Posts Tagged ‘Bailouts’

From CNBC, via Drudge:

The French politician who said Indian steel company ArcelorMittal should leave the country has told CNBC that his government is only acting like U.S. President Barack Obama.

Industry Minister Arnaud Montebourg, a member of the governing Socialist party, caused controversy last week when he said that the Indian company, which employs close to 20,000 people in France, should leave after it said it would have to close down a factory.

The French government announced on Thursday that it could nationalize the factory in question, with backing from an unnamed businessman.

The news raised the specter of the nationalizations of the early 1980s, which were instigated by Hollande’s predecessor Francois Mitterrand.

Montebourg told CNBC after a meeting with trade unions in Paris: “Barack Obama’s nationalized. The Germans are nationalizing. All countries are nationalizing. I’ve also noticed the British nationalized 6 banks.”

Montebourg is believed to be referring to the takeover of struggling automakers by the U.S. government earlier in the financial crisis.

government_motors

Y’know, when socialists justify their actions by saying the US president is a socialist and he’s nationalizing industries, that’s bad.

That’s like when Pravda says you’re a communist.

Well, any normal individual understands that as true but liberalism is a psychosis . O’bomber even keeps the war going along the Mexican border with projects like “fast and furious” and there is still no sign of ending it.  He is a Communist without question promoting the Communist Manifesto without calling it so. How shrewd he is in America. His cult of personality mesmerizes those who cannot go beyond their ignorance. They will continue to follow him like those fools who still praise Lenin and Stalin in Russia.  Obama’s fools and Stalin’s fools share the same drink of illusion.

Normally it’d be so easy to say “it’s Pravda, synonymous with anti-American lies”, but when international socialists are using Obama as an example of how their nationalizing policies should expand… well… if it walks like a duck and quacks like a duck, and has advisors who are self-avowed ducks, cabinet members that consider ducks their favorite philosophers, and it was raised by ducks, it stands a pretty good chance of being a duck… especially when other ducks are saying “he’s a duck”.

From Businessweek, via Drudge:

To counter the severe slump in European sales, Marchionne is considering building Chrysler models in Italy, including Jeeps, for export to North America. The Italian government is evaluating tax rebates on export goods to help Fiat. Marchionne may announce details of his plan as soon as Oct. 30, the people said.

NLPC explains:

So, let’s be real clear here, we are talking about vehicles that will be built in Italy and exported to America. The evidence is clear that Fiat is looking at ways to move production of vehicles from the US to elsewhere, whether it be China or Italy, costing American jobs. This is becoming indisputable, despite outcries from certain parties to the contrary.

Mitt Romney has rightfully criticized the Obama Administration for handing over Chrysler to the Italians and now leaving the fate of American workers in the hands of Fiat management. Fiat is not a healthy company and the auto industry is in as great a risk as ever. The insistence that all is well by those with political motivations does not mask the danger. More jobs are at risk of being lost and more taxpayer money may be lost as well.

When you look at the economic crisis in Europe, there are five countries that are constantly noted for being in imminent danger of collapse, the “PIIGS” nations: Portugal Ireland, Italy, Greece and Spain.  Italy is historically famous for changing governments at the cyclic rate.  Nothing about giving Chrysler to FIAT, especially when the insured creditors were cut off, often for political reasons, was a good idea.  Italy hasn’t had a stable government since Hadrian, and FIAT certainly isn’t Daimler.

This isn’t just a car company getting taxpayer money and moving its production overseas (which Obama is doing, though he accuses every else of doing it), this is also a big symbolic move.  Jeep is a profoundly American brand, and serves as an American icon.  Their heritage stems from WWII, which the company, the workers, and the customer base are quite proud of.  Chrysler and Daimler working together was one thing, it didn’t work out so well, but it also was a merger that wasn’t orchestrated by government, and production and the company itself were still US-based.  Chrysler being sold to FIAT through government order, screwing over investors including cops and teachers, and Jeeps moving to Italy just flies in the face of the history and traditions of the Jeep brand itself, though I’m sure some people would approve.

Coincidence, I’m sure.

Halftime in America

Posted: February 10, 2012 by ShortTimer in Culture, Dodge Challenger, Politics
Tags: ,

Reagan’s 1984 Morning In America:

And here’s a link to Clint Eastwood & Chrysler/FIAT’s “Halftime in America” on the off chance you haven’t seen it yet.

People keep comparing “Halftime in America” to “Morning in America”.  There’s a superficial similarity, but a big difference.  What was portrayed in “Morning” was going on.  What’s portrayed in “Halftime” is not as presented.

One problem with the whole “Halftime” ad is that in the political context it was taken as – that of being a pro-Obama ad, which it more or less was/became, it just fails.  No matter what the blind applause from the left says, it just doesn’t work.  The “solutions” Chrysler has implemented were basically begging for taxpayer money and then being bought by FIAT, which is now bringing in rebranded Italian cars with US names.  That’s neither an endorsement of Chrysler or Obama.

A commenter on the Huffpo story hits the nail on the head:

…an ad is an ad. An ad, like a movie, is not reality. It is meant to evoke emotion and convince the viewer to suspend disbelief, if only temporaril y. An ad promotes an alternate reality conducive to selling product.

So instead of falling blindly in love with Clint’s pitch, look at the reality of Chrysler: a foreign-ow­ned multi-nati­onal that continues making cars in Mexico and Canada, including some featured (deceptive­ly) in its “Imported From Detroit” campaign. Truth is, you can buy an American-m­ade Honda and contribute more to our domestic economy than by buying many Chrysler models.And the reality of Detroit: still a shell of its former self. GM is making and selling lots in China, helping corporate profits. Says Mayor Bing, “It’s not helping in the city itself right now.” Detroit is facing financial disaster, with possibly thousands more city workers to be laid off and a state-appo­inted emergency manager who would take control, with the city’s fire and police getting another pay cut.

So Mr. Burnett, I’m not buying what you, Obama, Clint or Chrysler are selling unless you show me something to back up the words (like changes in tax code and trade policy that spur domestic private investment­).

What we do have is the Obama administration pushing higher CAFE standards.  With the government dictating what vehicles can be made, we won’t be hearing the roar of any engines.  We’ll be hearing the whine of 4-bangers.  There will be no rumble of mighty V8s when they need to get 50 mpg.  They will simply cease to be.

Chrysler has done a good job in the last few years of making ads that people should like, but that just don’t jive with how they took money from taxpayers and sold out to FIAT, while simultaneously screwing over secured creditors so badly that everyone took notice; going so far as to screw over cops and teachers’ retirements.  And for all the talk of Detroit, the best vehicles Chrysler makes are coming from Ohio and Ontario.  So what does Detroit have to do with it at all?

Meanwhile, parodies abound.  Halftime in America by Reason TV:

By Rush Limbaugh:

I was immediately reminded of this voiceover when I first saw the ad:

Dead FIAT in alley this morning.  Leaking fuel from blown pump.  These cars are afraid of me.  I’ve seen their dyno charts.  Their warranties are extended lies and when the CAFE standards finally catch up to them, all their V8s will die.  The waste and the pull and the politics of all their begging and graft will rise up above their heads and all the multinationals who stole taxpayer money will cry up to me asking for a bailout and I’ll look down and whisper “NO!”