Friday, December 19, 2008

NEWS BRIEF: "Bailout approved: Automakers to get $17.4B", Excite News, December 19, 2008

This today from

"WASHINGTON (AP) - Citing danger to the national economy, President Bush approved an emergency bailout of the U.S. auto industry Friday, offering $17.4 billion in rescue loans in exchange for tough concessions from the deeply troubled carmakers and their workers."
This next sentence is purely Fascism!
"The government will have the option of becoming a stockholder in the companies, much as it has with major banks, in effect partially nationalizing the industry."
In a Fascist Economy, the government owns a portion of the key companies, which gives its officials the leverage to severely regulate every company within the entire economy. We are truly marching toward Fascism, both in economics and in politics.
President-elect Obama immediately signaled his approval of Bush's actions.
"President-elect Barack Obama, who takes office a month from Saturday, praised the White House move. 'Today's actions are a necessary step to help avoid a collapse in our auto industry that would have devastating consequences for our economy and our workers," he said. "With the short-term assistance provided by this package, the auto companies must bring all their stakeholders together - including labor, dealers, creditors and suppliers - to make the hard choices necessary to achieve long-term viability'."
The fix is in! The march toward thorough government regulation of the entire economy is irrevocable; and, the undiscerning Americans are cheering the move to economic and political dictatorship. In the short term, before the planned World War III, Americans will believe that prosperity has returned. Consumer confidence should bounce back rather quickly in the Obama term.

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