Saturday, December 06, 2008

Bailout Plus Stimulus Equals Single-Payer Economy

True to our reactionary roots, we lament that yesterday's news included announcement that (a) the present White House came to an agreement with Congress to give/loan/burn $15-17 billion on the Big Three; (b) the future White House is promising the biggest public-works funding ever.

So . . .
  • Despite the fact that innovative, profitable automobile manufacturers operate in the South and Midwest, Uncle Sugar will subsidize static, unprofitable ones, insisting that they become what they are not by getting federal dough.
  • At the same time that the Big Three are being told to make fuel-efficient cars, fuel prices are falling to historic lows at inflation-adjusted levels, and Uncle Sugar is planning more roads to make it even easier to drive long distances quickly, even though the automobile is allegedly killing all of us.
  • A domestic labor force that needs illegal immigrants to do much of its construction work will get billions of newly-printed dollars to do more construction work as a stimulus to the domestic economy.
  • The Obamanoids will somehow manage, per their promises, both to spend the infrastructure money quickly and to spend it smartly.
  • As always, the one segment of the economy that grows during a recession and doesn't shrinks during an expansion is government work.


JB in CA said...

"Biggest public-works funding ever."

A mere two posts ago, we were taught that there's a difference between biggest money-wise vs. biggest percentage-wise. Which will this be?

On a different note, I'm still chuckling over "Obamanoids." It conjures up images of self-styled antiestablishment leftists with brief cases. Permission to use?

Jon A. Alfred E. Michael J. Wile E. SWNID said...

Permission granted, but note that for others the suggested image may be more delicate and uncomfortable.

Anonymous said...

Obama sees himself as a wise and benevolent dictator with unlimited power and political capital. He is only limited by his own vision and his ability to inspire.

He probably has more arrogance than any president since Andrew Jackson (or maybe TR). The only difference: Obama hides it better.

JB in CA said...

In other news, Merrill Lynch CEO John Thain is seeking a 2008 bonus of up to $10 million. He's been Merrill's CEO for all of about two months now. Sources say he believes he deserves the bonus because he helped Merrill avert a much worse crisis (i.e., bankruptcy) by agreeing to a merger with Bank of America. Apparently, saying "Yes, you can take us over" is a very valuable skill. Fortunately, Merrill's board of directors is leaning against the bonus because they think it would look bad, given the financial crisis and all.