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Economic Crisis Falsehoods

In my previous post, I was going to expose many of the lies and falsehoods about the economic and automotive crises that have been reported in the media. In my research, I came across an article by Media Matters that does a much better job than I could. Click here.

Auto Bailout

I am thoroughly disgusted with the hypocrisy of the Senate Republicans. Last night, they blocked $14 billion dollars of assistance to the Big Three auto companies, because there weren't enough wage and benefit concessions from the autoworkers. This coming from many of the same senators who voted for the $700 billion dollar bailout for the banking industry. A bailout that has little oversight and does not include any wage concessions for banking CEOs or employees.

The labor cost for a new car averages 10% of the vehicle cost (click on the link to also find out why the $73 an hour claim is misleading). Even if the labor costs were cut in half, that would only result a decrease of $1,500 on a $30,000 vehicle. It is the poor vision and leadership of the management of the auto companies that have led us to this situation - not the workers. The Republicans are simply trying to destroy the United Auto Workers Union.

I am not too pleased with Democrats in Congress either. They didn't fight for enough oversight with the $700 billion bailout of the banking sector. The Bush Administration is controlling the distribution of the funds. The same inept administration that has screwed up so many other facets of our country's government.

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Update

The few of you who are still checking this blog have likely noticed that I haven't written too much recently.  After writing so many election posts, I felt like I needed a break.  I am also having a hard time remembering what I used to write about before the election.  I seem to recall the topics mainly involving the incompetency of the Bush administration, music, pop culture, the occasional personal story, and the incompetency of the Bush administration.  Also, life has been super hectic and this blog has been pushed to the back burner.  I am going to try to write more soon.  Thanks for your patience.

Friday Video

My mother always warned to check the water before diving in. Crazy Russian.