Jump to content
Objectivism Online Forum

Bailout Success Story: GM Posts $1.33 Billion Profit

Rate this topic


CapitalistSwine

Recommended Posts

Oh god, the liberal comments on the digg thread I found this on make me nauseous. Why I am I doubtful it is this simple??

Also, someone posted in the comments:

AND the gov't appointed CEO, Ed Whitaker, is stepping down at the end of next month.

http://digg.com/d31ZSiH

It sounds like GMs recovery has been quite successful. Another quarter like this and they should be able to start paying back the bailout money they borrowed, all $43 billion of it: http://www.forbes.com/2010/04/23/general-motors-economy-bailout-opinions-columnists-shikha-dalmia.html

http://digg.com/business_finance/BAILOUT_SUCCESS_STORY_GM_Posts_1_33_Billion_Profit

I am sure the liberals will think this a "great victory that repudiates the economic claims of the right"

They scuttled $67B in debt, closed about 1000 dealerships, laid off 30,000 workers, sold Hummer, Saturn, and Saab...and only turned a $1.3B profit ?!?!?!

Edited by CapitalistSwine
Link to comment
Share on other sites

The liberals will say many more jobs would have been destroyed if we let them fail. That is one of the main arguments for having bailed them out.

How did they measure these two amounts to conclude which was more utilitarian? We, on the other hand, can know that subsidies can only take a dollar out of the hand of someone who, by definition, had a better use for it before it was taken away from him, and redirect funds from the efficient to the inefficient. So we can conclude that taxpayers lose at least as much as GM gained via bailout, and no one can measure the jobs not brought into production due to withdrawing the funds from efficient use.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...