Very good article on the looming auto-industry bailout, and the bailout situation in general. I recommend you go read it.
Of course, there was more than one "deeply false note" during Obama's campaign, but this was certainly one of them.
One of the most hypocritical lines coming out of DC during the beginning of the meltdown was that the free market had obviously failed, and government oversight was needed. (whereas in reality, government intervention had caused the problem, and they were now incompetently trying to solve it.)
Now it looks like more piles of taxpayer money will be thrown onto the bailout bonfire, this time to an auto-industry that has practically begged for bankruptcy and failure between its short-sighted strategies ("let's ignore the market and fuel prices, make the cars we want, and tell you to buy them") and stranglehold by the unions.
But:
I have great news... I just saved a load of money on my car insurance by switching-ok, ok. Sorry, couldn't help myself...
-()4|<.
Mr. Obama's one deeply false note during the campaign was his harping
on "deregulation" as if that were the source of current troubles. His
real problem is the crack-up of the world FDR built.
Of course, there was more than one "deeply false note" during Obama's campaign, but this was certainly one of them.
One of the most hypocritical lines coming out of DC during the beginning of the meltdown was that the free market had obviously failed, and government oversight was needed. (whereas in reality, government intervention had caused the problem, and they were now incompetently trying to solve it.)
Now it looks like more piles of taxpayer money will be thrown onto the bailout bonfire, this time to an auto-industry that has practically begged for bankruptcy and failure between its short-sighted strategies ("let's ignore the market and fuel prices, make the cars we want, and tell you to buy them") and stranglehold by the unions.
But:
I have great news... I just saved a load of money on my car insurance by switching-ok, ok. Sorry, couldn't help myself...
-()4|<.
Posts
2 comments:
I still don't understand why the government is assuming the role of economic micromanaging. It strikes me that every time the government steps in to fix things, whatever they are fixing gets worse.
Government in general has yet to learn that throwing more money at a problem does not make it go away.
But, it's easy, and it apparently gets you re-elected. Because you can pretend that throwing money at something was your honest attempt to fix it, and the resulting failure was because of "those scheming -insert other party here-". Works nearly every time, sadly.
-()4|<.
Post a Comment