Maybe you need a need broker, investment counselor, or whomever you rely on for investment advice. In the past few months you have bought stock in GM, Chrysler, Freddie and Fannie, and ZBB Energy.
Your GM stock will meet the test in the next few months when the stock goes public. If you are to break even, GM needs to raise $70 billion. That would mean GM is worth more than Ford. Some estimates are as low as $10-15 billion. That means you and your fellow investors(taxpayers) took a $55-60 billion loss on the GM takeover.
President Obama spoke in Detroit recently and said the GM takeover saved 55,000 jobs and saved the US auto business. That 55,000 is after 235,000 jobs were shed. And, he really didn’t’ save the US auto business, since Ford is doing fine without his help and GM would have filed bankruptcy and Chrysler will go out of business eventually. Taking your investment down with them. Really, what Obama saved was UAW votes.
Barney Frank now says Freddie and Fannie needs to go away. Barney wrecked them and now wants to wash his hands and watch them sink along with all of your tax dollars that will go down with them.
President Obama seems very confused this week. He says companies are hoarding cash. Then he says pensions funds are underfunded. This suggests he might tap those funds illegally and force the companies to fund pension funds. But, the pension funds that are underfunded are union pension funds, not associated with the companies that are hoarding cash, per Obama. We can only hope he isn’t so delusional that he would even consider using cash from non-union companies to bail out union pension funds. How, by taxing companies that have exercised prudent judgment and using the money for unions that have been spending pension fund money to get Democrats elected?
So, you will lose some of your investment with GM, maybe all of it with Chrysler, Freddie and Fannie, and with Obama as your investment advisor, you aren’t done.
He proudly stood on the shop floor at ZBB Energy. If you looked closely it seemed to be a very low-tech plant with very few employees. He said it was the green energy future that will create the jobs and GDP of our future. You bought $14 million in ZBB stock when you bought $2.3 billion in ZBB and 182 other great bargains like ZBB. This is the Jimmy Carter era all over again when billions were invested in green energy of the future. Find it.
If I were your investment advisor, I would suggest you look at ZBB’s financials. The company lost $4.9 million in fiscal 2008 and $5.5 million in fiscal 2009. It has lost $6.9 for the first nine months of this fiscal year. They have a “cumulative deficit” of $44.1 million . The former CEO was compensated as both an employee and independent contractor. The 72,000 square foot plant is 10% utilized. That really made the camera work for Obama’s visit tricky. The ZBB public offering in 2007 was at $6 a share. It’s now 70 cents. ( watch GM)
All those billions going into green energy. How many are as well researched as ZBB Energy? How many were going broke like ZBB and the government money will just keep them afloat for a few months. How many will have CEO’s like ZBB had who will be paying themselves twice with your tax dollars?
If you were the president would you really have a press conference at ZBB Energy? If we had media in this country, would Obama be outed for doing this? To my knowledge, only the Wall Street Journal exposed the ZBB truth.
Do your want to keep Obama as your investment advisor?
