DETROIT – Along with harsher demands, President Obama offered support Monday for General Motors Corp. and Chrysler LLC, hoping to soothe consumers’ fears about buying new vehicles from automakers teetering on the brink of bankruptcy.
The main source of support is the Warranty Commitment Program, which has been designed by the Treasury Department to ensure that customers buying a new vehicle will still have a warranty even if GM or Chrysler slides into bankruptcy and is forced to restructure — or, even worse, liquidate its assets. Source MSNBC… not a particularly mainstream news source… at best they would be considered far left of center… so if these so-called reporters wrote the above, it is far worse than depicted.
Doubt we are becoming socialists? First we had bailout, then firing of CEO, now the government is getting into the auto warranty business. What next? How the Obama Adminstration has handled GM and Chrysler should cause all Americans to shudder. There is no grey area here in defining the economic principles being applied to this situation. The principle is “textbook” socialism. Even the dumbest of our citizens should be able to discern the difference in economic principles.
Capitalism would have allowed both companies to reorganize under bankruptcy laws, and emerge financially stronger and more competitive. Bankruptcy would have led to needs for many trained workers and would have given GM and Chrysler the ability to compete anywhere in the world. Instead, we have let a naive elistist pointy headed girl scout cookie bake sale organizer President, who has never held a “real job” define our economic model? In his world, everyone is equal, losers are propped up at the peril of winners… ultimately destroying the very spirit of innovation that has made the former USA the leader in all areas of creativity and inventiveness. People, I beg you to WAKE THE FUCK UP!!!
So in short 87 days, two of the former USA’s most widely recognized name brands, have fallen prey to socialist doctrine. Be concerned… your industry may be next. Your company may be next. YOU MAY BE NEXT…