Rebates for clunkers program

Only if I liked American made cars. You know, I talk all this shit about savin my country and payin extra taxes and yadda yadda but when it comes to helpin the big 3…I just can’t. THOSE CARS DON’T GOT AN ALIBI!!! Seriously, like my roommate and I sat and discussed what American made cars we’d get. We both agreed on the Cadillac (General Motors) CTS. I also threw in XLR and Escalade because honestly, come 10 years those cars will still look good. Everythin else is just uninspired and blah. And I guess that’s why I don’t support the rebates. Not because it just adds to the deficit (who cares, deficit shecifit to me) but because there aren’t any cars out there worth purchasing. Maybe a Challenger or Camero but you won’t get a rebate for that. Pontiacs are cars for women and Saturns are cars for people who don’t like cars but need to get around. The new Ford Taurus would be a good buy but I need somethin sportier. And Ford cars (outside of the GT) are about as sporty as that nerd in high school who got to skip P.E. because he had a “doctor’s note” for his asthma. This is the evil paradox that the Big 2 and 4 have to face which is “people don’t like our current cars but we won’t have money to build new cars until people start buyin our cars.” I’m hopin that the American auto industry goes out on a limb with the bailout money and creates somethin so spectacular that even I give up my imports for it. I really hope they think of somethin since I’m still holdin on to my worthless GM stock (I know I know tell me about it).

Warren Buffett on the economy

Warren Buffett’s discussion at a recent Berkshire Hathaway meeting made its way into an article for Fortune. I think it’s a pretty good read to get a feel of what the wealthiest man in the country thinks about the current economic state, the measures that have been taken, and what lies in store. It appears that the next thing Americans should worry about is inflation. Since taxes haven’t been raised, the value of the dollar is going to decrease. I’m no economics major, so I don’t know if this is a direct cause and effect, but Buffett makes it seem like it. If it is true then it appears that we we’re fucked either way. Me, I woulda went with higher taxes than inflation and deal with the fact it’s just gonna cost more to buy anything. At least with increased taxes, prices woulda stayed the same but I would have less money to spend. I can budget that shit tho and cut out things I don’t need. When inflation occurs, even the things you do need have been jacked up in price. Another thing he mentioned is that he thinks the government did a good job with the bailouts and the way the crisis was adverted. Now, I don’t know if he had anythin to gain directly (like if any of his holdings received funds from the bailout) but if the world’s wealthiest man says a meltdown was about to occur, I believe it. I was pretty sure myself that our economy was in pretty bad shape and that the AUTO (not so much the banks) bailout was needed. Too bad it looks like it didn’t really save Chrysler from goin under (in a sense).

Chrysler is worth saving too

Here a few numbers to chew on if Chrysler were to go under. Take this with a grain of salt because these estimates come from Chrysler so it may be inflated:


“According to the turnaround plan Chrysler has filed with the government, a liquidation would leave $20 billion in health care coverage for employees, retirees and its family unpaid, as well put $2 billion in annual pension payments at risk. The closing of its dealerships would cost 140,000 jobs.

Due to the domino effect that would create, Chrysler estimates 2 million to 3 million jobs would be lost nationwide within three years, reducing household income by $150 billion a year, and cutting tax collections by an average of nearly $40 billion a year.

With all that in mind, one expert said the best reason for the government to keep Chrysler alive is that the economy and industry are too weak right now to weather even a controlled shutdown. “


Hopefully they strike a deal with Fiat and pull some kinda magic trick outta their ass. And remember, this is Chrysler, the company that even I said “the hell with.” Imagine what the repercussions would be if General Motors went under. Chrysler is number 4 just barely ahead of Honda. GM is number 1. You do the math.

General Motor's new plan: Fire the CEO

General Motor’s CEO, Rick Wagoner, is expected to step down from his position before the government releases over additional funding. Both GM and Chrysler are expected to present a restructuring plan that will hopefully stimulate growth in the auto industry. The only thing that could save these guys is flying cars. I don’t know what they possibly could present as far as cars goes to the American public that would sway their interest. You know what I like about capitalism? It allows you to grow and make as much money as you can, then spend it on bad investments like Saab or Hummer. Seriously, what the fuck was GM thinkin when they bought those brands? When was Saab ever a cool car? It had ONE demographic and that was the university professor who thought he would stand out from the BMs and Mercs with an ugly hatchback. Correction, there was a second demographic. The college student whose parents bought them a car but they couldn’t afford a BMW or Merc.

AIG does the right thing

It appears that there is good sense with some of the executives at AIG. About $50 milli of the $165 in bonus money has been returned. Not all of the money will be recovered even if a bill or tax is imposed because some of the bonuses were paid out to people outside of the U.S. So now that we got the money back, now what? Can the American people get a bonus? We should get a performance bonus for not burning down the country. I’m still for the wiping away of private debts because I don’t see why lenders should get bailed out by the government with tax money and money from the tax payers! I read reports that our economy is gonna bottom out at the end of this year…whooohoo. Just when you thought things couldn’t get worse.

Barack doesn't work in the U.S. I guess

Another thing that bothers me with AIGate (oh, that’s all me, so when people start usin it, you know where you read it first!) is the Obama Administration. This nigga is startin to piss me off with his lack of knowledge. And by knowledge, I mean when he uses the excuse that he “didn’t know”. Let’s start from the beginning. It appears that in the stimulus package there was a part that said AIG would be allowed to use some of the bailout money to pay for bonuses. Actually, I’ll let Sen. Dodd explain since he wrote it in their (guess what state he represents):

For my international readers, when people get rich in the Northeast, they don’t live in New York because it’s too crowded. The super wealthy live in CT (Connecticut). Who would be looked at as super wealthy? A person who gets a million dollar bonus on top of his/her salary. So this was worked on in the Senate? And nobody went to Obama and his crew and said “hey, they are tryin to use some of the stimulus money to compensate bonuses.”? Bullshit. Even if no one came to him and told him, he still can’t play dumb with me. What the fuck did AIG do with the first payout from TARP? They sent people on vacations to resorts!!! HOW THE FUCK COULD YOU NOT SEE THIS COMING? When people started complain about AIG ill spending, I thought how is this “news”? Didn’t they do this months ago? Obama, stop listening to the white people around you. It will only result in your downfall. And I’m not havin ‘buyer’s remorse’. I selected Barack because I still believe he will do a better job than Bush...I mean McCain.

McCain represented Capitalism

If you didn’t think Obama was a socialist before…I mean really? He’s just gonna tell AIG what to do with their money? I wish a nigga would loan me some money then tell me what to do with it. I don’t care if the person that loaned me the money is the same person I put out of a home or created a loss of employment for them. They loaned me the money, now they should shut the fuck up and let me go shoppin with it. I worked HARD to fuck up your life savings and your retirement funds. I don’t give a fuck if your parents lived through the original Depression nor do I give a fuck if you fought in the Second World War. I don’t CARE if you took the smart route and decided to do long term investing so that you would have money when you retired unlike me who took other people’s money and put it on either ‘red’ or ‘black’. This is about ME and the 2 Gulfstream jets I own because I like to fly like regular people do, so I use my second plane for my “connecting flights.” And now this socialist President wants to take it all away from me. Fuck him!

Auto industry needs more money

Three MILLION people unemployed. Let me put this into perspective, as of 2007, Chicago had an estimated 2.8 million people. Houston had 2.2 million. Phoenix 1.5, San Diego 1.2, Detroit >100K. Imagine visiting a city and finding all its citizens unemployed. That’s pretty much what’s gonna happen. The auto industry is kinda spread out over the country (with dealerships and things like that), but the manufacturing is pretty much centralized and you are gonna have an area of people HURTING. We already have a fucked up society, I’d hate to see what would happen if 3 million people hit the bottom.

Barack thinks the economy is an NFL team

You know what I love about this country? The fact that when someone starts wylin out, I can vote in someone else!!! Like Barack for instance. Ok, I’m cool with cappin the salaries of CEOs receiving BAILOUT money…but why does this article make it seem like it’s somethin the government might do for ANY CEO? I call bullshit. Why on Earth would you want to limit how much money a person could make? I ain’t on no sports team. If I wanna pull in $1 milli a year for bloggin, then I should be able to pull in $1 milli. Of course I also remember that the news is created to scare people, not speak facts…so I’ll rest my nuts for now.

Obama may veto Congress

It looks like Obama is tryin to get gangsta with Congress even before he’s sworn in. Obama has threatened to veto a disapproval resolution if Congress doesn’t get onboard with releasing the remaining funds from TARP. I’m on the fence with this one. On one hand I’m still not cool with how the first $350 billi was spent. They rushed to get it passed and it barely stopped the economy from bottoming out. Now Obama is in a rush to get the remaining $350 pushed out…But some Democrats say that we shouldn’t let the fuck ups of the last administration make us hesitant on how Obama will spend the money. Regardless of how Obama spends the money (he could buy up Kanye’s album and make him the first government sponsored hip hop artist, and we know how ‘Ye likes to buy bullshit, his wardrobe alone would boost the economy), I pretty such we are in better shape or will be in better shape than if we elected another Republican. Seriously, if McCain won, slavery would probably be in his plans on stimulatin the economy. More people workin means more production right? And if you don’t have to pay them money would be saved. Plus the tax breaks for slave owners…yeah, I could see old ignorant white people justifyin now. Recessions make reasonable people into demanding pricks.

A new "stimulus package"

I don’t know if it’s a joke or not, I think it is. But Hustler publisher Larry Flynt and Girls Gone Wild CEO Joe Francis are proposing to ask Congress for a $5 billion bailout for the porn industry. LMAO. I guess I should get my papers together and see if the government will bail me out too, fuck it, the world needs me for entertainment. HAHAHAHA. Well, I hope their kidding because if they seriously plan on wastin time, it’s gonna piss me off. But from what I read the industry isn’t even in trouble. DVD sales are slidin off, but the web pages are rackin in the bucks. So that’s why I think it’s a joke. Those porn guys, I tell ya…

It's time for the old money to die...

Well well well, look who was right all along. Please don’t leave a comment sayin “I told you so”, you’ve already won (kinda) lol. Now that I know the real (well, it sounded good) reason why the income tax was created, I’ve finally figured out how to handle our debt situation. Destroy the Federal Reserve. If I could, I’d stop payin Income Tax since it’s not a law. I know what you’re thinkin, “then end up like Wesley Snipes.” That’s what I said to my brother and he laughed at me then told me to find what jail Wesley was in. That nigga ain’t in jail. My brother told me you can’t put anyone in jail because it’s not a law. I was determined to prove him wrong but the best I came up with was Wesley was released from jail (after a couple days) to go wrap up a film he was shooting in LONDON!!! It get’s better, he is currently shootin a new film in Asia or somethin. What the fuck man. They made all this big parade about bringin him to justice and he ain’t even in jail. It’s time to get a new form of government because this corrupt, economic slavery, freedom taking shit is startin to agitate me. In the meantime, Obama plans on embedding the stimulus package in our current checks by givin us tax breaks. So for singles the taxes will be reduced till you’ve accumulated $500 extra in your checks and for couples, $1000. Now if done that way, it could end up bein wack because then it just adds like $20 to your paycheck and that won’t really help people make any big purchases or pay off debt (which is impossible anyways with the system we have in places..sigh). But they are thinkin of alternatives. Oh and another thing I found out is why the government won’t buy up bad loans. Because people that were properly paying their loans will find it unfair for the government to bailout people who were living outside their means and may decide to stop payin their loans and wait for the government bail them out too. Ok fine, but the pay off student loans is still up for discussion.

Pointless polls

One thing I love about the American people is their blatant ignorance. Sometimes you just look at the decisions or thoughts they make and say what is goin on here. Take for instance a recent poll that was conducted by CNN. They called up about 1000 people and about 63% are ok with the auto bailout. EARLIER THIS SAME MONTH, 61% were against the bailout. Huh? Ok that really doesn’t irk me, because some people are slower than others. How bout this statistic: 70% would rather see them go bankrupt than receive addition assistance, but 66% wouldn’t buy a car from a company that went bankrupt. So basically if the bailout doesn’t work, the companies go bankrupt, then the doors are closed forever (or until a foreign company buys them which I already explained why it wouldn’t be a good idea). Because if the companies go bankrupt and try to restructure themselves, it will be a waste of money because nobody will buy their cars once they start up again. Maybe I should wait for next month’s poll, the number will probably make better sense…like I said, some are slower than others.

The economy is waiting

Hearin that the Japanese automakers wouldn’t buy out the Big 3 if they collapsed is depressing. Hearin that it could be automakers from China or India is downright scary. What do we get from China? Knock offs? Who wants a knock off Escalade? Call it a Fescalade. All (lame) jokes aside, the truth of the matter is they don’t want to see the Big 3 get knocked off because their sales are tied to our economy too. Their part suppliers go outta business too. The guy that owns 5 different dealerships, when he loses one the others hurt too and that hurts the Japanese automakers. This bailout is needed, but I feel Washington on not tryin to lose $16 billi like they did with Wall St. But stop bullshitin and get this thing passed.

Might as well give John his bonus

When it comes to investing, there is one rule all investor go by (at least the good ones): Never dump money into a company that is going bankrupt. All the politicians in the country and not one of them took an econ class? The U.S. government has lost $16 billi of the 700 meant to help bail out Wall St. I understand that you need to spend money to make money, but you don’t LOSE money to make money. What the fuck has the financial district done in two months to have already lost the 16? Mismanagement like a muthafucka. We need to do what everyone has said all along and put that money back in the consumer’s pockets in the form of erasing debt. Once I’m debt free, I will ball outta control. I will move into a new apt, I will buy a new car, I will shop till I drop. I pay back around $700/month in student loans. If I had $700 extra a month, I could easily split it in half and use the money to bump up my lifestyle. Stupid fuckin government. Where’s Change when you need it?

Big 3 needs help from Wall St

The mayor of Lansing, Michigan is blaming Wall St. for part of the Big 3’s troubles. I woulda embedded the video but CNNMoney doesn’t allow it, so click the link and check the video with the article. But he basically says that GM was in line to being successful, they had MotorTrend (or J.D. Associates) car of the year, the numbers were better than Toyota’s and then the recession hit. He also mentions how it’s unfair that Wall St. got bailed out no questions, but when it comes to the manufacturing industry (the blue collars) there are all these strings. I pretty much rock with him on a lot of his points, though he needs to hire Obama as his speech coach (talking fast like he was on crack lol). I think that it’s wack that the government is puttin these guys through the ringer when a bail out is inevitable. Just the other day when I was renting a car for work, I asked if the recession has really messed them up with people not traveling as much. The agent laughed and said that being in LA, there’s always a car accident and someone will always need a rental. What they are worried about is if GM goes under. Where will they get their cars from and who will service the old ones? I do blame Wall St for the auto industries issues (kinda) and think that some of their bailout money should be used to help the Big 3. But I do also remember a couple summers ago when the Big 3 was strugglin to sell their cars and had to give employee discounts to EVERYONE. The only time a company gives the customer the employee rates is when it’s Christmas or you need to get rid of some inventory. Still, we need to bail out the Big 3, otherwise we’ll see what Reganonomics really looks like.

Who is gonna make the cars when we can afford them?

Today the Big 3 auto manufacturers are meetin with Congress to get some moolah to help bail them out. They all sold their jets and are drivin to D.C. Ford’s CEO is doin it in a hybrid, lol. Humble pie is the worst kinda pie. Interestin fact, 6 outta 10 people don’t think we should bailout the auto industry. That’s a real shame because they are gonna get bailed out regardless. The only problem now is if the American people don’t have faith in the auto industry, they will never regain the market and make a profit. This will cause them to eventually file for bankruptcy. GM better come with some flyin cars pretty soon…Me personally, I never liked American cars. Oversized engines with lots of torque and no top speeds. Cheap materials for the interior and not many cool features. Maybe they should get bought out by another group. Could you imagine if the Volkswagen group owned Ford? Can you say V10 Gallardo engine in a Focus? HAHAHAHAHA. NOW THAT IS WORTH A BAILOUT!

God Bless America

Everyone is cryin bout the recession hittin hard. I say, you right. It does suck. My money ain’t worth shit around the world. But the strippers still take it. So fuck all the worrying. Unless you lost your job or work in an industry that is cutting back on jobs (heads turn over to Wall St.) then ride this bitch out like dem boyz in Louie-si-ana (tried to add a southern drawl) do a hurricane. I just bought me a new shirt from Express today and a new cologne from Macy’s. Because if I’ma go out, then I’ma go out in style bitches! And regardless of what people say about how our economy or country is in shambles…we ain’t got shit on the overall state of China:

I mean damn. She gave her child away AND she sellin her titty milk? Damn. I can’t wrap my head around it…I would wrap my lips around her nipples tho. What? I’m thirsty damn it! Lmao.

And this is exactly what I was talkin bout yesterday (not sure if it was a Rant or on someone’s Facebook note), but fuck bailing out the banks. BAIL ME OUT!!!

O, and Bush has somethin to say.