03/30/09

Obama Wields Club on Detroit…

By: Terresa Monroe-Hamilton

Acting more like a dictatorial goon than a President, Obama (without consulting Congress) fired the CEO of GM today officially turning it into Government Motors. He also delivered ultimatums to GM and Chrysler and states he favors a form of bankruptcy for them. GM has 60 days to cut billions from their expenses, or an escalated form of bankruptcy will occur. Chrysler has 30 days to merge with Fiat. So now Obama can fire executives from major corporations and extort major firms into merging. We are beginning to look more and more like Venezuela every day… But don’t worry – he claims the government will cover your warranties. I feel sooo much better now.

I hear that at least 2000 plants will close and that could increase to 4000. Think of the thousands of workers being laid off – lives being destroyed, no scratch that, decimated… In fact, the government feels so bad about it, they are doing a site to handle sadness over the economy. I’m sure that will be of great comfort when those workers lose their homes and see their families go hungry. ‘Let them eat cake…’

From Rush Limbaugh:

“There has always been a line, ladies and gentlemen, which no president would cross, with respect to the distinction between the public and private sectors. Obama has now crossed that line. There is no limit to government’s destruction of private activity or control over it.” – Rush Limbaugh

And another headline from Rush Limbaugh: This Dangerous Democrat Attack on Capitalism Will Get Much Uglier. It’s great and a must read…

What you saw today was no less than a totalitarian smack down on GM. Don’t get me wrong – I believe in free markets and if a company fails, it should just fail. But to dump billions into these companies and then command them as if they were subjects of the King, well it is simply beyond belief. Obama isn’t simply trashing the Constitution, he’s doing a jig on it while fiddling. What a despot and a wanker… He is a true statist and he must be stopped.

03/30/09

Financial News Roundup – 03/30/09

Wall Street Looks Ahead: Inflation vs. Deflation

European Protesters March in G20 Rallies

G20 Activists: Why We are Protesting

Fears Police Tactics at G20 Protests Will Lead to Violence

G20 Protesters Expect Agents Provocateurs

Seven Hours to Save the World

Merkel Warns on Further Stimulus

Ron Paul: is There Any Gold Inside Fort Knox?

The Race to Financial Safety is On

Down the Memory Hole, Alan Greenspan Style

Ninth Georgia Bank Collapses

Stocks Slide as Investors Cash in on March Rally

Soros: Britain May Have to Seek IMF Rescue

Economy Blamed For Jump in Arson Cases

Only United Front at G20 Can Save World

The Dollar’s Days Numbered?

Seven States See Double Digit Jobless Rates

Bank bailout fund down to $135B

Geithner Says Some Banks to Need ‘Large Amounts’ of Aid

China’s Peasants Flee Cities as 20M Jobs Disappear

Largest Ever Cigarette Tax Hits Wednesday