harpernomics

• Harpernomics – Round Two
• Harper’s Economic Plan?
• Business will Protect Us.
• Who Do You Believe?
• Mining Companies & Harper
• Harpers Warns Ignatieff
• Chrysler’s Legal Battle
• Can Politicians Add?
• Who to Believe – Flaherty or Budget Office?
• Maple Leaf, Listeria, Self Regulation
• Buying American or Canadian
• Harper’s Stimulus Package
• Another 43,000 Out of Work
• Staying the Course
• Fun With Numbers
• China and India Trade Deals
• Cutting the Deficit
• Not Safe in US, Why Here?

So a couple of rather large pension plans, are appealing to the US Supreme Court to block the Fiat buyout of Chrysler, claiming it is ignoring the right of secured creditors over unsecured creditors. They are also claiming some actions, aren’t legal because Congress didn’t authorize something or other, but it boils down, to the simple fact, this bankruptcy protection isn’t over yet.

Opponents of Chrysler’s sale to Fiat are asking the U.S. Supreme Court to block the deal.

Three Indiana state pension and construction funds filed emergency papers at the high court early Sunday to put the sale on hold so they can pursue an appeal ( CBC News )

AND THE PLANTS REMAIN CLOSED

Frankly, this entire economic recession seems like a total pile of bullshit. I mean when did the public have to bailout failing business? And when did it make economic sense to spend yourself into debt to do so?

Simple fact of life here. I have to make do with what I earn, what money David & I can make, and if that means we eat smaller portions at dinner, or don’t go and splurge on KFC, then that is what it means. We don’t go running to the bank, or our neighbours, to borrow money, and let’s be honest, they aren’t going to give it to me either.

So why are we doing this for Chrysler & GM & Others?

Then let’s look at how they reward us, for bailing them out. Chrysler threatens us, and General Motors is forced to reduce labor costs, again, by the very Government who is supposed to be bailing them out, in order to protect those very jobs, that they are now demanding be cut, and have wages lowered.  Like doesn’t that alone make you want to shake your head?

When Oil first hit $50 a barrel, the price at the pump was about 70 cents a liter, now it is back down, and at over a $1 a liter, and the Government doesn’t believe their is price fixing?

I guess when you have your vehicles provided for you, when you don’t have to pay the gas attendant when filling up, it doesn’t matter, but someone needs to wake up Stephen Harper & Flaherty.

This economic crisis, was started in the United States, and yet housing prices are down here, but according to Harper that couldn’t happen. We have stricter controls, so he said, but at the same time he quietly changed the banking rules, so that bad debts get hidden. Like that is a real confidence booster isn’t it?

If the plan to halt the buyout causes Fiat to back out of the deal, what then? Where do we go from there, and should we even be going there? Isn’t it time we started to look outside of the proven failed policies of Free Trade, of Corporate Tax Cuts & Bailouts?