to make them cost the same as radios made in America then the consumer can choose between quality instead of price AND you employ Americans. Without the tariff the japanese radio is cheaper and not necessarily better.

    Japan subsidizes its car industry right?
    I'm glad you agree.

    Well to get the money to subsidize it, other companies must cover that in taxes. Other companies lose money while the car industries gain money. Hence it hurts the other sectors. There is NO WAY to avoid that. Loans, inflation, etc. They will all hurt the other sectors.
    Wrong. The people of japan are taxed to cover for the subsidies. This has little to do with the USA outside of the artificially lower cost for the japanese product.

    This is why we don't have to worry about other countries subsidizing industries. It will all be even in the end.
    You're wrong, other countries do subsidize their industries creating an artificially lower cost product which puts US companies at a disadvantage.

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    Re: GM goes bankrupt and gets nationalised

    Quote Originally Posted by Slippery Slope View Post
    Sorry, I meant inefficient buy typed insufficient. But Tariffs do not take money from one sector and give it to another. Tariffs raise the cost of imports to deal with governments that artificially devalue their currency and protect internal jobs. So if we put a tariff on, say, radios from japan to make them cost the same as radios made in America then the consumer can choose between quality instead of price AND you employ Americans. Without the tariff the japanese radio is cheaper and not necessarily better.
    I didn't say that tariffs take money from one industry and put it to another. Subsidization does that, but not tariffs. But what tariffs do is destroy any incentive for American corporations to be as good as foreign competition.

    Wrong. The people of japan are taxed to cover for the subsidies. This has little to do with the USA outside of the artificially lower cost for the japanese product.
    They'll have less disposable income. It's the same effect. The money is used for the car companies, so they have less money to buy goods from the other industries.

    You're wrong, other countries do subsidize their industries creating an artificially lower cost product which puts US companies at a disadvantage.
    But other industries will have an advantage.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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