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Automotive News & Views United Automobile Workers of America (UAW)
16667 messages, Last post on Nov 10, 2009 at 3:38 PM
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Replying to: wiseman (Jan 24, 2009 9:20 am) Gresham's law The principle that 'bad money drives out good'. Gresham's law held that if two coins are in circulation and their face value differs from their bullion value, the coin of the higher bullion value will be stored or melted down so that eventually it will be out of circulation. Sir Thomas Gresham was a sixteenth-century English philanthropist and financier whose money founded Gresham College and built the first Royal Exchange in London. Gresham's Law states that when the real value is more than the token value of the money, folks will melt it down and sell it for its real value. This was way before the we went off the standard. Just where did you learn economics?
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Replying to: circlew (Jan 24, 2009 10:43 am) Trump Needs A Bailout..... At least in Chicago....... This is one prominent example that the problems in the commercial real estate market are growing rapidly on a daily basis ( see .CMBS Indices )....It is probably no coincidence that once again Deutsche Bank is involved .... At least this time their exposure seems to be minor compared to their Vegas adventure ( see Deutsche Bank Is Doubling Down In Vegas..... ).... Maybe this very possible blow up in Chicago will keep Trump from bragging for the next quarter http://immobilienblasen.blogspot.com/2008/10/trump-needs-bailout.html |
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Replying to: cooterbfd (Jan 24, 2009 6:38 am) What is Wagoner's lifestyle? Did he live beyond his means? Most people spend more when they earn more. That is how the US economy works. If so, then how is he going to survive on the $1 + promises? |
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Replying to: gagrice (Jan 24, 2009 4:36 pm) |
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Replying to: dallasdude1 (Jan 24, 2009 5:07 pm) Then why is the UAW NOT willing to negotiate? When wagoner takes a pay cut, why can't they? Not even for their own survival? We know that UAW guys did get paid good enough. Look at you. You paid off 2 mortgages and working on a 3rd. Even if you saved like crazy it is hard to do that. That is unless you are not spending money in the market. Which also means that you are bad to the economy. You are not keeping the money in rotation. Bad. Very bad. I earn a handsome income, and quite enviable, yet paying off the mortgage, and that too only one, is years to go. Why? Because I spend money in the economy to keep it moving. I am not hoarding it (or saving it as you say). Any ways, the moot point is that as UAW you did earn great income, enough to pay off 2 houses. That is where the trouble lies. Because I cannot assume that you were a miser and did not spend money on good quality lunch/dinner, good clothes and good vehicles. If you did, you cannot possibly pay off 2 mortgages on your own income, but if you did, then UAW pay is really good. Too good. |
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Replying to: chikoo (Jan 24, 2009 5:48 pm) http://townhall-talk.edmunds.com/direct/view/.f12feb9/8228 |
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