Quick Hits: December 11, 2008

** Confused by the massive bank bailout? Here's some answers from Hank Paulson to all the questions you were afraid to ask. Be more afraid of the answers.

** America's favorite domestic terrorist and reprobate William Ayers, is still trying to repair his image with incoherent rationales. Stop selling it Billy, cuz no one's buying.

** Bailout and buy from American car companies? There's no such thing anymore other than that they're headquartered in Detroit . What about all the foreign cars that are built here by Americans?

** Here's some cute video of peaceful and tolerant Muslim children being trained as suicide bombers.

** Obama is offering Israel a nuclear umbrella that will respond to any nuclear attack by Iran. Does this means that Obama has already thrown in the towel in preventing these psychos from getting nukes in the first place?I'm sure The Israelis will appreciate the support after they're dead.

** Chris Dodd wants new management at the car companies, saying: “If you are going to restructure a company you can’t be asking the people frankly, many who were involved in creating the problems we’re in, to be involved in restructuring.” Indeed. So why don't you resign, Dumbass! Or are you going destroy the auto industry just like you did with the mortgage, banking and real estate industries?

** The Pro-Palestian (The UN, US & European Left etc.) will tell you they're anti Zionist, not Jew Haters. What does that mean? Not much apparently.

Killing Off Capitalism

WASHINGTON -- Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the U.S. government a substantial ownership stake in the industry and a central role in its restructuring.

Nowhere in the constitution does the government have the right to own the means of production, which is the very definition of Socialism. The management and shareholders are willing to sell their capitalist souls in order to avoid the uncertainty of the bankruptcy courts.

In return their companies will be run by politicians, whose interests do not include sound business practices and the taxpayers will yet again pay the price for their incompetence. Even the French finally saw the folly of a sclerotic government attempting to compete in a worldwide competitive market when it privatized Renault.

Socialism is not only immoral, it never works. But their are always power hungry statists who believe they are the gifted enough to do the impossible.

Most of the cars I've owned have been American. If this Anti-American plan goes through, I wont buy another one again.

This is only the beginning. When Democrats take full control of the Government, we will go headlong down the road to economic destruction and the loss of liberty.

UAW Guilt Trip Ad

Complete with veiled threats and class warfare, the UAW is begging us to use our tax money to save their uncompetitive and unsustainable contracts. They must think they should be excused from the bankruptcy courts by virtue of their sheer numbers, as if everyone Else's job is less important than theirs.

Another part of the UAW's argument is that since we wasted money on a bailout for Wall Street and Fannie and Freddie, then they deserve it as much, if not more.

Let's be clear. Bankruptcy would mean a temporary loss of jobs since the demand for autos wouldn't stop and other companies would quickly pick up the slack and the pieces of the Big Three in a more efficient manner that would benefit everyone.

The only thing these parasite are offering is to take your money and throw it at an obsolete business model that has no chance for survival in a competitive free market.

H/T to Hot Air

Bush Backs $25 Billion To Auto Co.'s

Let's face it. Other than tax cuts, GW Bush has been terrible on economic issues, especially spending. Now he advocates throwing good money after bad with a $25 Billion loan to the Big Three. That's Our money folks.

AP- The White House on Friday threw its support behind a plan to speed release of $25 billion in existing loans to the Big Three automakers but rejected a Democratic proposal to use money from a financial bailout to help the troubled industry

The private sector wont put their money behind these losers for good reason. Their antiquated union contracts make them structurally uncompetitive. Unless a top to bottom restructuring of US automakers is included as a requirement of these loans then all we're doing is delaying the inevitable.

Government bailouts by definition are fraught with moral hazards which in this case has to do with purely political considerations rather than good business sense. This insanity is about preserving the status-quo of unsustainable union contracts. It's also about fear of paying the price of failure that must go hand in hand with success in a free market economy.

The unions have bought off the Democrats in this regard but Republicans shouldn't go along. Bankruptcy will force these companies to re-organize in a more efficient and competitive manner or have their assets sold to better run companies.

Let the private market decide what to do with these private companies. We will all be better off and the taxpayers wont pay the bill to prop up those that deserve and need to fail.