FINANCIAL: Dealerships Give Car Buyers Some Advice: Just Stop Paying Your Loan – WSJ

The trade-in, where a buyer hands a car back to a dealership and uses it as credit toward another one, is often a crucial step in car buying. But some dealerships are instead telling buyers to give their old cars back to their lenders—and selling them new ones—in a practice known as “kicking the trade.”

Source: Dealerships Give Car Buyers Some Advice: Just Stop Paying Your Loan – WSJ

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This seems dishonest by both the dealer and the borrower.

Like the sub-prime mortgage fiasco, the banks are letting the “originator” off the hook.

The fix is easy.  Make the originator responsible — both jointly and severally — for the loan when and if it defaults.

Problem solved.

Be it any kind of loan, everyone needs to have skin in the game!

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RANT: Gooferment Motors bailout has cost over 32B$ dollars so far

http://newsbusters.org/blogs/nb/tom-blumer/2015/10/24/not-news-uaw-considering-plan-milk-unemployment-system-if-it-calls-gm

Not News: UAW Considering Plan to Milk the Unemployment System If It Calls a GM Strike
By Tom Blumer | October 24, 2015 | 10:30 PM EDT

*** begin quote ***

The news coming out of Detroit about near-deadline negotiations between the United Auto Workers union and General Motors has been pretty quiet. As the Sunday 11:59 p.m. deadline approaches, the Associated Press only has a four-paragraph blurb indicating that the union wants to get a richer package than it just garnered in negotiations with Fiat Chrysler. A Reuters report goes into detail about GM’s cost structure still being higher than that seen at Toyota’s and Nissan’s U.S. plants by about 15 percent and 31 percent, respectively. The New York Times is only carrying reports from the wires.

One note of substance about the UAW’s strategy covered at Bloomberg News — surely known to others following the industry who are filing bland reports — is that it plans to milk the unemployment insurance system in the event of a protracted strike.

To be clear, such a strike would appear to be very unlikely, if for no other reason than the fact that Americans remember that the Obama administration bailed out GM at a considerable cost several years ago. The final fully-loaded cost involved was $26.5 billion — not the $11.2 billion touted by the press last year. It’s safe to say that quite a few people would not take kindly to the idea of the primary beneficiaries of that unprecedented largesse walking out on their jobs when so many others are still unemployed and under-employed over six years after the most recent recession’s official end.

(Additionally, the linked $26.5 billion analysis appears not to have picked up the effect of the government permitting GM to carry forward $16 billion in tax losses incurred by the “old GM” into the “new GM” — even though “a business that undergoes a change in ownership usually has to forfeit the old company’s net operating losses,” which certainly happened during the bailout. At the statutory federal income tax rate of 35 percent, that decision alone cost the U.S. treasury $5.6 billion.)

*** end quote ***

Argh!

And the UAW isn’t happy?

Talk about Crony Capitalism.

Now they want to stick the taxpayer — via unemployment insurance — with the cost of their “strike”.

Guess no one remembers the current 18T+ national debt and the guesstimated 200T+ in unfunded liabilities that our posterity will have to deal with!

Argh!

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POLITICAL: Voting is a sham!

http://www.lewrockwell.com/2014/11/robert-willmann-jr/how-to-rig-elections-easily/

The Trump Card to Rig Elections
By Robert Willmann, Jr.
November 4, 2014

*** begin quote ***

The foundation for assuring the integrity of any system is auditing and cross-checking. For electronic voting machines, what about audits and recounts? The U.S. Congress put this in Title Three of HAVA, with its warm and reassuring caption, “Uniform and Nondiscriminatory Election Technology and Administration Requirements” –

“[Section 301(a)(2)]. Audit Capacity.

(A) In General. The voting system shall produce a record with an audit capacity for such system.

(B) Manual Audit Capacity.

(i) The voting system shall produce a permanent paper record with a manual audit capacity for such system.

(ii) The voting system shall provide the voter with an opportunity to change the ballot or correct any error before the permanent paper record is produced.

(iii) The paper record produced under subparagraph (A) shall be available as an official record for any recount conducted with respect to any election in which the system is used.” [1]

Read that carefully several times. A decent, trusting American might think that a paper ballot with the voter’s selections will be printed out, the voter will check it to be sure it matches what was selected on the electronic voting machine, and each ballot printed out will be kept by the election department so that a hand recount can be done to check the electronic results. But does it say that?

Notice the cunning wording. The “audit capacity” is for “such system” and not for each individual voter’s ballot. The paper record is for the whole system, meaning the vote totals as created by the electronic voting machines and tabulating computers. You get a printout of the computer’s totals. You do not get a printout of each ballot verified by each voter, to be saved locally for a real recount.

*** and ***

But hoping to use one of their two independent powers, people turning to the ballot box face the ultimate trump card.  Electronic voting machines.

Voters no longer mark their ballots.  Local election officials no longer count them.  Devices created and programmed in secret do it.  No recount is possible. Any fraud is undetectable.

*** end quote ***

Two quotes to remember about voting and elections:

“If voting made any difference they wouldn’t let us do it.” ― Mark Twain

“Those who cast the votes decide nothing. Those who count the votes decide everything.” — attributed to communist tyrant and mass murderer Josef Stalin

And, you expect me to “trust” the system!

Never mind that the “system” is structurally engineered to ensure that you only get to chose between large Gooferment and still larger Gooferment. 

(Ross Perot was a democratic operative running to split the republican vote (again).  He was campaigning on smaller Gooferment. He was on the verge of winning. He was being so competitive that he had to self-destruct the campaign to ensure the correct result. IMMEDIATELY, the two parties agreed to “reforms” that would prevent any challenge to the duopoly.

Even now, my beloved Libertarian Party, it financed by the D’s to split the R vote. As is the Green Party, which I regard as the Communist Party in disguise, is financed by the R’s to split the D vote.

Argh!

Secession. 

And a return to a truly representative republic.

On our way to a 100% voluntary society.

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RANT: Detroit will hurt EVERYONE

http://www.againstcronycapitalism.org/2013/07/guest-post-detroits-bankruptcy-will-bite-you-in-the-wallet/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+againstcronycapitalism+%28AgainstCronyCapitalism.org%29

Guest Post: Detroit’s Bankruptcy WILL Bite You In the Wallet
By Editor on July 20, 2013

*** begin quote ***

All this isn’t even taking into account the rampant corruption, bribes, and ulterior motives that every municipal government is crawling with – those are self-explanatory. Fast-forward a few decades and the politicians who planted the seeds of decay are long gone in one way or another – but now the municipality cannot afford its obligations. Losses on poorly planned projects, debt, and exorbitant employee compensation eat up most of its revenue, and it can no longer afford to provide the essential public services every resident counts on.

*** end quote ***

See that is the essence of the problem.

Folks want “free lunch”, but there ain’t none.

Detroit is what happens when the bill comes due.

And they Sheeple and Clover there have voted Democratic for 50 years. (Not that the R’s would be MUCH better.)

Like the Delta pilots, everyone’s getting a haircut.

Unfortunately, a promise is worth what backs it up.

On Wall Street, they have a name for it — “Counterparty risk”.

Sorry to say, but you depend on Gooferment, politicians, and bureaucrats at your own peril.

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TINFOILHAT: Deconstructing the BHO44 legend

http://atlasshrugs2000.typepad.com/atlas_shrugs/2010/03/the-biggest-hustle-in-human-history-.html

Wednesday, March 31, 2010

THE BIGGEST HUSTLE IN HUMAN HISTORY

*** begin quote ***

Obama applied for a position as an adjunct and wasn’t even considered. A few weeks later the law school got a phone call from the Board of Trustees telling them to find him an office, put him on the payroll, and give him a class to teach. The Board told him he didn’t have to be a member of the faculty, but they needed to give him a temporary position. He was never a professor and was hardly an adjunct.

The other professors hated him because he was lazy, unqualified, never attended any of the faculty meetings, and it was clear that the position was nothing more than a political stepping stool. According to my professor friend, he had the lowest intellectual capacity in the building. He also doubted whether he was legitimately an editor on the Harvard Law Review, because if he was, he would be the first and only editor of an Ivy League law review to never be published while in school (publication is or was a requirement).

*** end quote ***

So who on the BoT made that call and who pressured them?

Enquiring minds want to know!

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GOVEROTRAGEOUS: $46,378,040 / 23,994 = stupidity

http://www.wnd.com/2013/06/irs-refunds-46378040-to-23994-illegals-at-1-address/?cat_orig=us

YOUR GOVERNMENT AT WORK
IRS REFUNDS $46,378,040 TO 23,994 ILLEGALS AT 1 ADDRESS
Agency also assigned 15,796 taxpayer IDS to ‘unauthorized aliens’ at single residence
Published: 1 hour ago

*** begin quote ***

(CNS News) The Internal Revenue Service sent 23,994 tax refunds worth a combined $46,378,040 to “unauthorized” alien workers who all used the same address in Atlanta, Ga., in 2011, according to the Treasury Inspector General for Tax Administration (TIGTA). That was not the only Atlanta address theoretically occupied by thousands of “unauthorized” alien workers receiving millions in federal tax refunds in 2011.

In fact, according to a TIGTA audit report published last year, four of the top ten addresses to which the IRS sent thousands of tax refunds to “unauthorized” aliens were in Atlanta.

*** end quote ***

Are you kidding me?

Let VISA do that and there would be a ton of executives getting fired.

Didn’t I just read that the IRS was getting bonuses?

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