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Breaking news--no cars to be manufactured in 2009

notwilightnotwilight Posts: 12,864 ✭✭✭
in Precious Metals
We know that's not correct but the prices of platinum and palladium are acting like that's the case. I think they're throwing the baby out with the bathwater. --Jerry

Comments

  • DeepCoinDeepCoin Posts: 2,781 ✭✭✭
    If you look at the five year pricing on platinum, you will see that we are slightly below where it traded for a long time. I wish my portfolio were the same as it was 3 years ago, versus the beating it has taken in the last 14 months. I think platinum will go up, but $2200 was just crazy. 900 in a year or so seems more realistic for bullion IMHO.
    Retired United States Mint guy, now working on an Everyman Type Set.
  • CertifiedGoldCoinsCertifiedGoldCoins Posts: 1,644 ✭✭✭
    Platinum should start rising, once the South African mines that produce most of the world's supply cut production back, due to a lack of electricity. Summer weather and air conditioning season is approaching there, and already the gauge on THIS PAGE is going into the red zone during the daytime.
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  • BoomBoom Posts: 10,165 ✭
    Actually, your OP is not that far-fetched. Just yesterday, Wednesday, I read where "The Big Three" are looking for a Government bailout.

    Sheesh! Did they ever open up a can of worms or what!image
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  • DeadhorseDeadhorse Posts: 3,720 ✭
    Don't bet on it.

    There will be plenty of cars and trucks produced in 2009.

    Both domestically and foreign.

    US carmakers have already gotten one major bailout, they now want another.

    The main problem for US car makers is the Unions. Declare bankruptcy and all those contract will have to be renegotiated.

    Toyota averages paying their workers $24 an hour, UAW workers make an average of $48 an hour, with lifetime benefits near their working wages after retirement for the rest of their lives.

    Tough to compete under those restrictions.

    Unions need to be banned. The Mob controls most of those anyway.

    I remember my first ever job, it was unionized. I worked part time but had to pay full dues. Those amounted to nearly all my paycheck.

    I spoke up in a meeting about how that wasn't remotely fair. Two huge body builder types yanked me up and out into an alleyway. I was told I could learn to be quiet or have my kneecaps broken. I quit the job the next day instead.



    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • lathmachlathmach Posts: 4,720 ✭
    The Yugo plant in Yugoslavia just folded.

    Ray
  • LALASD4LALASD4 Posts: 3,602 ✭✭✭
    Even if there are no cars build in the next five years, we will still be able to find enough cars to drive.
    Coin Collector, Chicken Owner, Licensed Tax Preparer & Insurance Broker/Agent.
    San Diego, CA


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  • SaorAlbaSaorAlba Posts: 7,554 ✭✭✭✭✭


    << <i>The Yugo plant in Yugoslavia just folded.

    Ray >>



    It was bombed out during the 1990's, unfortunately Yugo will never go away. Like dog pee in the carpet, it will always linger.
    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    we still have the option of riding bikes!
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  • GemineyeGemineye Posts: 5,374 ✭


    << <i>Unions need to be banned. The Mob controls most of those anyway. >>



    ...image...Right...?!?!?!...we should all be making $1.25 an hour and our big execs should be riding in limos and corporate jets...!!! Oh excuse me ,they do that now......image
    ......Larry........image
  • DeadhorseDeadhorse Posts: 3,720 ✭
    There was a tme when unions had their place.

    They have since become so corrupted that they should just be gotten rid of.

    The free market will determine wages. This is a new age with information readily available.

    There is no longer a need for unions. You can blame the automaker's problems squarely on the UAW.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • SaorAlbaSaorAlba Posts: 7,554 ✭✭✭✭✭
    See this about the CEO of Japan Airlines foregoing most of his salary and benefits:

    Imagine The CEO of GM Doing This...
    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
  • GemineyeGemineye Posts: 5,374 ✭


    << <i>There was a tme when unions had their place.

    They have since become so corrupted that they should just be gotten rid of.

    The free market will determine wages. This is a new age with information readily available.

    There is no longer a need for unions. You can blame the automaker's problems squarely on the UAW. >>



    If it were not for unions or collective bargaining the American worker would not be making a decent wage and getting good benifits.People from other countries come here and try to get a good job with those benefits.The American unions have lost membership in recent years due to large outsourcing of our manufacturing and thus losing clout.All unions are NOT corrupt..!!!
    The CEO's of our American companies should be held accountable for their mistakes.We would not be in so much of a financial mess if they were....JMHO.....image
    ......Larry........image
  • notwilightnotwilight Posts: 12,864 ✭✭✭
    Unions had their place but they time has passed. My dad started out working 80 hrs weeks in laundrys for 20c /hr. When I was a kid he was a bricklayer making $5/hr. Unions raised wages to what he considered reasonable. Now even he is shocked at union demands. Union workers that I've know in my working life often wished they could opt out. Unions often make rediculous statements about how they'd rather see the company bankrupt than one brother laid off...it's gotten rediculous.

    Modern work rules and standard expectations ensure that people are paid a fair wage. We can't even get americans to work at physical labor any more. Non union facilities that I have visited over the years are much more productive, must better morale, and a much better place to work. Give modern management teams room to work and they will realize that a happy workforce is a productive workforce. But create the standard union andversarial relationship and nobody will be happy.

    But even with Union wages twice their competitors salarys in the auto industry, cars are still being made and demand is stll some very large percentage of what it was last year so I think we'll still need some catalytic converters in 2009.

    --Jerry
  • GemineyeGemineye Posts: 5,374 ✭
    The price of raw materials and EPA regulations have caused prices to climb for every product that is made.Substitutes for materials are also costly and sometime non-effective or unsafe.Quality is usually expensive...
    ......Larry........image
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