GMAC resumes Truck and Automobile Lending to assist GM sales »
Posted By altnrg 7 months ago in News
The decision of GMAC Financial Services to resume its truck and automobile lending to subprime loan borrowers and reduce inventory financing costs is expected to boost General Motors Corp. sales and prevent government foreclosures.
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FrankHummel7 months ago
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To the legion of "good" people who now profess to be so anxious and who dither endlessly about the ballooning national debt, and "creeping (galloping?) Socialism" and the whole pattern of governmental "meddling" in the supposedly "Free Market" economy:
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This country HAS INDEED been LOOTED --- but it hasn't been OBAMA who is guilty of THAT! HE hasn't even BEEN AROUND LONG ENOUGH to have POSSIBLY been guilty of that! The claque who ACTUALLY bear the burden of that guilt go back MUCH FARTHER than just HIM --- and in any case includes MANY more perpetrators than just mere “POLITICIANS”! I submit the crowd that now attempts to lay blame off onto a new generation of leadership/stewardship are REALLY trying to EXPIATE THEIR OWN GUILT!
For instance, most people now seem to enerally presume that since the whole "economic breakdown" first "APPEARED" in "our" marvelous FINANCIAL "sector" (and specifically, REAL ESTATE), that THAT must necessarily have been the underlying CAUSE of it all. I submit, though, that the REALITY is THIS: "Our" FINANCIAL system really has NOT been the actual SOURCE of the fiscal problems for which it is now being "hung out to dry". Rather, it has simply been USED. And YES, it certainly HAS incurred a BURDEN OF COMPLICITY IN --- but NOT really the PRIMARY RESPONSIBILITY FOR --- the much LARGER misdirection of resources and capacities of this society as a whole.
What has been done by mere financial technical MINIONS (e.g. all those moneylenders who conjured up and “marketed” those "toxic assets") had as its REAL objective (regardless of whether the fact was THEN or is even NOW consciously recognized by those who "played the game") of DELAYING and STAVING OFF the economic collapse that has now occurred --- in effect "passing the buck" off to the NEXT generation of "leadership/stewardship", and precluding the public outrage that rightfully SHOULD have rebounded in a much more TIMELY fashion on the "political faction" that has been so hell-bent on clinging to "our" little "financial" OIL EMPIRE for a bit longer. And THAT in preference to actually getting SERIOUS about IMPLEMENTING the technological alternatives to ACTUALLY WEAN "OUR"SELVES OFF OF "OUR" ADDICTIVE DEPENDENCY ON OTHER PEOPLES' OIL!
To make matters even much WORSE, such technological alternatives ALREADY DO INDEED EXIST, and have LONG EXISTED --- CONTRARY to the notion that seems to be propagandistically cultivated among the HUGELY techologically IGNORANT preponderance of most of the "body politic", which has been perpetually beguiled into believing that meaningful change is predicated on hypothetical "exotic, futuristic" NEW developments in “the laboratory” over, say, the next fifty years or so.-
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FrankHummel7 months ago
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But the TRUTH of the matter is that by the application of very OLD technological concepts --- applying to the mere AUTOMOBILE things worked out MANY YEARS AGO NOW ALREADY in much HEAVIER-DUTY systems --- "we" could LONG AGO now already have EASILY flat-out ELIMINATED about THREE-FOURTHS of all that importation of oil to refine into gasoline to fuel "our" automotive vehicular fleet --- had “we” but had the wit and the wisdom to do so!!
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Now however OUTRAGEOUS and OUTLANDISH that assertion may sound to many, make no mistake about it: PRECISELY THAT genuinely, simply IS the implication of the “new” ELECTRIC / I.C.E. "chimera" concept --- exemplified by the forthcoming (now highly BELATED) Chevy VOLT, and now also its Europen counterpart (jovially dubbed the AMPERE) --- involving BATTERY POWER carrying the car some number of miles (in the case of the VOLT, FORTY), with an internal combustion engine then kicking in if (and only if) that battery runs down. But FULLY THREE-FOURTHS of all personal automobile usage "fits" within a forty-mile power budget! You go to the store, bank, doctor, etc., and you come back home AND PLUG THE CAR BACK INTO THE WALL. MOST OF THE TIME THE INTERNAL COMBUSTION ENGINE NEVER RUNS!
Actually, BOTH components of the "chimera" are VERY OLD technology. ELECTRIC cars have been around since the EARLIEST days of the automobile. And the I.C.E "fallback" component, which involves a petroleum-powered engine that is coupled NOT to an eleborate, troublesome, expensive TRANSMISSION and DRIVE TRAIN but rather to a GENERATOR that supplies ELECTRIC drive motors (that HAD been driven by the BATTERY until it ran down) --- is a paradigm implemented on a MUCH larger scale on the RAILROADS and also in the LARGEST SHIPS on the high seas. (Anybody ever hear of the DIESEL-ELECTRIC LOCOMOTIVE??) The truth is that really BIG-MUSCLE machines have LONG relied on relatively simple, UNbreakable MAGNETIC-FORCE drive elements rather than on more complex, fallible MECHANICAL ones --- because “we” simply couldn’t BEGIN to engineer a CLUTCH for really HEAVY loads!
I submit that all the folks who now dither and blather about the "meltdown" of the "financial sector" are in reality BEING DIVERTED AWAY from what SHOULD be the MAIN object of their exasperation --- which is REALLY the FAILURE of "our" PAST MISguided (or maybe more like MISBEGOTTEN!) MIS"leadership" to fulfill its ACTUAL duties and responsibilities to the membership of this society --- which WOULD have been to OPTIMIZE BOTH THE CHARACTER AND THE QUALITY OF "OUR" PRODUCTS, RATHER THAN MERELY MAXIMIZING "THEIR" MONEY!
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