Picking winners
Treasury: U.S. to lose $25 billion on auto bailout.
“The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That’s 15 percent higher than its previous forecast.”
Obama is so much smarter than the capital markets...
Should GM have gone through bankruptcy? Of course it should have. Now it's a mega money-loser being propped up by fleet sales to -- wait for it -- government. So taxpayer money is being used to buy GM's substandard cars that nobody wants to buy, and on which taxpayers are already losing money by paying to build them. And huge sums of taxpayer money continue to be squandered on Obama's green energy daydream. What the hell are you smokin' over there, champ?
If the activity/enterprise is worth supporting, private investment capital will flood in and and support it. What does it tell a person of average intelligence when private capital wouldn't touch GM, or windmills and solar panels, with a ten-foot pole? What it told Obama was that public money needed to be poured in by the bale. He's gifted with a sort of reverse-genius.
Taxpayers didn't build this mess -- government stupidity built it. And it did it by extracting money from the private sector, where it could have been allocated to productive uses, instead of being flushed down the government toilet. We absolutely have to get this idiot out of the presidency. He knows nothing.
Byron
“The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That’s 15 percent higher than its previous forecast.”
Obama is so much smarter than the capital markets...
Should GM have gone through bankruptcy? Of course it should have. Now it's a mega money-loser being propped up by fleet sales to -- wait for it -- government. So taxpayer money is being used to buy GM's substandard cars that nobody wants to buy, and on which taxpayers are already losing money by paying to build them. And huge sums of taxpayer money continue to be squandered on Obama's green energy daydream. What the hell are you smokin' over there, champ?
If the activity/enterprise is worth supporting, private investment capital will flood in and and support it. What does it tell a person of average intelligence when private capital wouldn't touch GM, or windmills and solar panels, with a ten-foot pole? What it told Obama was that public money needed to be poured in by the bale. He's gifted with a sort of reverse-genius.
Taxpayers didn't build this mess -- government stupidity built it. And it did it by extracting money from the private sector, where it could have been allocated to productive uses, instead of being flushed down the government toilet. We absolutely have to get this idiot out of the presidency. He knows nothing.
Byron
posted by Byron | Monday, August 13, 2012
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