Hoover-itis

The Republican Party is just itching to create a depression; it is in their blood, I guess. There is the realization that many GOP candidates did well by opposing the Bank bail-out, so they have concluded, in their own pithy limited way, that to oppose everything is the way back to power. It could also be the path to extinction, and I for one would not miss what has become of the Republican Party. Witness Senator Shelby: Shelby, however, said that a bailout of the auto industry would be "the wrong road to go down right now," and said he would prefer troubled automakers file for bankruptcy rather than get taxpayers' money. (CBS) "Some people believe that Chapter 11 bankruptcy would be a lot better management than what they have today," said Shelby (left), "where they would reorganize, they would get rid of the management that has brought them to where they are today, bloated contracts, everything that goes with it. No profits, no products to sell, to speak of. " [It's] headed down this road to oblivion. Should we intervene to slow it down, knowing it's going to happen? I say no, not for the American taxpayer.” [ Rep. Barney ] Frank disagreed: "It might be one thing to tolerate a bankruptcy if we had a lot of jobs out there, if there was prosperity. I aply the same logic to the GOP itself: let it destroy ityself entirely, finishing the job it has so well begun. Chapter 11 will be slow and laborious. The unemployment rate will climb, first with autoworkers, then with everyone connected to the industry, then those who used to sell things to the auto industry families. No problemo: chapter 11, right Senator? You do not say NO for me, Senator. You did not ever say NO to anything in the past 8 years, and by neddy-jingo, you will not say No now, when for the first time you may actually do some good. The New York Times had a stupid opinion that somehow the foreign automakers would take up the slack, leaving us with a foreign owned auto business. Firstly, the total foreign ownership of almost all manufacturing is a disease, not health for our economy. Secondly, the process referred to will take 10 years of more. And there is no guarantee that foreign owners will produce all their cars here, anyway. One of the best ways to phenomenally increase one's Wealth would be to plunge the USA into a Depression... Sit back on your funds in Switzerland and Dubai... Then move back in when things get better, and pick up everything you want, since everyone with wealth of 5 million dollars or less has been destroyed.