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"GM, Amtrak and an increasingly fascist America" by Ron Paul - what do you think?
http://www.house.gov/htbin/blog_inc?BLOG,tx14_paul...
"Last week, General Motors finally declared bankruptcy. Many in government thought $20 billion in taxpayer dollars would save the company, but as predicted, it only postponed the inevitable. The government will dump another $30 billion into GM and take a 60 percent controlling interest for it. Public officials are now involving themselves in tactical business decisions such as where GM’s headquarters should move and what kind of cars it will build.
The promise that this is temporary and will eventually be profitable is supposed to ease the American people into accepting this arrangement, but it is of little comfort to those who remember similar promises when the American taxpayers bought Amtrak. After three years, government was supposed to be out of the passenger rail business. 40 years and billions of dollars later, the government is still operating Amtrak at a loss, despite the fact that they have created a monopoly by making it illegal to compete with Amtrak. Imagine what they can now do to what is left of the great American auto industry!
In a truly free market, GM would get your money one way and one way only – by selling you a car you want, at a price you are willing to pay. Instead, the government is giving public money to a private company in spite of the market signals it has been sending. Throwing money at GM does not stop it from being an engine of wealth destruction; on the contrary, it simply gives it more wealth to destroy.
Had it been allowed to fail naturally, the profitable pieces of GM would have been bought up and put to good use by now. The laid off employees would likely have found new jobs and all that capital would be in private hands, reinvested in companies that produce products demanded by consumers. Instead, we are all poorer now.
Political pressure, rather than the rule of law, is deciding how to divide up the remains of GM. The bondholders had billions in retirement savings invested in the company, and though they were entitled to nearly three times as much as the United Auto Workers, the bondholders were left with just a 10 percent stake compared to the union’s 17.5 percent stake. For their 60 percent stake, taxpayers have a future of constant bailouts to look forward to.
Comingling public control of private business is known as fascism. While today’s politicians may feel emboldened with all their new power, history will only repeat itself as all this collapses on itself. It is the height of hubris for bureaucrats and politicians to attempt to control the market and the freewill of the American people. In the end, the market always wins out. Maybe one day future generations will wise up and allow free markets to function and thrive without the albatross of government around its neck. For now, it looks like those in charge have not learned the lessons of the past, and have doomed us to repeat those mistakes once again.
Did you realize that the so called 'institutional' bondholders were investing people's retirement funds? And were squeezed out of what they were owed?
ginger, government controlled industry is. Railroads are only a portion of that.
michael P, fascism has to do with the level of government control, it is philosophicaly neutral. Stalin was a communist AND a fascist.
Dilligas, you clearly have not researched Ron Paul. I suggest you do.
He doesn't even accept participation in the Congressional pension program which vests on day one -- and he has worked there 20 years.
bob, this is what economic fascism is. People use the term in a sloppy fashion.
bob, this is what economic fascism is. People use the term in a sloppy fashion.
bob - look it up
25 Answers
- The PatriotLv 71 decade agoFavorite Answer
No. And you really need to see what facism is. The link below will show you.
Source(s): http://www.youtube.com/watch?v=SAgu0gUODKU - Last In LineLv 51 decade ago
Doesn't sound like your very excited to see what the new American Volkswagen (Germany's car born, and built under Fascism) will be...Me either. Ford is predicted (by market experts) to also be bankrupt within the next year.
Unlike Amtrak, cars are something which almost everyone uses, and our government has a plan to make us buy new ones.
Most people haven't been paying attention to the 'clunker bill', which is about to pass. At first this will be a $4,500 promotion voucher to scrap your old car towards the purchase of a new one.
However, I see where we're headed as a nation, and soon the teeth will grow out once this bill becomes law, and your uncles restored '57 Chevy...He can either pay a ridiculious carbon tax, or surrender it to be crushed. Car didn't pass a smog test on the first try...'sorry you have to leave it here, we have to crush it for it failing the Cap, and Trade pollution mandate.' Think it isn't getting that bad? One year, and this is the USA we'll be living in.
Ignoring the point for a moment that it's unConstitutional, and unAmerican, our government is not stupid as they appear at running business...
It's more that they aren't in the business of showing a profit. They cook the books, and line each others pockets until they don't show profit. It's as simple as this...This is the business of politics.
Barney Frank, a career politician is worth between $750,000-1.2 million. Chris Dodd...$600,000+. Why are they destined to be millionaires with money taken from our paychecks when they ran our nation into the ground?
The way this bankruptcy is being handled is pounding one of the last nails in the coffin of Captialism in favor of Fascism.
What wise bondholder would invest in any American company now that they see the return of their money matters least in bankruptcy court for the first time ever 'because our Czar said so'? This is unAmerican practice, and America will not last by cheating the hand that feeds free markets.
BTW...Ron Paul knows what he's talking about!
- R JLv 71 decade ago
"the trains run on time" or "you get shot". Ha, ha. It is scary what is going on, but I guess their is no reason for bankruptcy in business anymore.
After the article (opensecrets.org) on the financial lobbyists spending 28 million to buy Congress and have them remove the regulation of "mark to market" so wells fargo, citigroup and others could post "better" first quarter earnings I doubt if anything is going to stop anything. Considering GE lobbyists threw about $190 million at Washington and the fact that most of the problems. The financial and the high cost of gas are due to Congress easing regulations.
Paul is hitting this hard as someone, anyone has to. Unfortunately since most accept a ton of money and have family members on lobbyists payrolls not much is going to change unless we do it.
Paul gets a thumbs up for calling a spade a spade. Once people become educated on what is going on then they may wake up. The rails used to be the best way to ship but with the unions at every point like at the railhead, then the unloading, then the trucking, well it got to be cost prohibited.
Have a great 2009!
Source(s): opensecrets.org - Anonymous5 years ago
Because Ron Paul is not a member of the CFR - Hillary - Obama and McCain are. Ron does not except campain funding from CFR corporations the other three do. All mainstream media are controlled by the CFR to implement globalization - fascism to America. Ron is against pre emptive wars the CFR wants war and the Oil it will net them. Ron Paul refuses to be a part of that corruption. Mike Gravel - Cynthia McKinney and Dennis Kucinich also have rejected the CFR. They are the few that are non corrupted and know how to stop the corruption.
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- casimir2121Lv 51 decade ago
I think that this has been going on for quite some time. Fascism did not die in 1945, it just changed venues. Now the elites are gearing more towards an international form of global Fascism, instead of focusing on individual states. I think too many people have a misunderstanding of what constitutes Fascism.
The Illusion of change in elections is one of the greatest frauds we have ever witnessed. Obama and Bush are both, as are both parties, owned and slaves to those that hold our economic sovereignty in the balance: the bankers, multinational corporations, and Military Industrial complex. The boss(Federal Reserve for those still asleep) keeps printing money under two premises; the first that its imaginary money is paid back by our goods and services, and the other that it is used in the manner they see fit. That manner always serves those former power holders mentioned first. Channeling tax payer money to select corporations via bogus projects, or better known as the primary function of the government, has been going on for a century now.
It hurts to see so many of us living in such denial. Both political sides name calling when they have no clue what the names even mean. The reality is that the economic system of this country is stuck between Corporatism and State Capitalism. While Bush believed in Crony Capitalism where profit was distributed to whom he saw fit while debt was passed on to everyone else, Obama believes in a form of State Capitalism where the State has a guiding role to play in private enterprise.
The trump card here is that the overall political system is a form of Totalitarian Democracy where one ideological pursuit is to be the drive behind all other functions. That pursuit is....profit. The governments sole function is to promote and enhance the pursuit of profit for those in the best position to profit: first being the Corporate finance sector including those with the monopoly over our currency, followed closely by the Military Industrial Complex and its related Corporations, and very last on the pole, you and I. Regardless of Bush Crony Capitalism or Obama State Capitalism, both have to serve those that trully put them in power: the Corporate elites mentioned above. That is Corporatism.
Then you add to the mix the nationalist ideas, the foreign wars, the restriction of press, the indoctrination of the education system, and the overall populist appeal of various social agendas and you end up with this:
It is called FASCISM.
Goose stepping optional...
- RICHARDLv 51 decade ago
Good questions...
Well I can't say I do not like Obama... He was not my first choice.. Nor my last.
My first was Ron Paul
My criticism is that how are we going to pay for all of this money? We print it and spend it... then what.. When you print more money.. it means the current money you have is worth less and less the more you print.
So our kids and our grandchildren will suffer far worse than we will.
If you let everything collapse that would be catastrophic, but would be short lived.
In 9 months to 2 years it would be all over new companies would form out of the ashes, and bad habits would be expunged from the system.
Poor performance wouldnt be rewarded and playing it safe would have worked out for the best.
I think infusing the system with this type of False Revenue creates another FAKE market. The recovery will only be an illusion a band aid over a broken arm of sorts.
That will become very apparent when it cost 20 dollars for milk and 18 dollars for gas in the near future.
If your money is worth less then you need more of it. However the common people are loosing jobs and their wages are stagnant. Therefore the money the have is worth less and their ability to gain more is reduced. Forceing the seperation of classes to the poles of Have and HAve nots.
The middle class will loose its ground.. and the wealthy will take over.
One step closer to a police state.
Watch ZEITGEIST the movie... it is somewhat related to this topic. Especially the part about the Federal Reserve.
ANYONE WHO AGREES WITH ME, or DISAGREES.. PLEASE SEND ME A MESSAGE.
GOOD LUCK
.............................
- Anonymous1 decade ago
I went back to look at the hsitory of our banks. One of my favorite banks was Home savings of America. It was a trusted bank in California, because it invested conservatively. When Banks were expanding Home svings grew slowly, when A recession Hit Home savings grew very quickly. It bought up the banks that went bankrupt from growing to quickly and invested irresponsibly during the banking booms. Recessions are a way to reward companies for acting responsibly. They do not go for the cheap profit and look at the long term view. That's what is wrong now. We are rewarding comapnies for investing badly by letting them survive and supporting them financially, but we are also punishing the companies for being responsible.
- Anonymous6 years ago
Ron Paul was a breath of fresh air in the madness that is politics.
- Anonymous1 decade ago
I voted for Paul in the primaries - I think he is one of the only reasonable, rational politicians today.
- Anonymous1 decade ago
Well, is more in line with the economic aspects of fascism than it is with the free market capitalism this republic was based on.