GM Volt Forum banner

1 - 14 of 14 Posts

·
Registered
Joined
·
1,542 Posts
Discussion Starter #1
Chevy Volt to blame for Fiscal Cliff??! Another misinformed "intellectual"...

Anyone care to kindly correct Mr. Sutton (MBA) about his misstatements in his comments section?

I do hope he puts more research and intellectual effort into developing his investment advice than he did for his slander of the Volt...

http://etfdailynews.com/2012/12/11/fiscal-cliff-a-three-ring-circus/

"Few seem to care that the government is borrowing 46 cents of every dollar it spends. Few see that as a problem.

These same people see the government as the most efficient allocator of resources, rather than the marketplace. These folks believe that government, not the marketplace, should control the factors of production. Their philosophy is embodied in the failure of the Chevy Volt. Nationalize a company, force it to produce something that almost nobody wants, lose a ton of money on the deal, then have the government buy up all the excess to make it seem like it was a good idea to start with. People, this philosophy has a name {link to definition of "socialism"}. And no, it has nothing to do with little red men sneaking around looking for nuclear missile silos either.

Which brings us full circle with the point of the last several columns. This is a moral problem – or a lack of a moral compass – whichever you prefer. It is the perpetuation of the ideology that you can spend what you didn’t earn, consume when you didn’t produce and, in general, derive your own sustenance from the sweat of another’s brow. The fact that roughly half the country now identifies with the above ideology is the real cliff, not the fiasco that is the Fiscal Cliff Follies show."
 

·
Registered
Joined
·
1,542 Posts
Discussion Starter #4
my comment to Mr. Sutton

"Mr. Sutton:
I would like to correct some misinformation used in drawing your conclusions, specifically: “…philosophy is embodied in the failure of the Chevy Volt. Nationalize a company, force it to produce something that almost nobody wants…”
The facts are that the Volt was developed between 2006 and 2008 by a Chevy R&D team lead by conservative GM Exec Bob Lutz. It was Bob idea to develop a vehicle that would reduce dependence on oil and thereby encourage great(er) economic and military security, and has nothing to do with “socialism” as you claim. The government did not “force” GM to produce the, Volt, it was GM’s idea and impetus. In fact, during the GM restructuring in 2009, the federal government request GM *discontinue* planned Volt production to save money, but GM insisted that the technology was key to it future market strategy and success, and they were able to convince the Feds as such. As far as the Volt being “something that almost nobody wants”, the Volt sold 7,671 in its first year (2011) and now already over 20,000 before the end of 2012 – more than many mainstream successful vehicles and creating a bright potential trend for 2013 sales and beyond. So clearly you are misinformed about the both the Volt’s origins and sales numbers."
 

·
Registered
Joined
·
367 Posts
It is the perpetuation of the ideology that you can spend what you didn’t earn, consume when you didn’t produce and, in general, derive your own sustenance from the sweat of another’s brow.
Doesn't that statement pretty well define how the federal government operates and has for as long as most people can remember?
 

·
Registered
Joined
·
309 Posts
Since wasteful gov't spending, and overspending in general has put us at the "cliff", I'd say the 15 billion we taxpayers lost on the GM experiment, did in fact contribute.
 

·
Registered
Joined
·
1,542 Posts
Discussion Starter #11
Since wasteful gov't spending, and overspending in general has put us at the "cliff", I'd say the 15 billion we taxpayers lost on the GM experiment, did in fact contribute.
First of all, if you read the article, that was not the (flawed) point. It was that a "socialist" hand-out mindset that was supposedly also instrumental in the creation of the Chevy Volt is the root evil cause of the fiscal cliff.

The 12.5 billion (not 15) "loss" on the GM bailout, not considering the benefits or conversely avoided negative effects, represents less than 0.1% of the current debt.

The largest single contributors to the mountain of debt are the two Bush era tax cuts that were "unpaid for" (ie no equivalent budget cuts were made to compensate for loss of revenue) and the two wars (also "unpaid")

To make a down-home analogy, this would be like you or I taking a lower paying job, then immediately buying a large ticket item with a credit card. Then two years later, before saving any money or paying down that first debt, taking an EVEN LOWER paying job, and buying yet ANOTHER large ticket item with a credit card. Compared to these, the GM bailout is a perhaps a eat out sit-down dinner with family (on the same credit càrd of course:))

Grover Norquist is smiling, because they not only, as desired, starved one "beast" (govt) they managed to feed two others at the same time. (Uber-wealthy and/or the military-industrial complex Eisenhower warned us about some 55 years ago)
 

·
Registered
Joined
·
293 Posts
Since wasteful gov't spending, and overspending in general has put us at the "cliff", I'd say the 15 billion we taxpayers lost on the GM experiment, did in fact contribute.
Okay, so if the gov't did nothing, all the businesses that were bailed out collapsed, how much would have been added to the debt through loss of tax revenue and unemployment/wefare? Would the markets be recovered already?

I hated the thought that this countries business leaders so overtly risked age old companies and got away with it, but the consequences would have been worse.
 

·
Registered
Joined
·
48 Posts
My friends think I have changed my spots and become a self righteous Vegan that believes in bigger government since I took the tax credits to buy this car, but that could not be further from the truth. I loves me a good steak! This car was not worth $40,000 to me as currently equipped, but I always said I would consider one if the price dropped to $30,000 (hence my ownership). Other than the hard as rock, butt numbing seats, (getting that fixed on Saturday at the local upholstery shop), this car is fun.
 

·
Registered
Joined
·
1,516 Posts
The "root cause" of the "Fiscal Cliff" was a created artifice by Congress. So now they get to look like heroes for averting an artificial crisis they created in the first place. It had nothing to do with the auto industry bail-out or with the Volt (what hogwash) or with any other government program, it was purely a political creation implemented by the idiots in Congress who would rather threaten each other than work together. Ideologues of all persuasions need to be slapped upside the head with a basic Civics lesson: the US form of government only works when all sides are willing to discuss, reach consensus and compromise. No one is supposed to get everything they want, they are supposed to compromise and follow a middle path. I hope they all lose their next elections to people more willing to put the Country's best interests ahead of their own or those of their deep-pockets supporters.
 
1 - 14 of 14 Posts
Top