This blog is no longer active as of October 31, 2011
I will be the very first to confess that there are issues in politics that I very high disagree with Patrick J. Buchanan on. However, Mr. Buchanan does have a good idea of what Conservatism should be about; having said that, let me personally recommend this article here by Patrick Buchanan. Again, I have disagreed with the man, at times; but this is not one of them.
This article ought to be in the e-mail inbox of every darned last Conservative in America this morning.
It’s not everyday you see this here. What the heck happened? Someone slip Bill Kristol a mickey or something?
I thought all neoconservatives were globalists?
This ought to be a lesson to every last Democrat who voted for Obama and Biden.
The Video:
The Story:
With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.
Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland.
“There was no contract manufacturer in the U.S. that could actually produce our vehicle,” the car company’s founder and namesake told ABC News. “They don’t exist here.”
Henrik Fisker said the U.S. money so far has been spent on engineering and design work that stayed in the U.S., not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive.
“We’re not in the business of failing; we’re in the business of winning. So we make the right decision for the business,” Fisker said. “That’s why we went to Finland.”
via Car Company Gets U.S. Loan, Builds Cars In Finland – ABC News.
Here is the real-world translation to that last line in that story; we did not want to have to deal with the labor unions in this United States, so we moved our manufacturing overseas.
Take note my Democratic Party friends who happen to read this blog, all two of you. This is what happens to the Democrats and their union counterparts, when they elect internationalist Democrats, who really do not give a care about what happens to American workers. Internationalist Democrats and their Republican counterparts, the globalists — like Richard Nixon, who do not care about American workers, they are corporatists, who support crony capitalism.
This right here is a perfect example of why the relations between the Democratic Party and the labor unions are frosty at best. That is because the Democratic Party for the last few instances that they have won elections, have been putting internationalist Democrats into the White House. This type of a Democrat talks a nice game, and puts out platitudes to the American autoworkers and their representatives in the unions; but when the “Rubber hits the road” so to speak, things change. They begin showing their true colors and start doing things to kick dirt in the face of the American worker.
I do not write this as a Conservative mocking the left, goodness no. I write this as someone who has a father, who is a retired General Motors worker, who is a member of the UAW. If anyone would know how the Democratic Party has treated the American autoworker in the last 30 years, it would be me. There was a time in this Country, when the Democratic Party used to respect the American autoworker and would literally step in front a train to defend them. Sadly, that time has passed, as the unions have lost their influence amongst the Democratic Party.
The loss of that influence in the Democratic Party is partially due to the actions of the internationalist Democrats, like Bill Clinton, who signed into law NAFTA and TAFTA. Some of that loss of influence is also due to the declining membership roles within the UAW and other said unions. Either way, it is sad transition in America, when our politicians in Washington D.C. put interests abroad before interests here at home.
Some of my readers, all three of you, might be shocked to see that I do not take a more mocking tone on stories like this and here is why I do not; Pat Buchanan said it best once, on one issue that I actually agree with him on — the American worker. Pat once said, “As goes Detroit, goes the Nation,” and you know what? Pat Buchanan is right about that, the United States of America used to be a manufacturing marvel. We produced everything ourselves, and other Countries used to come here to see how we did it all. Sadly, those times have come and gone, due to many reasons, a list of which is longer than the length of this blog entry will permit.
What is solution you ask, I know what it is; but most of the people who will come here to read, will not agree with it. However, I will give the solution. Firstly, the solution is NOT to bust up the unions, as they have as much right to proper representation, as the company owners have a right to make a profit. The solution to the problem is to get rid of these idiotic so-called “Free Trade” agreements. Secondly, the solution is to impose strict tariffs on EVERYTHING and I do mean everything that is manufactured overseas and imported into our Country.
These actions would do a couple of things; firstly it would protect the American workers from the globalists who want to undercut the American worker to make a quick dollar on the backs of cheap sweatshop labor in foreign countries like China. Secondly, it would solve our Nation’s revenue problem by creating a reliable source of income; one of which we did have in this Country for a very long time, before the globalists ripped it out, in favor of trade agreements.
Further, the solution is in whom we elect; Republicans and Democrats alike need to elect those who put America’s interests first, and not the interests who those abroad. To be fair, Republicans have done this too in this past and we as Americans need to watch what these new crop of Republicans really represent; do they represent the interests of the crony capitalists or do they have the American people’s interests in mind? Supposedly, the Tea Party movement brought some of this “America First” type of populism to the Conservative movement, but as of late, it seems that the Tea Party was nothing more than a passing fad. I just hope the people, who went to these protests, use the principles that were promoted at the Tea Party rallies, at the ballot box come November 2012.
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I’m 39 and I still live at home and yes, it sucks. You know, I’ve been called a leech, a shit stain and alot of other names. But honestly? Is it my fault? No, it’s the economy around here and leaders in Washington D.C. that have screwed the Country into the ground.
I saw this via Drudge:
WASHINGTON — Call it the recession’s lost generation.
In record-setting numbers, young adults struggling to find work are shunning long-distance moves to live with Mom and Dad, delaying marriage and buying fewer homes, often raising kids out of wedlock. They suffer from the highest unemployment since World War II and risk living in poverty more than others — nearly 1 in 5.
New 2010 census data released Thursday show the wrenching impact of a recession that officially ended in mid-2009. It highlights the missed opportunities and dim prospects for a generation of mostly 20-somethings and 30-somethings coming of age in a prolonged slump with high unemployment.
“We have a monster jobs problem, and young people are the biggest losers,” said Andrew Sum, an economist and director of the Center for Labor Market Studies at Northeastern University. He noted that for recent college grads now getting by with waitressing, bartending and odd jobs, they will have to compete with new graduates for entry-level career positions when the job market eventually does improve.
“Their really high levels of underemployment and unemployment will haunt young people for at least another decade,” Sum said.
via Recession yields a lost generation of workers – Business – Stocks & economy – msnbc.com.
Honestly though, my folks do not mind me living here; they like the help and I am an only child; so, there is not another brother or anything, who can help. So, I live here, until this economy recovers. Another thing too, in 2004, I filed for bankruptcy and I did start over. I made the stupid mistake of getting into a lot of debt, when I was younger with a credit card. Needless to say, I learned my lesson there. I have a debit card now, and if I zap that back account, I am screwed. So, I have the motivation to not screw that up!
On a related note, on the economy; the man who came to fix our A/C here, told me that he is lucky if he gets like 25 hours a week with the company he is with. Now keep in mind, this is not a trainee or anything that, this dude was certified in A/C and Heating. He has the license and everything; and he is not even getting 40 hours a week of work. That, my friends, is how screwed up our economy truly is. 🙁
Those who have a job are lucky to get enough money to put food on the table, and those of us, who cannot find a job are basically left out in the cold. This is why I have such a big problem with all this union protectionism crap that the left is touting. I respect the Unions at all and what they fought for, many years ago. But, we are living in a different would and the prosperity of that era; which the unions took advantage of, is gone for good.
So, that is why, when I see stuff like this here; my heart breaks, because it is not the wealthy people who are going to suffer. It is going to be the working class people and the poor; who are going to suffer the most. The thing to remember is this; it all trickles down, sooner or later. The wealthy lose, the jobs dry up and people suffer. The bad part is, Government cannot fix it. it has to fix itself. The sad part is, it usually takes a LONG time for it to fix itself.
This, is the folly of Progressivism; the belief that Government can fix something that it did not break, in the first place.
This is unreal… 🙄
US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.
Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.
The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.
Public debt subject to the official debt limit — a slightly tighter definition — was $14.53 trillion as of the end of Tuesday, rising from the previous official cap of $14.29 trillion a day earlier.
Treasury had used extraordinary measures to hold under the $14.29 trillion cap since reaching it on May 16, while politicians battled over it and over addressing the country’s bloating deficit.
The official limit was hiked $400 billion on Tuesday and will be increased in stages over the next 18 months.
Chew on that one for a few seconds or longer. The USA is borrowing more money from China, that the United States makes as a whole. For the reading up on the GDP, click here. I also recommend that you read up on the Gross National Product and Gross Domestic Income. All of that above, factors into our economy; and believe me when I tell you — we are circling the drain my friends.
There is a bunch more on this subject; and for what it is worth, I do not claim to be an expert on this stuff at all — So, I recommend you read following related articles:
U.S. debt shoots up $239 billion -- in one day!
Gov't will borrow $72B next week...
Obama, Bernanke out of ammo to boost jobs, growth...
Scary Market Chart Pattern Suggests More Selling on Way...
Economy struggles to find footing...
Gold at $2,000 by year-end...
Speaking of Gold, this would be a good time to get into investing in Gold, It would also be good to stock up on Guns and Ammo!
What I will tell you is; because I am an honest blogger and not some partisan shill for a particular party – is this here. Many on the right wing Blogosphere will be quick to put this entire situation on President Obama. I cannot and will not do that; the truth is folks, we did have and still do have two wars that we are fighting; and those cost money too. We also did have the bailout of the banks and tarp bailouts, the trap loans to the big three, being a fraction of the total cost.
Truth is my friends; we are here because of foolishness of our elected leaders — Republican and Democratic Party. Both sides have steered this Nation over a cliff. President Obama tried and ultimately failed to bring an economic revival to the Country. Now we have to pay the proverbial piper. It is going to be a painful process; the tap is turned off and we are now going to have embrace austerity.
It is a horrible thing to endure, but it is something that we are going to have to endure — if we are going to continue as a Country, as we know it now.
Update: This is now a Memeorandum Thread: Others covering: Washington Times, Scared Monkeys, Conservatives4Palin, Pajamas Media, Weasel Zippers, Fausta’s Blog, Power Line and The Lonely Conservative
These are the Taliban and the men lined up are Pakistani Policemen: (Warning! Graphic Video!)
The Story via ABC NEWS:
In a new video which recently surfaced online, the Taliban appears to brutally and systematically execute 16 unarmed Pakistani policemen in what the terror group called a revenge killing.
The video of the massacre, which reportedly took place in early June, was posted online last week and confirmed by the Pakistani army today. It shows the policemen — who are not in uniform — standing in a line before a Taliban member who appears to be lecturing them. The man, who appears to act as the militants’ commander, accuses the policemen of executing six children in a previous operation and claims their imminent deaths are revenge, according to a summary posted with the video.
Several Taliban members then open fire on the group until all the policemen have fallen. A wailing cry is heard in the background after the initial volley. After reloading, a single fighter walks over each body and shoots them once more in the head.
But yet, President Barack Obama wants to try and negotiate with these monsters.
My friends, you do not negotiate with criminals and cold blooded killers; these people hate Liberty and Freedom. They hate Israel and Jews; kind of like the liberal left and some of the Paleo-Conservative and libertarian right. They are not rational, sane, human beings — they are cold blooded killers. We did not negotiate with Charles Manson and his cult — so why the hell would we negotiate with people like this?
My friends, consider this hallow warning from someone who sat through hours of footage on 9/11 and almost ended up in the psych ward because of it:
Dismiss me as an alarmist if you wish; I could not care less. But this is coming to America, if we fall down on the war on terrorism!
America must be protected; Israel must be protected, Liberty and Freedom are at stake! Radical Islam is a threat! Do not believe the lie of the Liberal-controlled, financed, and organized media — which is supplanted by the Government! The liberal media is in bed with the radical and no-so-radical Muslims!
Remember 9/11, Remember the Pentagon, Remember Flight 93 —– Remember America.
Remember this Video and Blog Posting come November 2012.
We need a President who will stand tall in the face of these bastards and not blink. Bush did it; and paid for it, with his Presidency — but he did not waver for a second. Mistakes were made, that is very true. However, in the end, we won in Iraq and we can win here too. We just have to not give up.
lan astaslem --- I will not surrender --I will not submit.
This is not a game, this is not fake; Ron Paul and his racist, Anti-Semitic friends, who hate Israel and everything related to it are the ENEMY! They must be kept out of the White House, at all costs! They are friends with these people! Consider me a soldier in that battle too.
In the Name of Jesus Christ of Nazareth and of in the Name of the Lord GOD Jehovah — Master and Saviour of this World and KING of Kings and LORD of Lords of this World and in the great, wonderful, world to come:
Just a follow up to yesterday’s posting; it would seem that this would be a good time to invest in gold, even if you cannot afford the expensive stuff, a small investment in the cheaper stuff would be smart.
As you know I am an affiliate for GoldSilver.com and they offer some great coins and bullion for those who wish to invest in that sort of the thing.
GoldSilver.com offers
You can also check out their Silver Products Here
Want more proof? Check out this video from Russian TV:
I think it is time to invest in Gold. I mean, when the fed chairman says he does not believe that Gold is money; something is horribly wrong.
Now I see why Rick Santelli is ranting and raving!
First of all, here is the lovely report via the NYT:
For the second month in a row, employers added a dismally small number of jobs, showing that the United States economy is barely creaking along despite being two years into the official recovery.
With all levels of government laying off workers, the Labor Department reported that employers eked out just 18,000 new nonfarm payroll jobs in June. The already low number of jobs created in May was also revised downward to just 25,000, less than half what was originally reported last month.
Even as the government’s survey of employers showed that they were adding an anemic number of jobs, a survey of households showed that more people were out of work, causing the unemployment rate to rise to 9.2 percent.
Economists were stunned since they had been expecting June to show stronger job creation as oil prices eased and supply disruptions receded in the aftermath of the Japanese tsunami and earthquake. Instead, the government’s monthly snapshot of the labor market showed that several sectors, including construction, finance and temporary services, actually shed workers. At the same time, leading indicators like wages and the length of the average workweek, which tend to grow before employers begin adding more jobs, actually contracted.
“Even the wild-eyed optimists out there have nothing to grasp onto in this report except to say, ‘Ah, this too shall pass,’ ” said Joshua Shapiro, chief United States economist at MFR Inc.
Meanwhile the stupidity continues on the left. A perfect example is found over at The Hill:
President Obama’s senior political adviser David Plouffe said Wednesday that people won’t vote in 2012 based on the unemployment rate.
Plouffe should probably hope that’s the case, since dismal job figures aren’t expected to get any better for Obama and the economy on Friday.
Most economists expect a report from the Bureau of Labor Statistics to show that the nation added about 100,000 jobs in June. That’s not enough to keep up with population growth, let alone lower the unemployment rate or make a dent in the 9 million jobs lost during the so called Great Recession.
[UPDATED: The jobs report released on Friday showed the economy added only 18,000 jobs, much less than anticipated. The unemployment rate creeped up to 9.2 percent.]
It’s looking more and more like Obama will have to do something no president has done since Franklin Roosevelt: Win reelection with unemployment around 8 percent.
I have a sinking feeling that Plouffe is making a seriously stupid miscalculation ; and one that the Republican Party is going to take full advantage of, come November 2012.
The stupidity continues over at the NYT, again with the stupidest Economist ever to be allowed to write for a paper:
Ugh. That was a seriously ugly jobs report. Almost no job creation, with slow private-sector growth offset by falling public-sector employment; a falling employment-population ratio; and (I don’t know how many people have picked this up), an actual decline in wages, albeit a small one.
Let me emphasize that last point. My bottom line on the inflation-deflation issue has always been to look at wages; you can’t have a wage-price spiral if wages ain’t spiraling. And they aren’t, to say the least.
It’s important to realize, by the way, that stagnant wages are NOT good for recovery; all they do is ensure that the burden of debt relative to income remains high, keeping demand and employment down.
The situation cries out for aggressively expansionary monetary and fiscal policy. Instead, however, all the political push is in the opposite direction.
The underlined part and the part above it; is where the stupidity really kicks in here. That stupidity above, is why this damned Nation is in the place that it is now. Because of stupid people like Krugman. These idiots, in a sane World, would be tossed out of this Country for causing one of the most horrible economic collapses in this Nation, since the great depression, which caused many Americans; Conservative and Liberal, to lose money that they rightly earned or invested in and profited from.
This is not to say that the Republican was not to blame; they too stood by and did nothing and for that they paid a price during the 2006 and 2008 election cycles. However, America was not fooled the Democrats proceeded to make some of, if not more, of the same mistakes that the Republican Party made, while in power. For this, they paid in 2010 and will pay again in 2012.
Further more, it was the DEMOCRATS, not the Republicans, who sought to game the housing market, with the Community Reinvestment act of 1973. Of which the Democrats added the sub-prime cause, which caused the Housing Market to become unstable; which essentially caused the markets to collapse. Yes, regulation was ripped out; but it was the adding of the sub-prime clause that caused the major problems that set the housing market up for a horrible downfall. I know, I watched it all happen here, in real-time, while blogging it all.
In fairness, I will say this; because I am not an overly partisan blogger. It also was the Neo-Conservatives, with their one war, that was totally unjustified in their idiotic visions of a Democratic middle east and the quagmire that it created, not to mention the millions spent and the lives lost; that also created this mess as well. If we would have fought the Afghanistan properly and not like we did Iraq; the war would have been much shorter and would have cost us much less money.
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No, he is not crazy……Just slightly animated.
(via Mediate)
Can be found here at Activist Post.
(Via Blacklisted News and H/T To InfoCyde on Twitter)
The Synopsis of this video:
This is a video of David Wood and Nabeel Qureshi asking questions at Arabfest, Dearborn. The date is June 21st, 2009. There was a booth at the festival which had a banner titled “Islam: Got Questions? Get Answers.” From their table, we picked up a pamphlet claiming that Islam promotes peace. We noticed that it was full of poor logic and errors, so we decided to make a video refuting it. We went to the booth that gave us the pamphlet to give them the opportunity to defend their claims. Security, however, stepped in and forced us to turn off our camera.
We left the booth, received advice from police, and found out that the actions of the security guards were illegal. We went back to the booth to record a potential answer again. Realizing that the Muslims present had no answer, we left.
When we came outside, we were asked some questions by two young men, who had been sent by security to entrap us. While we responded to them, festival security started assaulting us, as you will see in this video. The conclusion of this video is a mob of festival security attacking our cameras, pushing us back, kicking our legs, and lying to the police.
We ask you, is it a coincidence that the city with the highest percentage of Muslims in the United States is the city where Christianity is not allowed to be represented (let alone preached) on a public sidewalk? Is it coincidence that in this city, people will say “No way!” when we say “This is the United States of America”?
Is this what will happen when Islam takes over the United States?
You see Ladies and Gents, THIS is what celebrating diversity does to you. It gets you attacked by Islamic terrorist THUGS! Rick Warren and his purpose driven life, “Let’s love everyone and not judge”, kind of Christianity is just that; it celebrates diversity. Islam, a religion of peace….. What a lie! 😡 This is why, if I ever was going to film, I would go armed. Any security person who approached me and tried to hurt me, would be killed.
Enjoy this video! (Via Gateway Pundit)
WAKE UP AMERICA to the LIE OF ISLAM!
Yes, I know about the bankruptcy of General Motors. No, I will not be commenting on it. As I have a policy, as a blogger not to comment on issues that I personally am involved in and biased towards or against.
Here’s the facts, Via Keith Hennessey:
Process
* GM’s bankruptcy filing was expected to be at 8 AM EDT in NY Southern District in Manhattan. (CNBC)
* Obama and GM CEO Fritz Henderson are scheduled to hold back-to-back press conferences beginning at noon today. (CNBC)
* They are using the same Section 363 process that Chrysler used. The new GM buys the good parts of the old GM. The old parts are liquidated. (White House fact sheet)
* “… would allow a much smaller GM to emerge from court protection in as little as 60 to 90 days.” (CNBC) (This is a guess/spin. How optimistic is it? GM is much harder than Chrysler. –kbh)
* “Al Koch, a managing director at advisory firm AlixPartners, will be appointed chief restructuring officer in charge of liquidating those GM assets” (CNBC)
* “Autos task force will stay in business – shifting to an investment manager role”(CNBC)In “the new GM,” ownership is:
* 60% of equity goes to the U.S. Government. USG also gets $8.8B in debt and preferred stock.
* UAW’s retiree pension/health plan (the “Voluntary Employee Beneficiary Association”) gets 17.5% of equity, plus:
o warrants to buy another 2.5% of equity;
o a $2.5 B note (three installments, ending in 2017); and
o $6.5 B in perpetual preferred stock (9% coupon).
* Approximately 12% of equity goes to the Canadian (and Ontario?) governments. They also get about $1.7 B in debt and preferred stock.
* Bondholders of old GM get about 10% of the equity, for giving up $27.1 B in unsecured debt. This was approved by bondholders representing 54% of unsecured debt. The other 46% are the biggest risk for the bankruptcy filing. (CNBC, WSJ)
* “Bondholders could take up to 25 percent of GM if it recovers to be worth what it was in 2004, before it began round after round of cost-cutting in what proved to be a failed bid to make up for lost sales.” (I need to understand this better.)
* Secured bondholders expect to be paid face value. (WSJ)Governance of the new GM
* UAW’s VEBA can select one independent director, but cannot vote its shares or other governance rights(!) (White House fact sheet)
* “Canadian government will have the right to select one initial director.” (White House fact sheet)
* “The U.S. Treasury will also have the right to appoint the initial directors other than those that will be selected by the VEBA and the Canadian government.” (White House fact sheet)GM gets about $40 B of new cash to help pay its bills during bankruptcy. This is called debtor-in-possession (DIP) financing.
* U.S. Government: $30.1 B in new debtor-in-possession (DIP) financing. (WH fact sheet, CNBC)
* Governments of Canada & Ontario: $9.5 BNewCo / OldCo
* “Today GM is announcing its intention to close 11 facilities and idle another 3 facilities.” (White House fact sheet)
* “[GM] has not provided an update target for job cuts but had been looking to cut 21,000 factory jobs from the 54,000 UAW workers it now employs in the United States.” (CNBC)
* “While the “new GM” is expected to emerge quickly from court protection, the automaker’s shuttered plants, stranded equipment and other spurned assets would be left to liquidation in bankruptcy.” (CNBC)
* Previously announced: “closing more than a dozen factories and shedding the Pontiac, Saturn, Saab and Hummer brands.” (WSJ)
* GM will “shutter 2,600 dealers.” (WSJ)
* “The new GM will also pursue a commitment to build a new small car in an idled UAW factory.” (WH fact sheet)
* GM will shed more than $79B in debt. (WSJ)
* “GM at the last minute also found buyers for some unwanted subsidiaries, including German-based Opel, which is being acquired by a consortium led by Canadian auto-parts supplier Magna International Inc., and the Hummer brand, whose buyer remained undisclosed.”Future
* “The U.S. Treasury does not anticipate providing any additional assistance to GM beyond this [new $30.1 B] commitment.” (White House fact sheet)
* “As a result of this restructuring, GM will lower its breakeven point to a 10 million annual car sales environment. Before the restructuring, GM’s breakeven point was in excess of 16 million annual car sales.” (White House fact sheet)
* “The administration said the goal of the restructuring was to help GM be profitable in a year when the industry sells 10 million vehicles, versus the 16 million it sold in 2007.” (CNBC)
* “GM will continue to honor consumer warranties.” (WH fact sheet)
* GM is being removed from the Dow Jones Industrial Average 30 (“the Dow”), along with Citigroup. They will be replaced by Cisco and Travelers. (CNBC)
As you all can well guess; there is a great deal of sadness and a great deal of anger in this household today. I will give you all a fair warning. ANY sort of stupid or abusive or troll-like comments left in the comment section will result in your comment being deleted and your IP address being blocked from even viewing this blog. You just don’t insult my family. Period.
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In the ongoing debate between President Obama and former Vice President Dick Cheney on torture, former CIA terrorism expert Michael Scheuer points out how both leaders’ refusal to address U.S. interventionism as the primary catalyst for terrorism makes us all “less safe.”
When South Carolina Gov. Mark Sanford was attacked by Republican state leaders for not accepting federal stimulus dollars, it was worth pointing out the utter uselessness of GOP politicians who refuse to follow through on their conservative rhetoric.
When Lindsey Graham denounced Ron Paul-style libertarianism and advocated for George W. Bush-style neoconservatism during a speech at the South Carolina Republican Convention, it was worth pointing out that Graham’s suggested GOP path is the road to nowhere.
How support for both “financial security” and “national security” reveal partisan hypocrisy and make us less safe.
How the news coverage of the swine flu isn’t so much indicative of any serious crisis, but the mainstream media’s corporate and government, PC sensibilities.
A pretty sad thing to wake up today. However, I am sorry to say this, but I knew it was coming. Chrysler never was able to get their act together; unlike G.M. and get a resolution together.
The Report comes via the Washington Post, I won’t quote the whole thing and I kindly ask that you go over and read the whole thing. But rather, I will give some my impressions from the interesting stuff.
My impressions:
The Obama administration last night planned to send Chrysler into bankruptcy, replace chief executive Robert L. Nardelli and pump billions of dollars more into the effort, all in hopes the company can emerge from court proceedings as a reenergized competitor in the global economy.
Government officials clung to 11th-hour hopes last night that bankruptcy could be averted, but talks broke down with Chrysler’s creditors. A bankruptcy filing could happen as soon as today.
The U.S. government’s attempt to save the automaker amounts to another extraordinary intervention in the economy and a landmark event in the history of the American auto industry.
Under the administration’s detailed court strategy, ownership of Chrysler would be dramatically reorganized, the leadership of Italian automaker Fiat would take over company management and the U.S. and Canadian governments would contribute more than $10 billion in additional funding.
Company and government officials had feared that a bankruptcy would stain the brand, shake customer confidence and erode sales, but the administration said it would seek to use the process to create a new Chrysler company. Its ownership would be divided, with the company’s union retiree health fund receiving a 55 percent stake, Fiat would claim as much as a 35 percent share and the United States would take 8 percent. The Canadian government would receive two percent.
Basically this is what General Motors did voluntarily. Minus the Fiat equation, of course. It is a tough break that the creditors, bond holders, and company management could not come together to an agreement. The main and good thing is, that the automaker, itself, will be saved, and that American jobs will be saved.
Now comes the part that will make people like Sean Hannity, Rush Limbaugh, Michelle Malkin, and the rest of the far right wing people howl at the moon:
The automaker’s current majority owner, the private-equity firm Cerberus Capital Management, would have its holdings wiped out.
Now, to be fair; I will report the truth about this holdings company. This company, from what I have read and have been told; is notorious for buying up struggling companies, like Chrysler and shutting them down and selling off the assets to make money. They have done this in past, from what I told. So, while I hate to see anyone lose their money. I actually am glad to see Chrysler being taken away from this company.
Let me also say this. As an Conservative, who believes in “America First”, and believes that business sometimes have to fail; I am not exactly jumping for joy, when it comes to fact that this auto company is having taxpayer dollars being pumped into it. Nor am I happy at the fact, that a US automaker is having a foreign auto company’s management taking over its operations. However, I believe we must be realistic about such matters. We are not living in the 1950’s any longer, we are in a economic recession of monumental proportions, and if we do not drastic measures quickly, we could see a total collapse of the American auto industry. I also know that there is a undeniable truth that “as Detroit goes, so goes America.” Pat Buchanan and I, have been saying this all along; if allow the big three or in this case, the big two to disappear our Nation’s economy would go into free fall. I shudder in absolute horror at the thought of the far reaching implications of such an event.
I will say, as a devout Paleo-Conservative; If we would have rejected the globalism of the Rockefeller-type conservative types and would have imposed strict trade restrictions on Japanese and other such foreign automotive products, these auto companies would not be in the position that they are today. It is because of the Rockefeller-type, Madison Avenue, Neo-Conservatives, whose mantra is “screw the American middle class”, is the reason we are in this position today. Further more, it is the reason that the world is also partaking in our recession as well. Perhaps President Obama will see the state of our globalist economy and will rethink his position on NAFTA and TAFTA and the rest of those toxic free trade agreements that are in place; and impose strict tariffs on imports that are bleeding our economy dry.
Realistically however, I highly doubt that President Obama will do any of that, because he is trying to run as a centrist, or as I like to call it; he is sucking up to the Neo-Conservative right, as they are his biggest supporters, strangely, after trying so very hard to defeat him in the election. Of course, we Paleo-Conservatives know why this is; because the only difference between a Neo-Conservative and a Democrat is the letter next to the name.
How in praising the tea parties one week, then defending President Bush on torture and his “War on Terror” the next, conservatives negate their alleged anti-government message.
As many of you know, I am the son of a retired General Motors worker. Ironically, I am also a Conservative. No, I am not a Republican; or even a formal Libertarian. I am someone that believes that the less Governmental interference in my life, the better. However, there is a place, where my politics ends and a genuine concern for my family begins.
I see that General Motors is going to be taking more money from the Government, and is desperately trying to salvage what is left of that company:
Quote:
General Motors Corp. will get up to $5 billion and Chrysler LLC $500 million in short-term aid, according to a 250-page government report obtained Monday by The Detroit News.
The Detroit News reported Friday that GM would get about $5 billion and Chrysler $500 million, citing an Obama administration official, which prompted a denial from the White House.
The short-term aid figures are disclosed in the report from the Treasury Department’s Inspector General on the $700 billion Troubled Asset Relief Program.
The report was obtained from a congressional source late Monday.
Meanwhile General Motors is is doing its damnedest to rid itself of waste:
General Motors Corp. has started notifying about 1,600 white-collar workers — most of whom work in southeast Michigan — that they will lose their jobs this week as the cash-strapped automaker cuts costs that could help the automaker qualify for up to $16.6 billion in additional federal aid.
The announcement was made by GM North American President Troy Clarke in an e-mail sent to employees today, spokesperson Tom Wilkinson said.
“This is part of really restructuring the company to a smaller, leaner company, one that can, as the (Obama) administration requested, be profitable on an ongoing basis,” Wilkinson said.
While this might be a good thing, there are those out there that believe that this is too little too late:
It’s ironic enough that Italy’s Fiat Auto could end up being the savior for Chrysler. After all, former Chrysler President Bob Lutz once likened Fiat to a dead bride when his old boss, Lee Iacocca, wanted the company to join up with the Italian carmaker. Now, Lutz is at General Motors until he retires in December, and Fiat may help his current employer.
Yes, the Italian carmaker is reportedly in talks with GM about forming a partnership with its European and South American businesses, says Automotive News. How ironic is that? Well, in 2000, GM bought 20% of Fiat Auto for $2.4 billion. Back then, GM was healthy and Fiat was in serious financial trouble. The Italian company was wracked by quality issues. It was so bad that GM actually paid another $2 billion a few years later just to avoid a put option that would have made GM the sole owner of Fiat. GM’s board didn’t want that kind of headache.
But now, after Fiat CEO Sergio Marchionne has fixed the company, he could help save Chrysler in the U.S. and GM in Europe. GM lost $1.5 billion in the Olde World last year, with its Opel and Vauxhaul brands suffering mightily with too many factories. GM is actually doing very well in Latin America, where the auto giant earned $1.3 billion last year. Fiat is pretty strong there, too, so they could make a powerful pair down there. The only catch is that Fiat doesn’t have any cash either. But the alliances will help be getting each company jointly-engineered vehicles and sharing parts.
The bottom line: Fiat is not a great carmaker by any stretch. But Chrysler and GM are in so much trouble that anyone could help at this point. Even Fiat.
Which brings me to my point; have any of you really looked at your Father? I have. I see worry in his eyes. I see worry in both my parents eyes. The questions my parents are facing, as they enter into their golden years are unfathomable, for someone my age. Will my parents lose everything that my father worked hard to obtain? We are talking 31 years worth of blood, sweat, and tears. My Father earned every damned last penny. I dare some idiot beltway type to say otherwise.
I have been a critic of the Obama Administration for much, as of late. However, I will give him credit for one thing. The President is looking out my Father. I just hope he does not throw my Father under the bus, as he has many others in his short time in the White House.
Some of you might look at this posting and call me some sort of a hypocrite. That is your right as an American.
However, if you could only see my Father’s eyes; you might just might be able to understand.
When hundreds of protesters showed up at the South Carolina statehouse to protest Gov. Mark Sanford’s refusal to accept $700 million in federal stimulus, it was worth noting how Sanford doesn’t represent economic disaster – but perhaps the only chance we’ve got.
The Article referenced in this Video is found here
How “911 Truth” conspiracy theorists who believe the U.S. government orchestrated 911, aren’t any more “crazy” than those who believe Saddam Hussein did.
