Are bailouts a violation of our international trade treaties?
I was listening to a podcast over the weekend about the dangers of to the international trade system from the global economic downturn. These concerns are becoming common. One academic thinks that many of these bailouts that we are talking out are in violation of international treaties and could spark a trade war: I think [Obama] has to really use his rhetorical powers at some | Read More »
Is GM toast?
No question about it according to this Atlantic article. This paragraph sums it up. GM has burned through $13.4 billion in less than six months. What will $30 billion buy us? Another year, at best, with no signs of a turnaround in the market for cars. Autos, like other big consumer durables, are especially sensitive to downturns like this. There’s only so much food you | Read More »
Trivia Question of the Day, U.S. Senate Version (Open Thread)
Only twelve Senators voted against TARP, the Big 3 auto bailout, and the Porkulus boondoggle. Who were they? (Answer below the fold) Speaking of which, does anybody else out there have some good trivia? Let’s make this an open thread, with a slight emphasis on brain-expanding question-and-answer in the comments. My personal favorite subject is ancient history
Oh, the Hypocrisy!
While trying not to laugh at Obama’s righteous indignation over the exorbitant bonuses paid out to Wall Street executives this month, I noticed a very curious, though not surprising irony. Now, don’t misunderstand. I don’t particularly like the fact that these companies, which have received billions of dollars in federal bailout money, are paying out ridiculous bonuses to their employees. In light of the fact | Read More »
Democrats: 55% of America is unpatriotic.
Live by the opinion poll, die by the opinion poll: Majority of Public Opposes Auto Rescue Poll Finds Most Blame Industry for Problems, Believe Failure Won’t Hurt Economy Most Americans continue to oppose a government-backed rescue plan for Detroit’s Big Three automakers as majorities blame the industry for its own problems and are unconvinced failure would hurt the economy, according to a new Washington Post-ABC | Read More »
How to fix the Economy…
The very first thing we need to do to fix the economy is to get ALL of the lawyers OUT of Washington! Seriously, why the hell do the people continue to elect lawyers to run the government? They have absolutely NO BUSINESS experience! Sure they know Roe v Wade was about abortion and the 7th amendment includes the right to a jury trial but do | Read More »
Bad Policy From GOP’s Policy Chairman
After weeks of obnoxiously promoting his support for a taxpayer-funded automaker bailout, Rep. Thad McCotter (R-Mich.) voted for the bill last night. Erick has already explained why McCotter is just plain wrong and Michelle Malkin points out the hypocrisy, but I want to take it a step further. McCotter was reelected chairman of the House Republican Policy Committee last month. Why is the No. 4 | Read More »
With love, from Michigan. I hope you know sarcasm when you see it.
Although this post took extensive editing to remove unpublishable language, I’m not about to pull any punches in content. I also have a first-rate flame suit so don’t worry about biting your tongue either. I am just astounded by the ignorance of the arguments against the “auto bailout.” Now that I have 49 out of every 50 of you fired up, here’s how we see it in Michigan. First of | Read More »
Boycott the Bailout Babies
The sleazy Detroit automakers are trying to blackmail Congress into preventing a bankruptcy, claiming that the public would not buy cars from a bankrupt company (which is nonsense. The Feds would guarantee people’s warranties, and the automakers would continue making and servicing cars. Do you know people who refuse to fly United because they’ve been through bankruptcy?). The real reason is that in bankruptcy, | Read More »
UAW Workers Really Do Cost the Big Three $70 an Hour
The liberal watchdog Media Matters for America is on a crusade to disprove the so-called “myth” that United Auto Workers employees cost the Big Three automakers more than $70 per hour. In a lengthy article over the weekend, Media Matters cites statements from General Motors to supposedly disprove this “falsehood.” There’s just one problem with Media Matters’ work — it’s all spin. Last month my | Read More »
Dear Congress, RE: Auto Bailout, From: Taxpayer…
Dear Congress, If reports are true, and there will be a bailout for the big three, I demand to voice my suggestion to each company as someone who has a stake of their tax dollars being loaned to the companies. As a stipulation for receiving funding, one of the companies should resurrect an American classic, a part of American lore, an as American as apple | Read More »
Romney: Let Detroit Go Bankrupt
Much has been said and written about the auto industry bailout, but Mitt Romney’s opinion piece in the New York Times is a must read. In the article, he comes right out and confronts an issue that most politicians and pundits afraid to touch, labor costs: … their huge disadvantage in costs relative to foreign brands must be eliminated. That means new labor agreements to | Read More »
Let’s look at the British auto bailout . . .
My first car was a very ancient, very rusted MGB convertible that I bought for $1200. It had split batteries (always running dry) that you could only access by removing the rear jump seat. It was beautiful to look at but an engineering nightmare. Its basic design was from the days when cars were driven for fun, only on weekends, and only by the rich, | Read More »
No more bailouts: Yes, this means facilitating mergers too.
So…here we go again. The Auto Industry is asking for our money…again. Well, who didn’t see this coming after the Wall Street bailout? The law of unintended consequences is taking hold with an iron fist. And now every struggling industry and Blue State is coming to Washington hat-in-hand to beg for your money. And “The One,” being beholden to all of them, is going to | Read More »