“They did it for the auto industry. They did it for the banks,” said Flynt.
Flynt and Francis said they will ask the government for $5 billion in bailout money. They told TMZ.com that their DVD sales are down 22 percent from a year ago.
Flynt said he’s pretty sure he won’t get it and wants to make a point with his request.
"I'm dead serious about making congress look stupid,” said Flynt. “I think the American people should have more to say about those bailouts and how they are spending the money. These politicians have never handled money wisely since I've been in this world and I don't think they are going to start now."
Most lawmakers have called the request for bailout money a publicity stunt.
Quite obviously a publicity stunt, and perhaps with his heart in the right place -- his statement about how politicians spend money rings true. Who better to take financial advice from than a man who makes hundreds of times my yearly income every day and who has no special interest in the outcome (unless he's in the banking and/or auto industry too)...though I still support temporarily propping up the auto industry (despite iminent failure once the support runs out) for the reasons I described earlier in the thread.
Plus, he sells something my wife and I can afford, unlike banks and auto manufacturers.
Bank of America's liabilities exceed their assets, and their profits won't get them out. They need to go away, but because the Saudis, with whom we have bestowed with so much of our cash now, own major shares of this and other banks, there is likely a bit of blackmailing going on over the bailout cash. After all, if the Saudis lose all of their value in US dollars and investments, they will lose incentives to play nice with the oil supply.
Make no mistake about this one thing: It is about far more than the mortgage and banking industry, and about the economics of trade and natural resources that we currently need and do not have an adequate supply of. They WILL get their bailout money while our domestic manufacturing industries will be allowed to flounder and whither away. Obama talks as if it will be different than the last round, but I don't see it happening, whether that is his true desire or not.
"Only a few years ago, the National Bureau of Economic Research told us that personal savings in America hit a low equal to that of the Great Depression."
the demand for new cars will NEVER be what they had been in the recent years of economic growth if consumers are paying attention. this personal savings crisis began during a time of a healthy economy.
granted, a significant amount could be related to natural job losses and those spending savings after 9/11/01, but overconsuming plays a bigger role. cars and homes would be a large part, but not all of it.
wake up America, you must think about the future and spend less than you make. and, swallow your pride and buy what you need, not want.
Its quite possible that I will never again buy a new vehicle. And its not just my fear of robot overlords, (And most of this is probably me) but also with the lack luster choices available, the relatively poor gas milage (we've been building cars for how long, and unless it involves a hybrid system, doesn't get much better milage than a 1929 Plymouth?), and the overall overpriced sticker on all of them with the exception of few. Maybe its me, but 90% of the cars out there look like they plopped out of a cookie mold. And for the love of God, would someone take silver paint out of the color lineup! Perhaps its this area, but half the cars in the parking lot outside the building and in the street are silver, or gold, or some makeup of those two colors. I realize that what I want in a car, is probably not what most people want or need, hence why there are no cars out there that I like, or ones that I do, I am not willing to fork over cash for. So for me, finding older cars that do the job, or possible building my own car to commute in, that cost very little ( and will most likely be hideous) is where my options are.
The 2008 DuPont Automotive Color Popularity Report says white is the top vehicle color choice in North America for the second straight year, and is a strong player globally, with “white effects” allowing consumers to differentiate cars subtly to express their individuality. Black and silver with effects also turned in a strong performance globally. The term “effects” refers to special pigments that lend a pearl or iridescent appearance to coatings.