We're not on the road to recovery. You can't get there from here, as they say. Obama was in Toledo to "celebrate" the sale of the government's remaining stake in Chrysler to Fiat. That's "Fiat" as in the Italian car manufacturer rather than "an authoritative or arbitrary decree (from the Latin 'let it be done')," which would be almost too perfect a name for an Obamafied automobile. The Treasury crowed that Fiat had agreed to pay a whopping $560 million for the government's Chrysler shares.
Wow! 560 million smackeroos! If you laid them out end to end, they're equivalent to what the federal government borrows every three hours. That's some windfall! In the time it takes to fly Obama to Toledo to boast about it, he'd already blown through the Italians' check.
And more Steyn;
America has a looming rendezvous with destiny. You can’t tax your way out of it, you can’t inflate your way out of it, you can’t quantitively ease your way out of it. The only door that leads anywhere is the one marked “Massive Government Cuts”.
Or Not! "Another dive into the empty Keynesian pool".
Speaking of Obama economics - apparently, Boeing wants to open a plant in S.Carolina, which is a 'right to work' state.
That means that the focus is on the freedom of people to work, not the 'right-of-a-union' to barge in, raise wages and benefits above the carrying capacity of an industry. The talk is of at least 1,000 plus jobs and the average wage plus benefits is 80,000. Not bad. And no union.
BUT - Obama's administration has stepped in. In an unprecedented federal interference, Obama is trying to forbid Boeing from opening a plant there and insisting that it be done in a UNIONIZED state.
Obviously, the unions, who fund Obama heavily, have spoken to him..and Obama needs money (and votes) for his election..and so....
Never, ever, has a federal govt interfered in a private business and in its desire for a specific location. Never interfered in the industries of a state.
But then, the US has never had such an arrogant, destructive and self-centred socialist as president.
You may revel in our national anguish if you like, but I'll still be rooting for the Canucks in the Stanley Cup. Much of what ails my country eminates from Boston, so whip them good!
The rest of us, mostly outside Boston, will try to slowly turn this errant ship around. It's a big ship; this turn make take a bit of time.
If this doesn't work out, we like animals and would be happy to babysit your dogs, if you would allow us to camp out back with our three cats, three dogs, and nine chickens.
If you want to take a break from the Weiner story, I think you'll enjoy a piece called Mitt Romney Comes to Michigan and Liberals Have a Hissy Fit http://mittromneycentral.com/2011/06/09/mitt-romney-comes-to-michigan-and-liberals-have-a-hissy-fit/ You won't believe some of the stuff in that article.
Somebody refresh my memory - how much did Obama pay to bail out Chrysler? Seems to me they were talking BILLIONS, not just millions.
Maybe a new model of Ford can be called the Diktat? And they can use Anthony Weiner as a spokesman. (It would be too much to hope for Ford to start a new model called the Theater, I suppose.)
Mark Steyn nails it. Massive cuts are what are needed.
Good luck Chris Johnson. It will be tough slugging to turn the ship around what with so many entitlement leaches and an administration bent on destroying the America as it is.
Spend like there's no Zimbabwe!
Just listened to an interview with John Hathaway at King World News. His opening lines are, "you can't have sound money with a democratic welfare state". Bingo. Except I'd add welfare/warfare state.
Later on he refers to the impossibility of a Volcker moment: that REAL interest rates need to be +3%. From the current -3%, this would take a swing of 6 percentage points, which would add maybe $800 BILLION to the deficit. Politically impossible. Just as massive government cuts are impossible as a matter of deliberate government policy.
He thinks the US is past the point of no return.
"You may revel in our national anguish if you like"
It may seem like it at times, Chris, but most of us are scared about it too. Thanks for the Canuck boost!
When, oh when are American voters going to realize they've been had? This Marist-Leninist clown will not only destroy the American economy, but will most likely bring many others down with it.
That all rimes with 'outsourcing'.
USA outsourced its economy and destroyed its cash flow. The Chicom and Indians are laughing all the way to the bank. Someone has to face firing squad for this treason.
Aaron-
You don't know all the data, so go do some more homework.
The rest of us, well, we'll be be going to work for a while, just as soon as we shed the leeches.
The only good thing I see coming from the Obama years is the bragging rights earned by those who survive them. Everyone who has parents, grandparents or great grandparents who lived through the dirty thirties knows of what I speak.
"Yessirre sonny back in my day we had this goof for a president, people lost their homes, no one could find a job, after Daddy lost the Caddy we had to walk to school through a hail of bullets both ways...."
"Wow! 560 million smackeroos! If you laid them out end to end, they're equivalent to what the federal government borrows every three hours."
Funny yet true.
Chris Johnson - speaking for myself, I am not reveling in your national anguish, I am with all Americans hoping for the best and fearing the worst re: the dumbocrate disaster and the pitiful leader in the White House. Americans are Canadians best friends in the world; we share more than the same continent, we share the same heritage. Half of my family live south of the border; I identify with Alaska and Montana much more than I do with Quebec or S. Ontario.
I am praying for all Americans in these grim times. I know that many other Canadians are doing the same. God Bless USA and God Bless Canada. We will help you out of the mess any way we can.
Melinda Romanoff: 'You don't know all the data, so go do some more homework.
The rest of us, well, we'll be be going to work for a while, just as soon as we shed the leeches'.
Leeches?, as in: public service union leeches, perchance?
Going to work for awhile? When you're not striking, protesting or suckholing for public sympathy? That'd be a nice change.
Melinda, Melinda....help is out there...you know? Even for pathetic cases like your own.
I'm surprised that Fiat is jumping in when Daimler-Benz had a falling out and could'nt wait to unload Chrysler. Should turn out to be a good investment though as Chrysler is making some fine products.
" I owe my soul to the company store..."
http://www.zerohedge.com/article/exclusive-feds-600-billion-stealth-bailout-foreign-banks-continues-expense-domestic-economy-
"Much of what ails my country eminates from Boston..."
Much of what is good about it emanated from there too. Not much lately, I will grant you.
Still Go Bruins.
Ken.
Not just needed....everyday that goes by the cuts will become REQUIRED, in the Greek sense.
As boneheaded as Bob Rae was as premier he eventually had his epiphany. And one of those ephinaies was that in the penultimate stage it isnt that you cant borrow, its that you can but at enormous rates with heavy covenants.
Now, that Bob put us in the ditch in the first place, "spend our way out", and couldnt bring his contituency along to go further than he did is beside the point. He has one up on Obama in that he recognized the problem.....my issue with Obama has mainly been and continues to be that on the economy he doesnt understand it, doesnt get it and is disconnected from its solution. Therefore he sees it only as politics.
You would think with the people ahead of him on tis issue he would have moved on it. CLueless....or the the theory that its intentional, which I am not there on yet but increasingly becoming open to.
I think the US can survive the rest of his term, but not a second.
To our American friends. I for one do not enjoy the difficulty that our southern neighbours are expierencing. 3 of my 4 grandparents were Americans. That aside, Canadians have to realize that what the USA is going thru will happen in Canada. Just a matter of time. We can only hope that Prime Minister Harper can set a new direction that will minimalize the impact.
Chris Johnson
Most folks are far from happy whats happening to you & your Countrymen. WE already went thought this ourselves. With a socialist maniac destroying our Democracy with its economic solvency. Only the usual insecure Empire loyalists & Vietnam running away from war trash ,with their leftist comrades trash America.
Academics & Politicians who think not being American means hating America.
You go off the cliff , so do we.
I wrote that if Obama was elected the US would cease to be a light of a World hung in darkness. Unfortunately because of Obama that has come true.
He hates Your Nation more than anyone else. He's Indonesian, not American.
A puppet for Soros & his CHi-Com goons.
From disasters to Wieners it gets harder by the day to watch a magnificent people perish by the hand of a sold out Pinocchio.
JMO
There is not enough money on the planet to do what the permament governing class is doing
So true. But, do not ask how the leadership of the US of A can possibly allow this, remember these people, currently in executive office, are Socialists, and socialists, from my experience, hate America. So, do not be surprised, Obama and his operatives WANT to destroy America, and their weapon of choice is bankruptcy.
Much of what ails my country eminates from Boston..."
Posted by: tim in vermont at June 12, 2011 6:57 AM
Jeez....I don't know Tim. Compared to anywhere in California, Boston is still a bastian of sanity.