Posted on 09/03/2023 7:56:39 AM PDT by Kaiser8408a
Soviet Joe Biden, who is a believer in Soviet-style command economies where rather than rely on free market capitalism, we now have CC (Crony Communism) running the US economy. Into the ground. But in the tradition of bad Federal policiies, Soviet Joe and Energy Secretary Granholm (with help from Congress) mandate green energy transition at all costs, watch the auto industry suffer, then bail them out. Sounds a lot of like the banking crisis of 2008 where The Federal government pushed homeownership until it helped almost collapse the banking sector, then the Federal government bailed out the banks. Rinse, repeat, bailout. And the bailout of banks in going! (Notice that The Fed has barely shrunk its $8+ trillion balance sheet!).
Automakers are looking to finish the week with strength after it was announced on Thursday that the Biden administration would be making “up to $12 billion” available to retrofit facilities to make both EVs and hybrids.
The money will include $10 billion from a US Energy Department loan program for clean vehicles and an additional $3.5 billion in financing to expand domestic battery manufacturing, according to Bloomberg.
However, we’ve seen this “bailout” business model to save jobs before – at banks and during Covid, to name two examples – and it always winds up turning into a company cash grab before ultimately firing workers regardless.
The Biden administration continues to aim for half of all vehicles on the road being EVs by 2030.
Oh and now that UAW Boss seeks 46% raise and 32-hour work week. Reminds me of Federal student loans where students run up massive amounts of debt to major in useless degrees like political “science” and gender/race studies, yet universities hire more admininstrators.
(Excerpt) Read more at confoundedinterest.net ...
Where is Joe getting all this money. Isn’t THE HOUSE, or CONGRESS the branch of gov’t that has control of the purse strings?
Green now means SCAM
The dumbest ideas do the most damage. That’s their motivation. Destroy us with flawed state projects supported by state propaganda. Question it and they cancel you and prosecute you.
The government is again picking the winners and losers as they did during their covid crisis .
It used to be, according to the movie, : " Follow the Money"
Now it is changed to : "What is the source of the money"
They are now robbing Peter in order to pay Paul ?!
Did 'Slo Joe' start investing his 10% for the big guy ? Not likely !
We should investigate which members of the administration are investing their own money.
Isn’t THE HOUSE, or CONGRESS the branch of gov’t that has control of the purse strings?
************
Only in theory. The Republicans talk about cutting spending but they are not really interested in doing anything about it.
They also buy lots of votes with all their spending. Not their money, mind you, but taxpayer and borrowed money.
Just bought a new car and it’s not an ev...
Potential EV buyers should be aware that the EPA will be requiring CO2 capture/’green’ hydrogen for fossil fuel electricity production.
Electricity for EVs will be expensive in many areas of the country.
CARES Act.
Policies of sabotage.
Don’t forget him bailing out the far-left Worthless Diplomamaniacs. By doing so, he also bailed out a lot of thieving universities and colleges. Education has become an industry for freeloading deadbeats.
Obama’s bailout of the unions part II.
We knew and the automakers Traitor Joe would do this. MSM tried to tell us there was a “surge” in EV sales when it went 4% to 6%. Now the truth about the all problems is coming out and nobody wants them. The rats plan to regulate ICE cars off the road will take too long so Biden is giving them billions to prop them up the meantime. The rats use tax money as their bank account and the GOP let’s them as long as they get their beaks wet
“Inflation Reduction Act”...Manchin’s bastard offspring.
A government cannot run its nation’s economy. Period, exclamation point. Now automakers have a lot of electric powered vehicles they cannot sell.
I thought the constitution said the house of representatives determines how much money can be used for things here in America Biden has no right to give money to the car company.
“US Energy Department loan program for clean vehicles”
Gasoline vehicles are already astonishingly clean. The emissions controls added since the first PCV valves in 1961-1964 have made cars incredibly clean.
<>Where is Joe getting all this money.<>
The [wink-wink] “Inflation Reduction Act.”
Brandon gave John Podesta control of $350 Billion in walkin’ around money for rat enterprises and Leftist NGOs that will help steal 2024.
Taxpayers fund their own demise. Pretty slick.
#8 Just bought a new car and it’s not an ev...
You will be sorry when it does not catch on fire or cost you more in every way like those electric vehicles... : )
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