I know that it is not the most respectful action – calling President Bush King George – but if you are going to rule like a monarch then I have no respect for you. If not for the surge being successful in Iraq and no terrorist attacks on American soil since 9/11, there would not be much good to say about this man who I put my faith in twice at the voting booth. He has been wrong on so much. He wants to give illegals amnesty, the beginning of the Iraq War was run horribly and Afghanistan was left too early, Harriet Myers, Dubai Ports Deal, leaving our border agents (Ramos and Campeon) to rot in jail without a pardon and now this bailout and stimulus mania.
Did anyone notice that the first stimulus checks sent out to the American people did nothing to stimulate the economy which now is in a deepening recession? So why would a second stimulus work? Did anyone notice that the first $850 billion bailout didn’t unfreeze the credit markets, so why would any other bailouts work? Did anyone notice that the $850 billion bailout called TARP has become a slush fund for anything and everything? Did anybody notice that forelcosures are still on the rise? Florida’s Governor had to try to issue a foreclosure holiday so no one would be kicked out over Christmas. Did anyone notice that we now have a Financial Czar instead of a Secretary of the Treasury? Did anybody notice that King George thumbed his nose at us again and bailed out big auto?
I never thought I would be this successful in life. I own banks, insurance companies, auto companies, etc. The biggest nightmare is yet to come when the floor that the government keeps trying to prop up finally crumbles beneath us. Common sense tells us that debt never works and one does not make money out of thin air.
Today, King George said that GM and Chrysler will get $13.4 billion in emergency loans with another $4 billion coming in February. He said, “Under ordinary economic circumstances, I would say this is the price that failed companies must pay, and I would not favor intervening to prevent the automakers from going out of business. But these are not ordinary circumstances. In the midst of a financial crisis and a recession, allowing the US auto industry to collapse is not a responsible course of action.”
Uh huh…but bailing them out is responsible!? And where are all those concessions we were told the auto makers and their unions would be agreeing to in order to get the money?
The King continued, “My economic advisors believe that such a collapse would deal an unacceptably painful blow to hardworking Americans far beyond the auto industry. It would worsen a weak job market and exacerbate the financial crisis. It could send our suffering economy into a deeper and longer recession, and it would lead the next president to confront the demise of a major American industry in his first days of office.”
Any bets on how long it will take before we find out that these loans have done no good, the car companies come back for more money and many people lose their jobs anyway? I give it until March at best. The Chairman of GM, Rick Wagoner, made some comments today that sounded as if he did not know what the Bush administration’s plan entailed. Here are some of them: “The term sheet does call for, I think presidential designate is the word. I think you could call that, you know, the car czar, it could be a person or persons. And I’d have to say honestly we haven’t had a lot of conversations about the process that’s going to be used there so we’re going to see as we go along. We didn’t engage in any extensive negotiations around that topic at all.”
Okay, my eyes are bleeding here because my brain wants to explode. IS WAGONER SAYING THERE WERE NO MAJOR TALKS ABOUT THIS PLAN? HOW WERE CONCESSIONS DISCUSSED THEN? Sorry about the shouting, but I am positively beside myself with the actions of this government. I keep calling for us to throw the bums out, but dimwits keep putting these same guys back in office. I listened to Sean Hannity’s “Man On The Street” segment yesterday and I still am astonished at the complete ignorance of Obama voters. And no one, not on the radio or friends that I have asked, can answer why they like Obama, what he is going to do as President or the main reason they voted for him. At least nothing substantial – “change” is not substantial.
And it was not lost on me that King George released the news of this auto bailout on Friday before Christmas. They want to keep the American people in the dark. And sadly, I think that is where most want to stay.