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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (98007)	5/28/2009 6:26:32 AM
From: Dan3	Respond to of 116555

Domino effect continues to hit other sectors of American industry as the auto companies enter bankruptcy. Visteon files for Chapter 11 Auto parts supplier files for bankruptcy protection for its U.S. business. Company plans to keep operating through reorganization. May 28, 2009: 4:07 AM ET BANGALORE (Reuters) -- U.S. auto parts maker Visteon Corp said on Thursday it had filed for Chapter 11 bankruptcy protection for its U.S. operations. In a filing with the U.S. Bankruptcy Court for the District of Delaware, Visteon (VSTN, Fortune 500) listed total assets of $4.58 billion and total debts of $5.32 billion. The Michigan-based company's unsecured creditors include a unit of Bank of New York Mellon Corp. (BK, Fortune 500) holding bond debts, the Pension Benefit Guaranty Corp and IBM (IBM, Fortune 500), which is a trade creditor. Visteon said it filed certain customary "first day motions" with the court to ensure a smooth transition into Chapter 11... ...Visteon, which Ford Motor Co. (F, Fortune 500) spun off in 2000, said the car maker had made a commitment to support debtor-in-possession (DIP) financing for the restructuring efforts and to ensure long-term continuity of supply. Ford is still Visteon's biggest customer and accounted for about 31% of its $1.35 billion of sales last quarter. Lot's more at: money.cnn.com

To: mishedlo who wrote (98007)	5/28/2009 7:37:06 AM
From: see clearly now	1 Recommendation Read Replies (4) \| Respond to of 116555

Mish, ...with exceptions the US is not the world's 'policeman'...more like an Imperial Raider to ensure its continued fix of hydrocarbons! The majority of the world would be a much happier place if if it was merely a Police intervention force by invitation! ...the Value Added Tax I know of does not include Milk or other food or children's clothing and school supplies..and in business accounting the value added Tax along the chain is not accumulative but netted out! ..its a very good form of Tax because it encourages frugality, saving and collection.. saves on professional Tax dodging fees and schemes including the inherent regulatory, policing and legal-judicial costs that are value-subtracting to an economy ...and very important as you mentioned, is it allows the reduction of other individual and corporate taxes that might discourage innovation and hard work!

To: mishedlo who wrote (98007)	5/28/2009 8:22:05 AM
From: Think4Yourself	1 Recommendation Read Replies (1) \| Respond to of 116555

That fence on the Mexican border might prove useful after all...to keep smarter Americans from leaving.

To: mishedlo who wrote (98007)	5/28/2009 2:21:32 PM
From: NOW	5 Recommendations Read Replies (1) \| Respond to of 116555

I was reading about VAT on Mish's site today. I happen to strongly disagree with one statement Mish made: "... Public support for wars would drop to zero if taxes had to be raised to pay for them. Same holds true for unneeded military programs, Fannie Mae bailouts, Bank of America bailouts, etc etc..." I resepctfully submit that Mish, like most of the folks out here in econoblogland, is missing a key piece to this puzzle. And while I totally agree that passing a Value Added Tax is a virtual impossibility at this very moment---a moment in which the government has demonstrated without doubt that they are willing to sacrifice the middle and working classes on the alter of wealth-preservation for the rich and infamous---I also am quite certain that our current President is more than capable of rallying the troops, so to speak, through his adroit employment of the Bully Pulpit. I have been saying this for weeks now. WAR IS COMING! The only way to tax the American public in a manner that reflects the potential revenues of a VAT without there being wild-eyed state nullification efforts and cries of violation of the 10th Amendment and violent populist tax revolts, etc. is to rally the American public behind an effort that makes them pony up to the tax-table with great patriotic zeal. And WE KNOW from studying our history that Presidents from Lincoln to Truman to Kennedy to even "W" have been successful in rallying the nation around a "just cause". (In fact, I happen to believe that "W" could have funded the war in Afghanistan in 2001 WITH a tax increase had he so desired.) No, a VAT cannot pass. Not in this climate of suspicion and contempt and out-and-out distrust of our lawless, duplicitous federal government. But create a nice little war to save humanity from a nuclear-armed Taliban or from a nuclear-armed Kim Jong Il, and just watch the tax revenues flow in." google.com I have to agree Mish