Tag: bailouts

Michigan's population is slowly rebounding, but millionaires may not be sticking around for the state's revival. [Where is the "revival"?]

Despite encouraging economic trends and a booming stock market, the state had 10,000 fewer millionaire households in 2013 than 2012, the Phoenix Global Wealth Monitor estimated in a report released this week.

Reposted from The Mackinac Center for Public Policy in time for Rick Snyder's State of the state address tonight:

Don't Bail Out Detroit with State Tax Dollars

Unfortunately, there may be a hook: A requirement that the state treasury contribute, which would convert voluntary private generosity into a coerced taxpayer bailout.

A state bailout of Detroit is a terrible idea. It creates moral hazard and adds to the overly generous financial support the city has for years received from state taxpayers.

As we have seen recently, the Chinese were subsidized and transferred Battery Technology by Taxpayers through the likes of the MEDC and Federal programs interfering with free markets. It was pretty bad, but ..

It wasn't the first time.

A few days ago, I posted the New Ford Commercial highlighting a REAL-LIFE customer in one of those interview ambush moments who declared he would rather spend his money on a car company that was all American and did not take bailout money.  It was a classic, and the guy frankly represented the best of the US of A, and its disgust with bailouts, government run enterprise, and the corruption spawned in Chicago, that now resides in DC.

It SHAMED those other two other car companies.

It also SHAMED the administration who in their best Venezuelan moments have done all they could to chain private enterprise to their agenda.

If you followed the link above, you'll note its gone.  The video no longer exists at the address, and has been pulled.  Michelle Malkin reports the new "Attack Watch" site, the newest joke of the Obama Administration proudly declares the successes of the bailouts as an answer to the Ford commercial.  undoubtedly, the pressure is on for FORD leadership to get on knees and beg to kiss the ring of an outstretched Obama hand to be sure.  I doubt pulling the ad will be enough to salve the bruised ego of "the won" and his creepy, crony allies.

Hugo Chavez should be so proud of his protege.

H/T HotAir

Back a couple of months ago, we had a few discussions here about the pitiful sales of GM's Chevy Volt, even WITH the monster government incentive.  A $7500 rebate just didn't cut it for target buyers of the electric boondoggle of Detroit's once upon a time premier automaker, and sales are worse than flat.

The profits from said eco-box wouldn't pay for the engineering alone much less the tooling and employee cost.  

However, the employee cost has apparently brought a little fear to the dues collecting part of the team.  So much so, that they have begun to market the volt to a new constituency that is more likely to be swayed by talking green frogs, giant yellow birds, and a fear of drowning polar bears.

Our children.  At our public schools.

It certainly doesn't seem like a success for the taxpayers.  GM stock is about $30 today, and unless it gets up to $54, the taxpayers lose money on the deal.  Why would it go up?  You want to fight high gas prices by buying a Volt?  How does $41 grand a pop sound? And still GM loses money on every one it sells even at that price.  Not only that but we are seeing that government subsidies for electric cars is good tax money wasted in any case.