Let them sink.
Obama is out of control. The man seems to think he is elected to micromanage private business. The way this man, with the messianic complex, is acting, he thinks he is Caesar, not a president with specific, enumerated powers. And none of those powers give him, or his puppet Congress, the power to manage private business, or to turn major industries into government pawns.
In just a few short weeks Obama has proven himself to be worse than George Bush, when it comes to the infection of the imperial presidency. Recently the Obama administration told General Motors to fire its CEO and to merge with an Italian auto manufacturer. Now he is telling General Motors and Chrysler to submit plans to him on their reforms and complaining they aren’t moving fast enough. He also says that he will not allow the US industry to “simply vanish.” What he means he is that he will subsidize a few badly run companies that are held hostage by their unionized workforce.
In one of his scripted messages (without the script he’s not so eloquent) he said, “We, as a nation, cannot afford to shirk our responsibility any longer.” We aren’t. Chrysler or General Motors are NOT “our responsibility” Mr. President. They aren’t your responsibility either. Let us get something straight. Presidents, even those who think they are Jesus and JFK rolled into one, are not elected to manage the economy. They have no such powers enumerated by the Constitution. Their duties are few and precise. But then we’ve not elected a Constitutional president is a very long time.
Obama says that the US auto industry is “a pillar of our economy.” Nonsense. The US auto industry is a relatively minor percentage of the economy. If they can’t survive close them down. There are plenty of good cars on the market, manufactured in the United States. We don’t need Chrysler or General Motors.
Let us be clear, Obama has zero business experience. He doesn’t even write his own speeches that so mesmerize the Obamatrons. Normally that is not a problem for the president since presidents are not elected to run businesses. But Obama is clearly engaged in a radical take-over of the private sector by the government. Mussolini would be proud of his cozy relationship with big business and his micromanaging the economy.
Elected officials rarely have the experience necessary to run a business effectively. On a collective basis, where political concerns dominate, they are totally unable to do so. Just look at what happens when politics gets hold of something as simple as education if you don’t believe me. Add in the perverse incentives of political management and state control of any industry is asking for trouble. Politics is about the most perverse method of solving problems that we have. The best solution, in this state-created crisis, is to let the bad companies go under, and the sooner the better.
Once these industries collapse than the valuable labor, tools, factories, etc., will be snapped up by individuals who are able to put them to profitable use. All these factors in production still hold value. But the management of these resources is wrong. Reallocating them to more profitable uses are the only solution to the economic crisis. Sustaining unprofitable uses is not a solution, it is the problem. Ultimately Obama’s solution is like treating a cold with pneumonia.