Monday, December 15, 2008

Salvage the Pieces of the Big Three; Don't Try To Patch the Broken Egg

The blog author would like to sincerely apologize for the very long hiatus in which our beloved readers were forced to endure a very long wait. We would like to inform you that we will now be posting a blog every 2-3 weeks in order to keep up with our current events.

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This writer wishes President-Elect Obama success in his endeavors and will give him the benefit of the doubt for sincerity. However, we also wish the best for our children, which come first. Obama’s task will be difficult if he stands on principle, impossible if he does not. What seems to appear easy for him will bring disaster to the American people. Hopefully the new President was taught and will remember the common sense of nursery rhymes; else he may lock us in an endless nightmare of depression with rising costs. Obama tells us he believes he has the power to fix the economic crisis, but Mother Goose says otherwise; he must realize he does not, and he should not try or he will destroy the capacity of our great system to purge itself, and to restart.

Every bailout is an abuse of the laws of nature, theft of the consumer’s stored wealth, and must be repaid with our sweat and tears. Bankruptcy is the right course for the automakers if they cannot arrange their own financing. General Motors, Ford, and Chrysler are brick and mortar with questionable and expensive managements. Their great plants with workers, inventory, and technology will not go away if they admit failure. The courts will decide who gets paid and who does not, the time honored way to settle the matter, and someone will take over these great enterprises and produce if there are buyers left. Those who beg for aid are the managements who gave us the Hummers, Escalades, and Expeditions.

Our Congress wants them to submit a “plan” for use of the bailout loan money. Only Congress would be so gullible as to trust their plan. Why should this failing management be rewarded with loans that will be paid by the consumers in higher prices? Mr. Obama should listen to Mother Goose, who said of the broken egg:

“...all the King's horses and all the King's men, couldn't put Humpty-Dumpty together again."

Let us hope President Obama's grandmother explained that old English rhyme to him. We must ask, does the new President-Elect understand the process by which trillions of dollars are now flooding our economy from the top? We repeat, the only company that he should nationalize is the one printing the money, the Federal Reserve System, who refuses to tell Congress to whom they are giving money.

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