Posted on 05/28/2009 7:16:45 AM PDT by reaganaut1
Barring a sunrise at night, General Motors Corp. is headed for an orderly bankruptcy, and the Obama administration is about to be handed the keys to a venerable corporate institution. Again.
And again, the administration seems to be rewriting the rules of capitalism to fashion a deal to its liking.
Purists - and virtually every academic economist one happens to encounter - wonder what happened to the once inviolate principle of rewarding risk-takers. Unsecured creditors will get less of a stake in the new GM than its employees, and you can forget about poor unadorned stockholders.
As in the deal with Chyrsler's bondholders, the administration muscled its way through the negotiations and used its considerable leverage to convince secured debtholders - the highest class of investors - to accept a fixed return that was significantly less than many of those investors had expected when they put money into the falling company. Who benefits? The question isn't very apt, because everyone is losing something. But, on balance, the unions are getting a better deal.
The unions, who support Democrats - and whose work rules arguably hastened the collapse of the American auto industry.
Asked whether the Chrysler and GM bailouts were sops to unions at the expense of secured creditors, administration officials answer the subject of the question. That may be the case, they respond, but the other choices were untenable. As to the charge that the Obama economic team is redefining capitalism, erasing incentives for investors and acting like a gangster, I would wage an hour's worth of UAW productivity that officials, in private moments, would concede that these things are so. But they'd argue that, where critics see a contempt for capitalism, what's actually taking place is a revision of the informal rules that governed capitalism into the ground.
(Excerpt) Read more at cbsnews.com ...
The left feeds off negative "vibrations." The more we give them, the stronger they get.
The way to get our country back is through peaceful means. They want social unrest, because the more unrest there is, the more they can come in as the "saviors."
Already, the the American people are peacefully fighting back. They're not buying. They're trading - no money, no consumer taxes, no food for the politicians. Trading sites are popping up. I heard on the radio this morning people are having swap meets. They're having rummage sales that deal in trade rather than cash.
People aren't building. They're not working over time. They're not driving as much. They're not hiring. The administration needs our money, but the people aren't giving it. They're trying to starve this beast. They're avoiding every tax they can, and they're saving their cash for themselves.
"Operation Thrift" was a FReeper thing, but people are doing it on their own anyway. There is a Revolution going on. The press just isn't reporting it.
” But whwn a long train of abuses...”
Maybe they realize they could be the next target. They have money and power, and Oboma wants it.
Over the weekend I did something I never thought I’d do; buy a Japanese car.
Just to protect your investment, you have to!....Who the hell knows where GM and the rest will be in three years? I wouldn’t buy anything new from any of them! Who the hell knows if you will even be able to get parts not to mention quality?.....Never mind the damn environmental engine restrictions!
Also...a corrupt education system
0 is a Marxist, as are most of his Democratic colleagues in Congress, whether or not they admit it, or even realize it. The rest of the gutless wonders in Washington are Potomac puddle heads, so Capitalism, even in the revised Fascist form of Socialism that is evolving now, isn’t on terra firma. Our screw-brained oligarchy wants to run the whole show. Stupid children are playing with the wealth of the US.
This is the revolution of which I was speaking .... non violent ... starve the beast. However, they are now talking about a VAT tax and a National sales tax ... not in lieu of imcome tax but in addition to. When the “starve the beast” phase of the revolution fails ... which I predict it will ... then the next phase will start ... if it’s not too late. I predict that the 2010 election will be the bellweather that will tell whether we can retake our republic peacefully. 2012 will be the VERY LAST chance. We may well not last past 12/21/2012
Obomas take over of GM was to start an Auto Welfare program. It won't be long before you'll see the democrat base being given free cars.
Without free stuff, the democrat politicians have nothing to offer the voters. Their base lives in a constant state of "want", and they need to be constantly fed. Without money or something else to offer, the democrat base won't bother voting, and the socialists would lose their power and privilege.
Starve the beast. We can live without their money, but they can't live without ours.
So what do you do for a living??? I'd like to know so I can avoid your business...Let's send ALL of our money to Japan, China and Mexico...
But the thugs that run them will find something else to suck the $$ out of.
We are in the process, and are leaning heavily toward a Honda. I have never purchased a car that was not American either.
I find it amusing that everyone is tiptoeing around the elephant in the room - gun and ammo sales.
People aren’t buying guns out of fear of future restrictions, or about fear of civil unrest, or increased crime. These are the speculations of the media, studiously ignoring exactly why people are stocking up, as if for war.
Yes, we all want a peaceful means of solving the irreconcilable differences between the elites and those that want to remain free. This is what the 10th amendment sovereignty resolutions are about. An attempt to resolve it peacefully - let us live in peace in our own states.
The elites won’t allow it, and everyone knows it.
So, you never buy anything made anywhere but the US?
Yes it will. The powers that be are struggling to survive. They know their time is short, and go to any extreme to stay in power.
BUT.....the greatness of America is it's freedom, and I believe the American people are desperately crying out for the freedoms that have been stolen from them.
The tea parties were a symptom. A Conservative protest is an oxymoron. These people are busy people, and unlike the left cannot run out to protest everything that offends them. This time, they did. The left knows this means trouble. For every protester out there, there are thousands more who feel the same way.
Our biggest problem right now is not having representatives to vote FOR. Voting Republican is like voting democrat. People need a strong leader to vote FOR rather than someone to vote against. We need people who understand the founding fathers intent, and will follow it.
The problem with America today is it's lack of strong leadership. It has to say "No" to the entire liberal agenda, and mean it.
Liberalism is the prelude to socialism. Socialism is the prelude to communism. That's how we got to where we are today.
I don't believe they're buying them to fight government. I believe they're buying them to protect their families from the RESULT of the government. When the democrat base can no longer feed off everyone else, they're going to rape and plunder rather than support themselves. Their ability to care for themselves has been breed out of them by the left wing politicians. They'll be hungry. Very, very, hungry.
I just saw where he just sent $500 million to the USA Indian reservations and native Alaskans to buy votes with.
Subversion of Democracy and destruction of our republic. Crystal clear now.
Grand slam.
I buy American made at every available opportunity...If I can find what I need that's made in the U.S. of A., I own it...
How about you??? You buy on the cheap??? You get all the chinese junk you can to save some bucks regardless of what it's doing to our once great country???
Unless you buy 100% American you are a hypocrite. I buy what I need, if a choice is the same for American made as something else I would choose American made. Don’t blame the economy on me, take the mote out of your own eye first. Oh, wait, it’s far easier to lecture folks than it is to actually DO something.
Don't buy American because of what IS going on in this great country. Do you really think the Socialist Workers Party (union leaders) have OUR best interest at heart? Or do you think maybe they have political power in mind? Do you think the card check intimidation bill will benefit the American people, or do you think it will supply the socialists in power with unlimited union funds?
Buying American today is buying Socialism. Is this what's best for America?
Rather than buying from an overseas source or an America source, it's best to refrain from buying at all right now. Why feed the government beast, it's dependents, when you can bank your funds and save them for yourself? Instead of buying a new car and paying all that consumer tax to Oboma, buy a nice used car off a neighbor instead. (Cash only)
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