Last week, General Motors finally declared bankruptcy. Many in government thought $20 billion in taxpayer dollars would save the company, but as predicted, it only postponed the inevitable. The government will dump another $30 billion into GM and take a 60 percent controlling interest for it. Public officials are now involving themselves in tactical business decisions such as where GM’s headquarters should move and what kind of cars it will build.
The promise that this is temporary and will eventually be profitable is supposed to ease the American people into accepting this arrangement, but it is of little comfort to those who remember similar promises when the American taxpayers bought Amtrak. After three years, government was supposed to be out of the passenger rail business. 40 years and billions of dollars later, the government is still operating Amtrak at a loss, despite the fact that they have created a monopoly by making it illegal to compete with Amtrak. Imagine what they can now do to what is left of the great American auto industry!
In a truly free market, GM would get your money one way and one way only – by selling you a car you want, at a price you are willing to pay. Instead, the government is giving public money to a private company in spite of the market signals it has been sending. Throwing money at GM does not stop it from being an engine of wealth destruction; on the contrary, it simply gives it more wealth to destroy.
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Had it been allowed to fail naturally, the profitable pieces of GM would have been bought up and put to good use by now. The laid off employees would likely have found new jobs and all that capital would be in private hands, reinvested in companies that produce products demanded by consumers. Instead, we are all poorer now.
Political pressure, rather than the rule of law, is deciding how to divide up the remains of GM. The bondholders had billions in retirement savings invested in the company, and though they were entitled to nearly three times as much as the United Auto Workers, the bondholders were left with just a 10 percent stake compared to the union’s 17.5 percent stake. For their 60 percent stake, taxpayers have a future of constant bailouts to look forward to.
Comingling public control of private business is known as fascism. While today’s politicians may feel emboldened with all their new power, history will only repeat itself as all this collapses on itself. It is the height of hubris for bureaucrats and politicians to attempt to control the market and the freewill of the American people. In the end, the market always wins out. Maybe one day future generations will wise up and allow free markets to function and thrive without the albatross of government around its neck. For now, it looks like those in charge have not learned the lessons of the past, and have doomed us to repeat those mistakes once again.
June 10th, 2009 at 5:26 am
The Americans will only be pushed so far before they start revolting. I think the New World Order has already missed their chance to succeed. They should have moved back in 2006, but they hesitated.
On a lighter note, here is a funny take on big brother: http://www.unconditionalfriendship.com/?p=279
Let’s all have a laugh for a moment, eh?
Jim Lunsford Reply:
June 10th, 2009 at 9:03 am
I don’t think the danger is anywhere near out of reach as you propose. They still control MSM, and many people do still read that for their news. Many still believe there are two parties and back them vehemently, many still believe our government is looking out for us to some extent, many still back the wars in the middle east, as evidenced by the large number of troops over there, ad naseum. Though particular circles of friends may be aware of what is going on, the vast majority of americans have no fucking clue. But, I did enjoy the beaver link!
June 10th, 2009 at 6:10 am
(Rev 18:19) And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas, that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
June 10th, 2009 at 6:11 am
> The Americans will only be pushed so far before they start revolting
Oh really? Where exactly is that point? I’d have thought it was numerous lost rights and tens of trillions of dollars ago. Americans don’t have to be pushed much before they complain, but revolt? I’ll believe it when I see it. When people still think voting for the same 2 parties that have run the country and taken away our rights 1 by 1 for the last 150+ years will make a real difference, actual revolt is far away.
June 10th, 2009 at 6:31 am
Well, the other example you could look at is Conrail. The gov’t took over a handful of bankrupt railroads in 1976, operated them for 20+ years while streamlining the businesses, and then sold them back into the public sector for a ton of money.
It is a great example of how the gov’t can bailout, revive and return a vital business to the private sector.
June 10th, 2009 at 6:32 am
It appears that, for all the information AGAINST obama, he still continues on as if nothing will keep him from his appointed mission. Yes, appointed, not voted upon.
The ‘Art Of War’ is an interesting read, and the war is against US!
June 10th, 2009 at 6:37 am
“Change We Need” = fascism? Talk about a complete sell-out! But his constituents are completely brainwashed so I don’t think they know up from down.
He put NONE of the people who voted for him in office. Instead he stacked it with the same old CFR globalist Zionist cabal. NOTHING CHANGED.
No one is getting prosecuted except Bernie Madoff, and he turned himself in to save his own life. Gitmo is still open. Torture is still happening, rendition flights continue, Iraq and Afghanistan are more occupied than ever, and now this unconstitutional GM crap.
June 10th, 2009 at 6:52 am
Thank you Dr.Paul.
You are a true hero.
You are the only honest politician i have ever seen.
I am honoured to live in this time to watch the changes you will bring about.
June 10th, 2009 at 7:13 am
Sorry, Congressman Paul, but I really don’t see how Amtrak has anything to do with this.
From the start, the government intentionally set Amtrak up to fail, which is why it is still operating with essentially the same technology it did 50 years ago, while the rest of the world has high speed bullet trains.
The last thing either the oil or automotive industries want to see is a popular form of mass transportation that is more efficient than a car & uses no petroleum, and these very industries are the ones behind this bailout for Detroit, just as they’ve done everything they could to stifle any chance of Amtrak becoming a viable competitor over the years.
June 10th, 2009 at 7:18 am
Check out my video if ya havent seen it yet…
Down the Conspiracy Rabbit Hole: A Trip With Pink Floyd
http://www.youtube.com/watch?v=BbWTj16kb5U
June 10th, 2009 at 7:36 am
“Whatever amount is taken from the community in the form of taxes, if not lost, goes to
them in the shape of expenditures or disbursements. The two – disbursements and taxation -
constitute the fiscal action of the government…( people who masqueraded as the so-called “government” could be more accurately described as fraudulent impostors or a “secret band of thieves, robbers barons and murderers.”)
Such being the case, it must necessarily follow that some one portion of the community
must pay in taxes more than it receives back in disbursements, while another receives in
disbursements more than it pays in taxes. It is, then, manifest, taking the whole process
together, that taxes must be, in effect, bounties to that portion of the community which
receives more in disbursements than it pays in taxes, while to the other which pays in
taxes more than it receives in disbursements they are taxes in reality – burdens instead
of bounties. This consequence is unavoidable. It results from the nature of the process,
be the taxes ever so equally laid…
The necessary result, then, of the unequal fiscal action of the government is to divide
the community into two great classes: one consisting of those who, in reality, pay the
taxes and, of course, bear exclusively the burden of supporting the government; and the
other, of those who are recipients of their proceeds through disbursements, and who are,
in fact, supported by the government; or in fewer words, to divide it into tax-payers and
tax-consumers.” John C. Calhoun
Taxes are not just about money. Every tax represents a transfer of power and freedom from the people to the government. The underlying premise of every tax is that the money will do more good in the hands of government than in the hands of the people who earned it.” Linda Bowles
“One man’s larceny is another man’s distribution of goods” Robert Bork
Gary.Allen.-.What.a.Way.to.Run.a.Railroad.(railroad.monopoly.in.America & World Wide)(1976)
June 10th, 2009 at 8:58 am
all they want is to know what there up against when the time comes to disarm american slaves/american people its going to happen soon bet on it !
June 10th, 2009 at 9:33 am
One must wonder and ask the following questions?
Who are the criminals that are helping out GM,Chrysler and the Banks in a mass bailout effort that only hides a sad truth behind all that smoke screen we call ”appearence” An illusion that is hiding the biggest robbery of all times.
And these criminals think we will be paying for this with interest added to all the insult?
No way!!!! The fachists better start planing to leave this planet and fast. Reality is about to show them they will not have it there way.
Where did the gold that was in the towers (world trade Center) go to?
Where did all the money go ? Enron, and in Canada Norbourgh, Caisse de dépôt, also gold has desapeared in Ottawa they are now investigating this!!!!!
We are not all ignorant and blind, many can see what scam hides behind the income tax system and abuse. Many can see they waste more money in military and destruction than helping humanity. Many can see the scam with the pharmaceutical multi nationals that are more interrested in seeing there bank accounts grow than finding cures to deseases.
The abuse is nearing the end, why? because people are waking up from the brainwash slavery world thay have been kept in and will not play this game no more.
That is why!!!
People are realizing : ”what do we have to loose? ”They are killing us anyway better stand up to them and show them this will not be tolerated no more. Some might beleive this must be done in violence? but many will realize that violence isn’t necessary. We must just be wise and stop giving the power to those who abuse of it. GM, the banks, Ford,Mercedez,and what ever fricken multi national that controls our governments and are part of the corruption take part in including the military industrial complex, these criminals are the true terrorists of our planet. They are the one’s abusing humanity! Look at the money the bailout is giving them? and this bailout isn’t preventing bankrupsy is it? Who do you think is going to be left to pay the bill of this bailout if we let them have there way?
We are not slaves and we will never again submit to this abuse.We must all learn to return to the traditional ways smaller communities, no more monopolistic industries like wall mart or what ever big buisiness that kills the small hard working man and woman. The few get rich while the majority are slaves?????? Nope this is about to end.
All the money that you criminals waste in financing wars,violence,terrorism would resolve most of the famine on this planet.
The MO of criminals is devide and conquer but this will be soon replaced by:
Unite,create peace in a better loving world and kick the criminals out of power.
Isn’t it time the majority of humans on this planet stood up the the bullies?
We all know they are cowards and have no respect for life.
THey have brain washed the people to believe that courage is to enroll in the military and fight for the country!!!!!! but the fighters are fighting an evil concept called WAR.
They manipulate people to think that liberties and freedoms are at risk and we seem to abide to the fear create illusion.
I finish this blog with:
We are all free humans from birth, we must realize this and believe it for if we do not beleive it how can we expect others to?
Peace and Love to all loving humans. And may the light guide wisdom and courage on your path.
June 10th, 2009 at 10:34 am
Quotation by Alex Jones:
“Chocks Away For The Second Annual Infowars Moneybomb!”
How fucking sad this piece of shit, Alex Jones, has to beg money from his naive, intellectually depraved, financially destitute constituency (truthers) to upgrade his office. What a money grabbing rogue criminal Alex Jones is; worse than those he claims he is fighting against. With all the money he has and makes, I can’t believe that cowardly, corrupt piece of shit has to beg from his financially depraved constituency.
redhawk Reply:
June 10th, 2009 at 1:02 pm
I’m not naive, intellectually depraved, or financially destitute but I will donate a small amount because I have learned alot from his website. Your style of writing indicates either jealousy or ignorance but if it makes you feel better about yourself then Alex has helped you too!!! I suggest you also donate.
June 10th, 2009 at 1:47 pm
Also, if you don’t donate, Alex Jones will kill your family.
June 11th, 2009 at 3:49 am
The true fascism within America comes from its Christian extremist base. The heartland states are kept in a fundamentalist regression exactly like the Taliban does but with the islamic religion. The many billions of dollars allocated to so-called “faith-based initiatives” under the Bush administration and further supported by the Obama administration serve the purpose of generously compensating the tax-exempt shepherds to continue the brainwash at full speed.
Recently a Kansas doctor who performed late term abortions was shot to death while he was in church. The Christian right wing has actually come out to openly support this murder and marks a historic elevation of domestic violence from this movement. What next, acceptance for Obama’s assassination? Without a doubt. The problem is that this movement is growing into the triple digit millions at an alarming rate. It is almost as though fascism is growing within this country as a grassroots movement that will eventually become so powerful that it will demand a militaristic, patriarchal Christian fundamentalist form of rule and it will then be said that “the people” have voiced their desire for such a dictatorship, perhaps swayed by another false-flag “arab” terrorist act. You must also remember that these people are godless as they worship Jesus Christ as their savior and not God. Jesus was a Jew. By that logic, all Jews become holy saints, and thus the unwavering support for Israel is born. Israel is a constant hotbed of false-flag “arab” attacks staged by the IDF to motivate its fundamentalist Zionist populace toward its political goals of expansion and control over the Middle Eastern region. Remember that Hamas is a democratically elected party in Palestine, the true Israel, and very shortly after that election “unidentified” rockets began to hit Israeli settlements and Zionist media labeled these as originating from Hamas. It is not difficult for Israel special ops to launch a few rockets at their own settlements once in a while to ensure the hateful exchange of revenge killings across the borderline do not cease to a point where military operations are no longer a viable option.
Please follow-up by searching for lectures given by Christopher Hedges on youtube. Chris Hedges has been a military correspondent for over 20 years and is an ordained minister with many insightful views on the Christian right, and US foreign policy. Perhaps his words will motivate you to resist the new world order.
June 11th, 2009 at 8:43 am
Alex Jones is a god. Sorry haters, the proof is in the pudding. while your sitting around being mind fucked and brain washed, people like the honorable Mr. Jones is doing something about it. If you aren’t a part of the solution, your a part of the problem. Knowledge is power and with the help of Mr. Jones and others like him a lot of powerless people are finding the courage to stand up and speak out. What have you critics done for humanity?
June 12th, 2009 at 7:01 am
I am a bit encouraged lately as I am now hearing more and more people say they are tired of listening to the MSM news! I have been doing all I can to tell the people that what they hear is propaganda and the MSM is only trying to control how they think about things! When someone tells me of some BS they hear on the MSM I call the BS and remind them that the MSM news only put up stories to distract from important issues and ask them when was the last time they heard and real news on the wars that are going on? Then remind them that the MSM prefers to talk about Britney Spears or some other BS that is not really news at all! I do all I can to hurt their credibility and with some it seems to be sinking in now!
June 15th, 2009 at 7:22 am
No Surprise that GM had to sink like the Titanic.. Just the pain and hard work of 300 Million Taxpayers going down the drain.. Whose responsible for that?