So now it's down to Legacy Costs
The Auto bailout fiasco continues. Watching a bit of it and making my mind up pretty qyickly, isn't that what all you you do? I quickly decide that the reason the gap between the new guys and the old guys is the "Legacy Cost". But what to do with them. It appears that the elites, bankers and government will want to ditch them. But how can they politically put the boots to the pensioners that will be the next challenge. An orderly transition will do the same thing that always gets done when bankrupts fail to pay their bills. The banks move in, get their money and the rest of the creditors, usually people deserving severance and pensions get tossed over board. It looks bleak and if the government has to pick up the pieces and pay pensions how much will it cost the rest of us.
Besides how come the simple alternatives are never considered? For example we may have all received this email
This was an article from the St. Petersburg Times Newspaper on Sunday. The Business Section asked readers for ideas on "How Would You Fix the Economy?"
I thought this was the BEST idea. I think this guy nailed it!
Dear Mr.President,
Patriotic retirement:There are about 40 million people over 50 in the work force; pay them $1 million a piece severance with stipulations:
1) They leave their jobs. Forty million job openings - Unemployment fixed.
2) They buy NEW American cars. Forty million cars ordered - Auto Industry fixed.
3) They either buy a house or pay off their mortgage- Housing Crisis fixed.
All this and it's still cheaper than the "bailout".
Besides how come the simple alternatives are never considered? For example we may have all received this email
This was an article from the St. Petersburg Times Newspaper on Sunday. The Business Section asked readers for ideas on "How Would You Fix the Economy?"
I thought this was the BEST idea. I think this guy nailed it!
Dear Mr.President,
Patriotic retirement:There are about 40 million people over 50 in the work force; pay them $1 million a piece severance with stipulations:
1) They leave their jobs. Forty million job openings - Unemployment fixed.
2) They buy NEW American cars. Forty million cars ordered - Auto Industry fixed.
3) They either buy a house or pay off their mortgage- Housing Crisis fixed.
All this and it's still cheaper than the "bailout".
2 comments:
Brilliant. I agree wholeheartedly. Plus, it's guaranteed to work, and the boomers retire with some re-coup in savings.
That will cost $40,000,000,000,000
(trillion). Is that cheaper than the bailout?
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