Finally there is news that President Obama’s “stimulus” has had some positive effects on our economy. The usually Obama-cheer-leading Associated Press has produced a very deep “news” article boasting the fact that gasoline prices are finally coming down and some predict prices as low as $3.25 per gallon within a month. First I’ll believe and welcome that when I see it. Second there is a rather sinister reason for the recent price drop.
I was somewhat surprised to read that General Motors is planning to sell stock sometime in the near future a little over a year from its “bankruptcy.” I used the parenthesis around bankruptcy because what the Obama Administration did for General Motors was not a typical bankruptcy. Investors were not protected or given preference as was their right;
News briefs are a collection of interesting news stories…
This edition is all about Obama’s bad week though Americans who rely on the mainstream media missed most of the implications.
Brief 1: Obama and his employees Tim Geithner (Treasury Secretary) and Ed Whitacre (Government Motors CEO) were all a tizzy when GM paid back part of their TARP loans…with interest. GM even made a commercial to announce the success of the program. This news of such a government success couldn’t come at a better time for Obama as he looks to take over Wall Street. Unfortunately Sen. Chuck Grassley and some others (including the Inspector General for the TARP program) read the fine print on the alleged payback…with interest. Grassley stated;
“an economic system of government which advocates state ownership of the means of production with equal distribution of goods among the people.”
Even though he may me the most irrelevant rich guy on Earth, I can not help but note Michael Moore’s latest attempt at lucidity. I did say attempt because he did not achieve anything close to clarity. On June 1, 2009 Moore expressed his delight at the demise of General Motors, herein called Government Motors. He claims to be troubled by the expected loss of jobs, but he cannot hold back his elation.
