Teacher's Union To The Rescue?!

Demonstrating his utter contempt for the free market, as well as contract law, Barack Obama recently told senior creditors, i.e. bondholders, in General Motors and Chrysler to accept a pittance for their secured place in line, or nothing.
He then called them "vultures."

Most of the bond holders caved, including big banks, unable to withstand the political pressure and bullying of the state run amok.

But not the Indiana Teacher's Union.

They're going to court.

Let's hope Mr Obama is convicted for his larceny, as well as his libel.

It's Smoot-Hawley All Over Again

Due to the "Buy American" provision of the stimulus mess, pipe fittings at Camp Pendleton were hauled out of the ground-for no other reason than they were purchased from a Canadian company-and promptly replaced with American pipe fittings.

Let's assume these fittings were purchased from the Canadian manufacturer because they were less expensive than the competing American brand.

How is American then advantaged when more expensive fittings are used?

When more money is spent, more money is spent.
It matters not if it is spent in the U.S. or Canada.

We're supposed to believe that because we buy from American companies that jobs are being saved and/or created.
But the company that "bought American" spent more for its American product. So, they are now poorer, and might have to...shed jobs.

Let Free Trade ring!!!

Supreme Liberal

Barack Obama, in discussing his hypothetical nominee for the Supreme Court, says he wants a justice who will show "empathy."

How 'bout one who simply applies the law of the land!

I will accept nothing less than a fight to death from Republicans.

Stand up, or stand down!!!

The World Is Not Enough

So...50% of Chrysler is being given to its employees and their pension fund, and the government is taking a 50% stake in General Motors.

Keep in mind these companies are basically worthless, that is without value.
But they're being kept afloat with dollars that Americans weren't spending at these companies to begin with.

Make sense so far?

Of course it doesn't.

But, hey, that's just socialism.

And socialism, in addition to being stupid, is very costly.
It's a wealth destroyer.
And that is exactly what is happening. Wealth is being destroyed.
We are more poor when the government attempts to run private businesses.
It's that simple.

Both of these companies should be in bankruptcy right now; and they should be there without the taxpayer dollars the government confiscated from American taxpayers and wasted on these lost causes.

I won't shed a tear for any overpaid UAW member when he loses his job.

Nor will I be fooled into believing that these companies have been "saved."

It's all hooey.