I am watching CNBC tonight and here comes Wilbur Ross…billion workout specialists saying we HAVE to bailout the auto industry. Their problems are not from foreign competition overseas. No it is foreign competition from Southern States that gave incentives to attract Japanese car makers to build plants in the South. This on top of the UAW saying that any bailout money from the government can go towards the health car plan buyout GM finally negotiated with them last year and the money that GM does not have to pay them can be used for the merger.
Then, here come Jesse Jackson Junior saying that a government “of the people, for the people, by the people, has to do something to prevent the loss of thousands, possibly millions of jobs”. OMG. I thought they might have waited long enough to let the ink dry on the ballots. It seems that what he meant was a government “of the people” (end of quote) will impose its will just because it can, not because there is some compelling state interest or economic benefit for the government, just because it can.
My question is what are they going to want to do when they appoint Robert F. Kennedy Jr. Head of the EPA and he destroys 1/2 of the 135 million jobs we have in the country with a rabid, psychotic Gaia worshiping agenda. Will they then cry “we need to bail out the coal-fired electrical plants, we need to bail out the steel companies, we need to bail out the home builders because they cannot build a 1600 s.f. house anymore because it costs 1.5 million dollars to do so”? Or will they just say, we are going to bail them all out….just because we can?
As for Wilbur Ross, I am at a loss. This is a man that has made his fortune taking the wreckage of badly run companies, and resurrecting them into functional entities with real economic value. If he was so convinced that the proper role of government was to do the very thing he made his fortune on, what w=as he doing, stealing opportunity from the government? Or, could it be that maybe he or some of his friends at Cerberus Capital are about to take a beating on Chrysler because they made a stupid, imprudent bet and they figure since everyone else is lining up not for “theirs” but for yours and mine so they might as well.
Remember this quote:
Democracy never lasts long. It soon wastes, exhausts and murders itself. There was never a democracy that did not commit suicide. – John Adams