As President Barack Obama and his leftist allies in Congress spend trillions in taxpayer dollars in the span of just a few months, it is important to remember that the left is no enemy of big business. The left LOVES big business. Who else could possibly pay huge corporate taxes and make payroll on exorbitant big labor contracts? So as the Obama administration both makes it harder for Detroit to turn a profit by mandating fuel efficient cars, and then turns around gives them more bailouts, remember, this is …
For the next few days, weeks and probably years, we’re going to hear a lot about what caused the financial crisis and led to a $700 bailout. And we’ve already heard presidential nominees, Members of Congress and political analysts blame free markets and deregulatory policies over the past 8 years. Using free markets and deregulation as scapegoats couldn’t be farther from the truth. Let’s see why. Here’s Sebastian Mallaby’s take: Financiers did create those piles of debt, and they certainly deserve some blame for today’s crisis. But was the financiers’ …
Automobile sales have plummeted across the board for the month of September. Not only were sales down for Chrysler (33%), General Motors (16%) and Ford (34%), but Asia-based brands Toyota, Honda and Nissan fell 30% over the course of the month. Sales in European and Asian markets are down as well. Can we blame the credit crunch? That’s certainly part of it. Todd Greenbaum, general sales manager for Castle Hyundai in New Castle said, We’ve had people with what seemed like OK credit, but we still couldn’t get them a …
