In previous posts I was vehemently opposed to the Wall Street Bailout.  However, The America Auto Bailout is a completely different matter.

The heart of the troubles in the American Automative Industry have nothing to do with a lack of hard work or ingenuity or skill.  They strictly are related to auto tarrifs.

Tarrifs of 40% were place on foreign SUVs and pickups some years back.

American Automakers, with this 40% advantage in the marketplace, focused almost entirely on SUV and pickups.  Creating the very best in the world. There was no problem with quality or workmanship.  The profit margins were excellent because of pricing benefits from the tarrifs. As long as gas was cheap and consumers kept buying this was a great deal.  

Hyundai, Toyota etc. abdicated this market because they could not compete. They were essentially at a 40% disadvantage from the starting gate.  They focused on small compacts, which of course, now are the big sellers.

American automakers are still the very best in the world. Americans are still the smartest and hardest and most creative workers  They just need to change focus but mainly need to buy some time.

If the goverment steps in it will save a very important industry that finds itself at the precipice from an ill thought out tarrif policy and not from any incompetence by the American worker.

If you had any doubts Nader wanted to harm the dems...look at his schedule the last days of the campaign...all the toss up states.

Allentown, PA - Ralph Nader to Hold Press Conference and Rally 11/01/08

Local Ann Arbor, MI: Ralph Nader Oct 31 10/31/08

Local Minneapolis, MN: Ralph Nader Oct 31 10/31/08

Local Dearborn, MI: Ralph Nader Oct 31 10/31/08

Local Newark, DE: Ralph Nader Nov 3  10/31/08

National Interview Ralph Nader on Election Night 10/31/08

Local Columbus, OH: Ralph Nader Oct 30 10/30/08

Local Cleveland, OH: Ralph Nader Oct 30 10/30/08

Local Toledo, OH: Ralph Nader Oct 30 10/30

Thank God he has been ignored and will end up on the trash heap of history:

Picking on Obama's aunt...that is lame and stupid and backfires.

Murdoch's paper in London exposed it...Murdoch has got less brains than I thought!

Murdoch just made an enemy with the next President of the United States.

Real smart!

Murdoch you better be on the straight and narrow!

Ron's the man!

http://www.huffingtonpost.com/ron-reagan /making-it-official-i-endo_b_139932.html

After all we Reagan Democrats have been through it is Ron's blessing that gives us hope for a truly new America!

In a moment of drama usually reserved for US court rooms, Mr Waxman showed off pictures of the grand staircase, sparkling fountain and white columns at the St Regis Resort in Monarch Beach, California. AIG executives had - according to the congressmen - convened there for a week-long retreat just one week after the US Treasury saved it from certain failure with an $85bn (€62bn, £48bn) bail-out. Bills showed the fallen insurer - and, some argued, US taxpayers - had paid nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.

Bailout is sure helping the economy...NOT!

Can you imagine if Hoover tried to get a massive bailout right before FDR came to power.  

Bailing out his rich friends and leaving the country more broke than it would have been.

FDR would never had a chance to enact his social programs and get the country back on its feet.  

There would be no social security!

Obama, if he wins, will not have a dime for any of his projects. Even he has acquiesed in a truthfully, non-too flattering way.

Democrats are acting like a bunch of spineless fearful critters scared by what?  

A lame duck that quacks like Hoover!

Every time this duck quacks the market goes down.  His dumbfounded and fear peddling visage is like a stock ticker going straight down.  

The fact is the greedy fat catties got their comeuppance!

Paulson lost millions in his trust and his family did too.

This was the most self serving conflict of interest power and money grab in the history of politics.  We cannot trust him and he does not want us to verify.  He has such a little opinion and disdain for middle class americanthat his actions are viscerally repugnant.

The bailout failure is a great day for America.  We should rejoice.

The Bailout had not one provision helping the middle class with their mortgages.  The only way credit will truly flow in the market.  Do no listen to this mumbo jumbo

We were just picking up the tab for the bad investments of some rich wall street execs.  

The free market punishes the greedy.  

Bush, Paulson, and friends were greedy.  

They got us in this mess and only got a few days to try to pick our pockets again.  Pain is finally trickling up and they are finally feeling it.  It is glorious how a free market works!

They are like junkies trying to get their fix again from the public trough.  We must stop them from bringing us all down!

Clearly, markets are going to survive their losses.  

Remember, the rich only get rich if you let them.  

Take a look at exec compensation pay in Europe where it is about 10 to 1 to the lowest paid employee.  In Goldman Sachs it was about 100 to 1.  Paulson made $37 million from commission and bonuses and let us assume his and his lowest paid worker was surely not making more than $37,000.00.  

He wasn't worth it then because his actions laid the groundwork for their demise and he is not worth listening today as his plan will just be a flat out grand theft.

I mean, who in their right mind, buys trash for cash!

Congrats to all who voted against the Bailout.  A shining moment for democracy.

Look at the Asian markets.  There were losses but stabilization.  Hang Seng index fell just 2.4%.  

Consumers are getting an injection of credit at last.  

Where?  

Of all places, Oil!!!  London Brent Crude is down to $91.48.  A 35% percent drop from $147 in July, 2008.  Eventually, this will translate to the pump.  

What the drop essentially is is a fuel rebate direct to the consumers.

Just the beginning of the benefit to middle class.

Do not be frightened by the fear peddlers.  Their time is over.
They are headed to the pasture of lame ducks to count their stock losses which they thought they were going to stick on us!