Perhaps if we send him a chain letter….?

As an American, I now am a partial owner of several banks, a large insurance company, and will soon own a car manufacturer. The madness of trying to socialize the impact, yet inevitability, of failure must be realized by the citizenry soon before it’s too late.

My .02 SGIP

“Professor Steve Hanke, a senior fellow at the Cato Institute in the United States, said Zimbabwe’s annual inflation had soared to 2.79 quintillion percent, a world record in many respects. A quintillion is a figure with 18 zeroes and is a rung above a quadrillion.”

http://www.thezimbabwestandard.com/business/19196-zimbabwe-inflation-at-shocking-levels.html

re: Bruce comment – it isn’t the making of cars, it’s the rage of the retired autoworkers – currently the big 3 (maybe medium 3 is better) employ around 200K – but there are far more retired/bought-out folk out there, and letting the dinosaurs go under is toxic to them, and they are legion

not to forget that many big 3 dealers are long-time political funders in their local markets, and that they have legions of workers too – yeah I know they may not all lose their jobs, but try and tell them that in the current conditions….

If you saw Wilbur Ross Friday, he makes the point that if auto worker wages are 35/hour in Detroit, foreign cars are being built in the South at 17/hour. Well, hell, to Mr. Ross, this lack of competitive labor costs in the Detroit area was reason to bail out these dinosaurs. I would say, if we do, money down a rat hole. They are being beaten by transplanted factories within the borders of the US…..What will change if we give them 50 billion? NOT A THING….