June 4, 2011
More Half Truths
Our beloved Resident of the White House almost told the truth, today. Yes, Chrysler was bailed out. Yes,
they have paid back the actual money they asked for from the Feds [almost - see the stock deal,
below], and the Auto Union is preserved. But,
what he didn't say was that if Chrysler had declared bankruptcy, all of that would have happened, anyway, except for
the preservation of the Union. He also failed to mention that when the fire-sale of the "Givernment"-held stock
is complete, Obama will still owe the American taxpayers another 1 billion dollars which he lost in the stock sale to FIAT,
and we, of course, will have to eat the difference. So, you and I have paid a billion dollars to prop up a union.
You don't have to be Austan Goolsbee to understand this. In fact, you better pray you never turn into Austan Goolsbee.
He doesn't understand it, either. But more importantly, to believe that this junky economic system works, you have
to believe that money has no intrinsic value. Worse, still, to those who have not been following this soap opera,
it appears that the Feds have succeeded, rather than the truth, which is an unconstitutional power grab.
What success there is is a function of natural forces, not of government manipulation. Unemployment remains the same,
or worse than it could have been, had the the Keynesians simply butted out.
Paul Ryan DOES understand it. His quiet truth is far stronger than all the podium haranguing half-truths
coming from the neo-fascists from Chicago. A thug is a thug is a thug.