DEAD MAN WALKING

This is my Sunday update quickie, so please stick with me for a couple of minutes. But before we do ANYTHING here are news that may not surprise you:
--- Richard Hoover Shelby, Alabamas Senator and top Republican on the Senate Banking Committee, took over $100,000 in money from banks, bankers and insurance corporations and their employees during the 2007/2008 period. I am analyzing the situation and will report on it shortly in more detail.
--- Never in my life have a seen such a collection of enemies of the state, enemies of the public, in one place, ranging from politicians who torpedo clinical trials for a cure for liver failure for money that is - to those who jeopardize the national security by keeping us dependent on foreign oil to be bought from hostile nations you guessed it: for money that is.
--- Alabama Senator Richard Hoover Shelby, better known as Senator from Hell, nearly managed to make our economy a dead man walking by bringing our car manufacturers two steps closer to bankruptcy. --- I am calling him Hoover Shelby not only because he tries to reinstate Hoovers disastrous do nothing policies, but actually looks like him. Hoover Shelbys refusal to provide bridge loans to car makers could easily add another 2.5 million unemployed to the current record 6.5 percent unemployment figure.
--- The current number of unemployed has hit 4.43 million. I dont have reliable data but feel relatively safe by assuming that the average annual salary was at least $24,000. That is a loss of purchase power of over $106 billion per year. Hoover Shelbys attempt to add 2.5 million automotive workers to the roll of unemployed would add another $145 billion purchase power loss to it. Never mind the cash outlay to be paid by tax payers in the form of unemployment benefits that would total some $25 billion.
According to Fortune, the blame is to be shared, though politics play a major role.
--- Now to the bad news. The Energy Department estimates a decline in GDP of 1.4 percent and an unemployment rate of 7.9 percent for 2009. Economists at the University of California, UCLA, forecast a rate of 8.5 percent. --- In Europe, that problem may even be bigger. In Germany, for example the decline in Gross Domestic Product is expected to be 2.2 percent. Germany in its entire existence has never before experienced such a decline. Even in the mid-70s oil crisis the decline was only .9 percent. --- The Daily Mail also reports about what they call Carmageddon. With tens of thousands of cars being stored in green pasture
--- Volkswagen tries to use the US version of Carmageddon, by pushing their somewhat more fuel efficient cars into the U.S. market and trying to increase their market share while GM, Ford and Chrysler fight for their existence. - I hate to tell you that VW is just another corporation that has slept and as of this day done little or nothing to electrify their cars. I mean acted on it, never mind blabbering
--- For those of you who missed my earlier video blogs on the impact the electrification of cars has on national security, here is a comment on Hoover Shelby. How on earth can an elected official be so incompetent not to understand that our dependence on hostile nations for our oil supply makes us vulnerable to a continuations in part of economic disasters?
The car maker bailout was conditioned upon their commitment to electrify their cars. But then, Shelbys colleague Jeff Sessions, also a Republican, just took $5,000 from Chevron just about at a time when Mercedes sued Chevron for restraint of trade. Which was followed by a recusal of the randomly assigned judge do you get it?
But there is a light at the end of the tunnel. At least for today. Daily Mail reports about a builder of a steam-driven car tries to break the speed record for cars driven on hot air. I m serious.
Being that it runs on hot air, one reader commented that the car should be driven by members of their government. Good idea. Picture this, congressmen driving hot air cars
rather than traveling in hot air balloons.
--- Oh, by the way, Siemens, the German super conglomerate, was fined by the SEC $800 million dollars for having been involved in a massive bribery scandal.
I reported about it and published evidence of payments to elected officials in the US
who by the way were not fined.
Thats it for today. Take care.

Category:

News & Politics

Tags:

• HERBERT
• HOOVER
• RICHARD
• SHELBY
• ECONOMY
• UNEMPLOYMENT
• GERMAN
• BRITAIN
• CAR
• MANUFACTURERS
• BAILOUT
• AUTOMOTIVE

[dave777blaster]

but explain your position please, if a bailout goes through how many jobs in the auto sector will be saved there are no sales of cars.

the way I read it is is no sales for cars no jobs.

[bvongrabe]

There are multiple issues. ALL must be addressed. We cannot allow the national part of an entire branch to go out of business with the excuse that there will be no car sales anyway. And we cannot sit back and fall into the Hoover Do Nothing trap suggested by the "it can't be done" crowd. Obama's plan to start massive public works is the first step, more to follow. You just don't sit back and cry!

[EddyvanIke]

Seems like the situation in the US is getting more and more out of hands. Most huge multinational concerns engage in bribery. It is a shame that the US in particular is so inclined towards letting that happen and letting their officials get away with abuse of power. Seems like a whole generation of justices lost their backbone. Sad and disturbing!

[bvongrabe]

Respectfully it is beyond disturbing, it is scary as it means that we have NO constitutional guarantee of meaningful access to courts. What scares me most is that we cannot expect help from the Obama camp, I cannot imagine that he has or will have the power to do anything: virtually near 100% of elected officials solicit and accept bribes to obstruct justice - on both sides of the isle.

[justonefirefly1]

dumbass you should have never let those theiving stealling republicans in because they did all this to our country fuck republicans

[starprincess1952]

Also, what Shelby doesn't tell you is that he got 5 Billion dollars from the feds to "GIFT" to the foreign auto companies in Alabama in the form of tax abatements and incentives.

[dave777blaster]

Well I think Obama has other plans like building the Super naffta Highway

that would create jobs, opportunities and facilitate Chinese goods into the country.

There is no use pretending that this is not in the cards.

[Auggie56]

Time to clean house. And lets start with Obama.