This President is priceless. Government picking green energy winners is the gift that keeps giving. They pick ethanol and hundreds of ethanol plants end up bankrupt. The Chevy Volt, when it isn’t exploding, is selling like hotcakes. I think they might have sold 300 in 2011. I can’t wait to see what Obama is going to support next with our tax dollars. Maybe Zepplins powered by butterflys.
Remember that one keyword that oddly enough never made it’s way into the president’s largely recycled SOTU address – “Solyndra”? It is about to make a double or nothing repeat appearance, now that Ener1, another company that was backed by Obama, this time a electric car battery-maker, has filed for bankruptcy. Net result: taxpayers lose $118.5 million. The irony is that while Solyndra may have been missing from the SOTU, Ener1 made an indirect appearance: “In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries.” Uh, no. Actually, the correct phrasing is: “…positioned America to be the world’s leading manufacturer of insolvent, bloated subsidized entities that are proof central planning at any level does not work but we can keep doing the same idiocy over and over hoping the final result will actually be different eventually.” We can’t wait to find out just which of Obama’s handlers was may have been responsible for this latest gross capital misallocation. In the meantime, the 1,700 jobs “created” with the fake creation of Ener1, have just been lost.
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This is just silly. A government does and should encourage some businesses. Some fail. Japan does this. Our competition, such as China do this. The market does not do everything. Just one example, the auto industry fought higher mileage standards for years, decades. In the meantime, others beat Detroit hands down. If Republicans had not obstructed higher mileage standards, perhaps no bailout would be needed. Likewise, not only by regulation, but by rewards, one can build the businesses of the future. Or is this editorialist content with letting China, as it does now, be the world leader in such technologies as wind power? Just silly.
ReplyDeleteEncourage business? Really?
ReplyDeleteLets see how they do this.... they pick their friends who have made large political donations, lend them million, billions and even trillions, then after the the legal time allotment {and the money has disappeared}....they file bankruptcy. Only a career criminal could get away with this..
I wount not let him pick my nose.
ReplyDeleteThere's a much larger picture hear that nobody has floated...a hinden agenda. something has happened or going to happen to our world and they are preparing for it. Easy...donate millions to some far fetched idea and domb it a year or so later with bankruptcy....and the money goes elsewhere. think about it....
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