Today, the papers were full of the GM reality. We all knew bankruptcy was inevitable, but Washington dumped billions more into GM trying to avoid the inevitable. Now our convictions have come true. Suddenly, bankruptcy is not such a bad idea. All the threats of no one buying a car from a bankrupt company are just dismissed. Since no one is buying a car period, I guess it doesn’t matter anymore.
So, hundreds of GM employees, dealers, and dealer employees will join the ranks of the unemployed. With Chrysler soon to follow, and maybe even Ford before the year is out. All of this will take unemployment above the dreaded 10% level.
If you were president of the U.S., this should be the Job One, to use an old Ford ad buzz. We must put manufacturing back to work here or we won’t come out of this depression for a long, long time.
Where was President Obama today? In Columbus, Ohio celebrating the graduation of 25 new police cadets financed by the Stimulus Bill. Wow, those 25 new jobs will drive the Dow right through the roof. And, jobs in the public sector are just so rewarding for all of us. They are paid for by tax dollars, not consumer dollars, and they add no value to the GDP.
I’m beginning to think it’s a scale problem with the new president. He doesn’t see any difference between millions, billions, or trillions. He doesn’t see any difference between 300,000 jobs about to be lost and 25 jobs gained. When you are flying at 30,000 feet all the roofs look the same. When you are “down to earth”, everything looks different. I think Obama can’t distinguish between and ant and an elephant.
This man is in desperate need of some sense of what’s important and what isn’t . He’s throwing the whole spectrum of socialist ideas against the wall to see what he can make stick. All at once. Not much is sticking right now. The senate is rejecting the budget and may even cut it to zero increase. Thanks to senators Bayh and Feingold, some reality is forthcoming.
Give me a break, President Obama. If you think you can go to Columbus and stand in front of 25 new cops and convince anyone in America that everything is OK, you are very much out of touch with reality. The scary thing is you may be just that.
Everything is not OK. And the GM bankruptcy is much better proof of that than 25 new cops in Ohio. Or, a million new bureaucrats in the Department of Energy supposedly turning out breakthroughs in renewable energy.
Everything in not right. We are losing our country and you are making that happen. Your dream of what this country should be needs to be explained better. We are beginning to see it, and it’s really not very positive. We will need a lot more new cops just to keep peace in the streets if you don’t slow this train wreck you are orchestrating.
