So . . . mmmmmmm . . . who's going to invest in auto companies in the future?

With Obama throwing out corporate law and bondholders being raped at every turn, just who in their right mind will ever invest in an auto company (or any large company now dependent on the government for their survival) in the future?  Answer??  No one.

Washington's Short-Sighted Action May Haunt Unions

As General Motors teeters towards bankruptcy, with a looming deadline of midnight tonight for bondholders to agree to a stock swap, Reuters reports that the talks don't look promising. The Wall Street Journal got the scoop regarding how the unions will shake out in all of this: very similarly to how they did with Chrysler. This seemingly good news for unions might actually turn out to harm them.

But I thought taxes were supposed to go down???

Didn't the Big "O" promise that 95% of folks in the US would pay less in taxes??  How does a national sales tax keep that promise??

Once Considered Unthinkable, US Sales Tax Gets Fresh Look
Levy Viewed as Way to Reduce Deficits, Fund Health Reform

By Lori Montgomery
Washington Post Staff Writer
Wednesday, May 27, 2009

With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.

Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.

I love that last part (highlight and italic added by yours truly).  The fiscal calamity is not being CAUSED by the policies - it is the failure to PROVIDE money FOR the policies that is causing it.  I keep waiting for a glimmer of hope the the people of this country will wake up before it's to late.  I see nothing.

Shocked!! Shocked I tell you!! Tax Revenues are Dropping!! How can that be???

Something shocking happened while the Democrats were gutting our economy, their tax revenues dropped.  Who could have predicted such a surprising outcome???

IRS tax revenue falls along with taxpayers' income

By John Waggoner, USA TODAY

Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.

When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. "It illustrates how severe the recession has been."

For example, 6 million people lost jobs in the 12 months ended in April — and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.

"These are staggering numbers," Lynch says.

Big revenue losses mean that the U.S. budget deficit may be larger than predicted this year and in future years.

China warns Federal Reserve over 'printing money'

Wow, this says it all.  Communist China is warning our Fed to stop printing money.  Hell, even they get it!

China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed's direct purchase of US Treasury bonds.

By Ambrose Evans-Pritchard
Last Updated: 1:52PM BST 27 May 2009

Comments 0 | Comment on this article

Richard Fisher, president of the Dallas Federal Reserve Bank, said: "Senior officials of the Chinese government grilled me about whether or not we are going to monetise the actions of our legislature."

"I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasuries. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States," he told the Wall Street Journal.

RED ALERT: Did anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?

Taking out political enemies via dealership closures?? Nah, no one would ever think that this administration would do such a thing! I'm sure it's just a coincidence. Obama is here to save us not to take retribution. No, really!

RED ALERT: Did anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?

A tipster alerted me to an interesting assertion. A cursory review by that person showed that many of the Chrysler dealers on the closing list were heavy Republican donors.
To quickly review the situation, I took all dealer owners whose names appeared more than once in the list. And, of those who contributed to political campaigns, every single one had donated almost exclusively to GOP candidates. While this isn't an exhaustive review, it does have some ominous implications if it can be verified.

Update:

Does Obama have a car dealer enemies list?

Additional information on the Chrysler closings - seems there are more than a few successful, high-profile Republicans and Libertarians on the closing list whose dealerships are growing - not shrinking. Things that make you want to go hummmmm! Surly the MSM will jump on this apparent abuse of power!!

Update 2

They really couldn't be this stupid, could they?

Way back in the 1960s, Chrysler Corporation had a very successful ad campaign for its Dodge Division, portraying their Dodge dealers as “the good guys in the white hats.” Some ongoing research about the way the closings of Chrysler, Dodge and Jeep dealerships are being handled indicates that the Obama administration might think that some of the “good guys” are much better than others.
Since Doug Ross reported that many of the dealers on the list of Chrysler outlets to be closed were donors mostly to Republicans, attention has now been focused on the list of dealerships which are slated to remain open. Some preliminary findings, as well as related news, have bombshell potential.

Update 3

(H/T GatewayPundit)

Even GOP Congressman Loses Chrysler Dealership ...Plus Peoria GOP Supporter Losing "5 Star" Business

More Hope and Change...
** Earlier it was reported that the Obama Administration may have targeted GOP donors in deciding which Chrysler dealerships would have to close their doors.
** Last night it was discovered that a Big Dem Donor Group was allowed to keep all 6 Chrysler dealerships open.... And, their local competitors were eliminated by Obama's task force.
** The closings also tend to be in "Red" Counties where Obama lost.

Now this...
Rep. Vern Buchanan (R-Fla) lost his Chrysler dealership in Florida.

Update 4

Is Obama closing GOP car dealers?

By: Mark TapscottEditorial Page Editor 5/27/09 9:36 PM
There appears to be a side to the Chrysler bankruptcy that has the look of an ugly partisanship not seen in this town since Tricky Dick was in the White House composing his enemies list and checking it twice every night while watching the evening TV newscast.

The Protest Of A Patriot - Forbes.com

Is this Obama’s plan, scare business into submission??

The Protest Of A Patriot

Peter Robinson, 05.22.09, 12:01 AM EDT

Clifford Asness takes on Barack Obama.

Clifford Asness

"I run an approximately $20 billion dollar money management firm," Clifford Asness explained in a note that he circulated to friends and investors earlier this month. The note criticized President Obama's economic policies. Despite his company's assets, Asness continued, "I am indeed fearful in writing this. It's really a bad idea to speak out. Angering the president is a mistake."

A graduate of the Wharton School and the holder of both an M.B.A. and a doctorate in finance from the University of Chicago, Asness worked at Goldman Sachs ( GS - news - people ) before founding his own firm, AQR Capital Management, more than a decade ago. If he isn't worth millions, Asness hasn't been applying himself. Afraid? A man who could barricade himself in his mansion behind pallets of hundred-dollar bills?

Moneynews - Video: Federal Reserve Cannot Account for $9 Trillion

Excuse me??  They can't account for $9 TRILLION???   $9 TRILLION???  I say again:  Not A Single Cent more to these people!  Nothing!!

Video: Federal Reserve Cannot Account for $9 Trillion

Tuesday, May 12, 2009 12:30 PM
By: Julie Crawshaw
Article Font Size

The Federal Reserve apparently can't account for $9 trillion in off-balance sheet transactions.

When Rep. Alan Grayson (D-Orlando) asked Inspector General Elizabeth Coleman of the Federal Reserve some very basic questions about where the trillions of dollars that have come from the Fed's expanded balance sheet, the IG didn't know.

Hemorrhaging – Especially Uncle Sam « Maenianum Secundum

Knock-knock.

Who's there?

John.

John who?

John Gault!

Hemorrhaging – Especially Uncle Sam

Posted on May 10, 2009 by Herself

There are various entities in the Federal government that look at the financial status of the government (OBM, CBO, etc).  ”Budget” is simply a prediction of future spending and receipts, and whether or not it is balanced is determined by what actually happens, not what is forecast to happen. 

Finding a Doctor Who Accepts Medicare Isn’t Easy - NYTimes.com

Our future under Obamacare.

Doctors Are Opting Out of Medicare

Finding a Doctor Who Accepts Medicare Isn’t Easy - NYTimes.com

By JULIE CONNELLY

Published: April 1, 2009

EARLY this year, Barbara Plumb, a freelance editor and writer in New York who is on Medicare, received a disturbing letter. Her gynecologist informed her that she was opting out of Medicare. When Ms. Plumb asked her primary-care doctor to recommend another gynecologist who took Medicare, the doctor responded that she didn’t know any — and that if Ms. Plumb found one she liked, could she call and tell her the name?

It’s official. TARP is just theft. « Fabius Maximus

Were you aware that the $750 Billion TARP program has grown to nearly $3 TRILLION - without congressional debate?  Were you aware that banks receiving funds are not accounting for their use?  I know, I know - of course you are - it's a government program.  Anyway, interesting details, just follow the link.

It’s official. TARP is just theft. « Fabius Maximus

Dem Congresswoman Admits Obama Health Care Plan Will Destroy Private Health Insurance Industry

“I know many of you here today are single payer advocates and so am I … and those of us who are pushing for a public health insurance don’t disagree with this goal. This is not a principled fight. This is a fight about strategy for getting there and I believe we will,” Rep. Jan Schakowsky (D-IL) told a group of government-run health care supporters on April 18.