Friday, November 14, 2008

More Republican Stupidity

So, it's okay for the governemnt to buy up the high risk products of the banking sysytem meltdown, and it's okay for the government to buy ownership stakes in those same banks(callled socialism the world over), but it's not okay to bail out the three car companies. My, how un-Reagan like of them.

According to the NY Times, Senator Shelby of Alabama said,
“The financial straits that the Big Three find themselves in is not the product of our current economic downturn, but instead is the legacy of the uncompetitive structure of its manufacturing and labor force,” Mr. Shelby said in a statement. “The financial situation facing the Big Three is not a national problem but their problem.”

You see that? The blame is the workers, specifically implying the union workers. Never mind that thirty years ago foreign car makers looked into the future and saw what was coming and started making gas efficient models. Never mind the fact that American auto maker executives decided that gas guzzlers were the future. Oh no. The problem is the line workers. They apparently make too much money. Never mind that compared to the executives, it's a drop in the bucket.

Not to be outdone by a Senator, representative Boehner of Ohio said, “Spending billions of additional federal tax dollars with no promises to reform the root causes crippling automakers’ competitiveness around the world is neither fair to taxpayers nor sound fiscal policy.”

Someone correct me. What are the reforms that the banking industry was held to to receive the bailout funds? Were the products they were selling made illegal? Were the missing regulations re-instated?

So let me submit this. Apparently these Republicans think that the banking industry is a national problem, but the auto industry isn't. But when it comes to calibrating the economy of America, as I recall it from school, the three industries generally used to determine how well we are doing is the auto industry, construction, and big appliances. I guess not anymore. Which is actually true. In case anyone missed it, the Commerce Department now lists financing as roughly 30% of the American economy, and manufacturing at 12%.

And the fault lies with those lousy labor people.

Now ask yourself this. How many people on Main Street are employed by the auto industry, directly or indirectly, and how many are employed by the banking industry? Maybe I'm way out, but I have one banker. On the other hand, I go to at least two different gas stations, I have one mechanic, then there's the tire shop, and the guys at the parts store with the dirty hands. I'll venture to say that means six of them to help me and my vehicle. In my world, auto related people out number bankers six to one.

These Republicans, so out of touch. After another elctoral butt whooping, they are still stuck on dumb.