Have the corporations in this country lost their mind? I’d ask if the government has lost its mind, but that happened a long time ago. With the Fed completing its takeover of Fannie and Freddie, we now have the US auto industry coming for their corporate welfare.
Let’s just say for laughs that I wasn’t for a free market (we’re obviously well off that path now), and that I actually thought it was the government’s responsibility to take care of companies that begin to flounder. Even if I was that guy, which I’m not, THE COUNTRY HAS GOT NO MONEY!!!!! ZERO!!!!! ZILCH!!!! NADA!!! NONE!!!! How can a corporation borrow money from a person or entity that doesn’t have any? You print it of course! Or, the people (or government) you borrow from, borrow from the communists who would never loan to your company directly and all because you’re too big to fail (TBTF). Wow, what a plan.
Senators Carl Levin, and Debbie Stabenow are securing the $6 billion dollars in low interest loans for the auto industry here in Michigan. Again, being that the country is flat broke and in hock to to every Tom, Dick and Harry both domestically and abroad, they’ve obviously fired up the magic money machine again and I’m sure will say that “everything is going to be okay” while the value of the US Dollar continues to drop through the basement floor. In addition, the loans still aren’t guaranteed to keep the companies from going belly up, which would stick the US taxpayer with even greater losses than have already been incurred.
This country is headed for an economic disaster of immense proportions if we don’t do something fast. Neither the democrats nor the republicans have got a clue when it comes to fixing this problem, and the presidential candidates that are actually proposing something different, at this point, will not be included in the debates this year.
Tags: auto, Bailouts, Economy, industry, market, mortgage, US
