The whole sad affair with General Motors, the federal bailout and now the Presidentially-orchestrated dismissal of the company’s CEO, strikes a little bit closer to home with me. I grew up in southeast Michigan. My dad worked more than 30 years for the automaker. Many, many people I knew worked for GM or one of the contract suppliers. GM was a significant part of a way of life.
So after yesterday’s announcement, please forgive me if my head is still spinning this morning. I’m not quite able to put it all into words, but thought I’d give it a first crack.
Of course, the firing of CEO Rick Wagoner and the Presidential-backed car warranty are predictable outcomes of the initial bailout I have opposed from the beginning. But because of my upbringing, what otherwise would be greatly disturbing to me (and yes, a sign of “the end of America as we know it”) in the abstract therefore has a more existential impact.
Can this really be going on? I’d probably have a similar reaction if the automotive giant was allowed to go bankrupt, or even belly-up. But at least then there would be hope for a healthy free market to recover, rather than the ever more terrifyingly real prospect of Government Motors and the Pelosi GTxi SS/RT Sport Edition.
(Has anyone thought to Photoshop Obama’s face on the picture of a stereotypically slimy used car salesman in a plaid suit? That I’d like to see.)
I plan to visit Michigan sometime this summer. They say you can never really go home again. In this case, I’m pretty sure I’ll recognize it even less.
Hal says
3/31/2009 at 9:16 amIt was interesting to watch yesterday how Wall Street reacted to the news of Wagner’s government led extortion force out. I was watching gold too with the widget http://www.learcapital.com/exactprice and even it bumped up in what I figured was fear of what this new government control meant.
The whole idea of the government going in to the auto warranty business nearly made my head explode when Obama was talking about it. Can you imagine the paper work to get a car serviced? It’s crazy. It’s just adding to the deficit.
I think the next shoe to drop is going to be the commercial real estate market. Banks are in a big way in that market so, I’m looking for that to be the next big crisis.
S Jones says
3/31/2009 at 3:59 pmHere ye go, Ben. YEEEEEEEEEEE-HAWWWWWWWW!!!
http://www.dixienet.org/rebellion/2009/03/obama-sacks-wagner-gm-ceo-how-should.html
S Jones says
3/31/2009 at 11:09 pmJust in case you think I’m not serious, even though the State of Michigan might not be there yet:
http://coloradoconfederatarian.squarespace.com/journal/2009/4/1/a-crisis-of-legitimacy.html
We have a growing Tenth Amendent Resolution movement, a “Tea Party” movement, all sorts of important talking heads who’ve openly expressed their shock at the extent of the Dems’ power grab, an economy that threatens to implode any day, guns and ammo disappearing into the Middle American woordwork, and millions of American gun owners who are giving the Feds the bird and saying “Molon Labe.”
And all sorts of people, Southerners and Northerners alike, wondering alound about secession.
I’d a crisis of legitimacy is in the offing, if not already here. What do you say, Ben?
Comments, Ryan?