General Motors - Never Again!

[Dusty Britches]

This made my blood boil.

In 2007 the US taxpayer bailed out GM to the tune of $80 BILLION. Since then, they have moved 70% of their manufacturing to China. They have partenered with the communist party there to give them their state of the art technology and used their Cadillac division to sponsor / fund a propaganda film "Birth of a Party" which extols the "virtues" of communism.

Here's the 10 minutes video.

https://www.youtube.com/embed/Lvl5Gan69Wo

btw - we didn't vote on that bailout, but then President Obama's congress pushed it through.

[tps7742]

Remember by American with GM.

[lovemylegacy]

This made my blood boil.

In 2007 the US taxpayer bailed out GM to the tune of $80 BILLION. Since then, they have moved 70% of their manufacturing to China. They have partenered with the communist party there to give them their state of the art technology and used their Cadillac division to sponsor / fund a propaganda film "Birth of a Party" which extols the "virtues" of communism.

Here's the 10 minutes video.

https://www.youtube.com/embed/Lvl5Gan69Wo

btw - we didn't vote on that bailout, but then President Obama's congress pushed it through.

Hmmmm, I didn't know this.

[Rick]

Hmmmm, I didn't know this.

It has to be true. You cant post on youtube unless the content is verified....

[TX_Kevin]

It has to be true. You cant post on youtube unless the content is verified....

Take ten seconds to do a little research and then see if you feel the same way. There is plenty of data out there confirming the content there comrade.

[Landrover]

Sadly the majority on TBH were in favor also of the auto industry bailout. Heck, futhermore in favor of bailing out banks.[emoji2962] Quite shocking honestly. I doubt this video will make a dent as everything we buy is made somewhere else and nobody beats an eye.[emoji102]

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[Phillip Fields]

Ford has 6 plants in China.

[67olds442]

They are the most reliable vehicle out there.

[glen]

I should have invested heavy in them. Another missed opportunity

[meltingfeather]

btw - we didn't vote on that bailout, but then President Obama's congress pushed it through.

Since Obama didn't become president until 2009, are you suggesting it was "his" congress meaning he ran it or had something directly to do with the bailout, or are you just short on history?

[HogHunter34]

So it sounds taxpayers funded the capital to invest in China. Crazy thing is GM threatened idiling US plants over Trumps tariff plans with China trade. I thought the incentive was to encourage US manufacturing. Maybe GMs playing hard ball

[WItoTX]

It has to be true. You cant post on youtube unless the content is verified....

Second this. a 10 minute video isn't going to cover the intricacies of deals, and certainly isn't going to offer any counter opinion. For example, the rising cost of wages in America that drive up the cost of a car.

Fact is the market is far more integrated across the world, but most people just want a quick one liner to tell their friends. China bad, Russia bad, etc...with no discussion of context of deals, or how any other market competitors compare.

[softpoint]

Quit GM when the bailout happened.

[Dusty Britches]

Since Obama didn't become president until 2009, are you suggesting it was "his" congress meaning he ran it or had something directly to do with the bailout, or are you just short on history?

I'm sorry, you are correct that Obama didn't become president until January 2008. I was wrong when I said 2007. The bail outs started in December 2008. Auto Industry Bailout

The U.S. government’s $80.7 billion bailout of the auto industry lasted from December 2008 to December 2014. The U.S. Department of the Treasury used funds from the Troubled Asset Relief Program. In the end, taxpayers lost $10.2 billion.

The Big Three automakers asked Congress for help similar to the bank bailout. They warned that General Motors Company and Chrysler LLC faced bankruptcy and the loss of 1 million jobs.


The Ford Motor Company didn't need the funds since it had already cut costs. But it asked to be included so it wouldn't suffer by competing with subsidized companies.

The Treasury Department lent money and bought stock ownership in GM and Chrysler. It provided incentives to spur new car purchases. In effect, the government nationalized GM and Chrysler just as it did Fannie Mae, Freddie Mac, and the American International Group.

[Drycreek3189]

I quit GM when two different trucks gave me nothing but trouble. I don't like that things I use are made in China, Mexico, or other ****hole countries, but it is what it is. If you use game cams, TVs, radios, etc. you are supporting China. What are you gonna do about it ?