Posted on June 2nd, 2009 at 10:32am by bile
Tags: America, american capitalism, bankrupt, bankruptcy court, bankruptcy protection, Barack Obama, capitalism, chrysler, Detroit, Ford, General Motors, General Motors Corp, government, mish, money, nationalization, restructuring
http://finance.yahoo.com/…
In a defining moment for American capitalism, President Barack Obama ushered General Motors Corp. into bankruptcy protection Monday and put the government behind the wheel of the company that once symbolized the nation’s economic muscle.
The fallen giant, the largest U.S. industrial company ever to enter bankruptcy, is shedding some 21,000 jobs and 2,600 dealers. Sparing few communities, the retrenchment amounts to one-third of its U.S. work force and 40 percent of its dealerships.
“We are acting as reluctant shareholders because that is the only way to help GM succeed,” Obama said of the temporary nationalization of the 100-year-old company.
Obama lauded what he called a “viable, achievable plan that will give this iconic American company a chance to rise again” as GM followed Chrysler LLC into bankruptcy court. Of Detroit’s “Big Three” automakers, only Ford Motor Corp. has avoided bankruptcy restructuring and has not taken federal bailout money.
H/T to Mish for the comparison and therefore title.
Posted on January 16th, 2009 at 9:50am by bile
Tags: America, bankrupt, Barack Obama, Bill Anderson, CNN, constitutional amendments, etatism, fascism, George Will, god, Greek temple, jail, Jefferson Memorial, Keynesian economics, Keynesianism, Lincoln Memorial, Peggy Noonan, republic, statism, USA, war, Washington DC, worship, your rights
http://www.lewrockwell.com/…
Hail the Eternal Regime!
Posted by Bill Anderson at January 16, 2009 07:15 AM
Peggy Noonan, one of the dinner guests of George Will the other night, has decided that gushing over Obama is not enough. No, she must gush over the entire regime and its symbols.
Today, she writes of seeing these monuments and other Greek temples in Washington and gets teary-eyed:
Flying in, we take the route over the Lincoln Memorial, the Jefferson, the Tidal Basin: the signs and symbols of the great republic. And you’ve seen it all a thousand times but you can’t stop looking, and you can’t help it, your eyes well. After a minute you realize you must have a moony look on your face, and you lean back.
Yes, the Regime that has bankrupted the county, jailed millions, started wars abroad, and violated every principle of decency, must be worshiped. It is our god, our very sustenance.
I will be so very happy when this Obama and State worship stops and reality sucker punches people in the face. Between this and the Keynesian love fests I hear on CNN daily (it was particularly bad this morning) I’m starting to become physically ill.
Hopefully it slows up after the 20th.
Posted on November 25th, 2008 at 3:27pm by beetlbumjl
Tags: bankrupt, insolvent, mish, nj, state pensions
From Mike Shedlock / Mish’s blog on Global Economic Trend Analysis:
The state of New Jersey is insolvent. Bankrupt might be a better word. New Jersey is $60 billion in the hole on pension funding and the Governor is planning on skipping payments in a “pension payment holiday” until 2012 so as to not increase property taxes. To top it off, the ongoing plan assumptions are 8.25%. Sorry NJ, that simply is not going to happen.
Head on over to his blog for his entire analysis, which is several pages long and links to a few Star Ledger articles.
