Twitter   RSS   Email  

 How the Global Economy is Dependent on Christianity

 Why America May Never Recover From the Recession

 Save Money Homeschooling

Government Takeover of GM is Unconstitutional and Illegal

By: Steve Johnson

4/2/2009 - 178 Comments

The Obama administration has taken over a private owned company and fired its CEO and board of directors without the constitutional authority to do so.

This is not supposed to happen in America.  The government has no authority in the constitution to take control of a private owned company or fire its staff or decide what to do with its assets.

This is clearly a political power grab, just as Obama has no plans to fire UAW president Ron Gettelfinger for forcing GM into high wages and benefits that drove GM into this crisis.  The union votes are much too important come time for re-election.

In the same speech that Obama fired the GEO of GM, he pushed his plan to build ‘greener’ cars with higher fuel standards, even though everyone knows that the reason GM hasn’t built these cars is because they are not profitable.  But, that don’t matter to Obama, because he not interested in a profitable GM. This takeover will result in HIGHER costing cars with HIGHER taxes to drive them.

Obama is focused on a political agenda to push the nation into a higher energy cost platform so that his huge ‘cap-and-trade’ energy tax plan can be implemented – and everyone can be taxed for all energy use.   Ron Paul explains how the ‘Cap-and-Trade’ is really just a massive tax plan.

“Cap and trade, in other words, is a scheme to redistribute income and wealth — but in a very curious way. It takes from the working class and gives to the affluent; takes from Miami, Ohio, and gives to Miami, Florida; and takes from an industrial America that is already struggling and gives to rich Silicon Valley and Wall Street “green tech” investors who know how to leverage the political class.”

GM should have been in bankruptcy months ago, so that the bankruptcy court could have fired the management and forced the UAW into lower wages.  That would have saved the billions in tax payers money that the government give this failing company. 

For the better of the entire economy, bankruptcy is the best option for a failing business.  Yet, the government leadership is still refusing to cut back on its own spending but doing just that opposite – moving the entire nation closer and closer to national bankruptcy.

Lawrence Kudlow said is best,

“As for Detroit, the carmakers should have been in bankruptcy months ago. And it is a bankruptcy court that should have fired GM's Wagoner and his board. Along with some serious pain for bondholders, bankruptcy would have broken the high-cost labor contracts with the UAW as well as carmaker contracts with dealers across the country. That's what bankruptcy courts are for. They're part of the free-market capitalist system. “

Where is the outcry?  Where the media to question the legal authority to overtake a private company?  This is a direct violation against the liberties of American’s given by the constitution to own private property.  Congress should create a subcommittee to consider the legal action to impeach Obama for executing power that he does not have.

Copyright © 2021 All rights reserved.

Freedom: America's Competitive Advantage in the Global Market

Gamble argues that globalization brings far more benefits to the U.S. economy than it takes away. Gamble shows that both Europe and emerging economic powers like China and India have serious long-terms problems linked to their cultures, political structures, occasional instability, and state ownership of companies. These and other factors will eventually put a brake on the economic growth of hot emerging economies. The fundamental protections of property and free speech, a culture that promotes and rewards entrepreneurship, banking policies that make capital easily available, are still more supportive of economic growth and wealth creation than can be found anywhere else.

Gold: The Once and Future Money

Governments and central bankers around the world today unanimously agree on the desirability of stable money, ever more so after some monetary disaster has reduced yet another economy to smoking ruins. Lewis shows how gold provides the stability needed to foster greater prosperity and productivity throughout the world. He offers an insightful look at money in all its forms, from the seventh century B.C. to the present day, explaining in straightforward layman’s terms the effects of inflation, deflation, and floating currencies along with their effect on prices, wages, taxes, and debt.

America Alone

In this, his first major book, Mark Steyn--probably the most widely read, and wittiest, columnist in the English-speaking world--takes on the great poison of the twenty-first century: the anti-Americanism that fuels both Old Europe and radical Islam. America, Steyn argues, will have to stand alone. The world will be divided between America and the rest; and for our sake America had better win.

The New Master Your Money

This book provides a step-by-step plan to financial freedom presented in an easy-to-understand format. Do you know if you have enough? Do you know how much is enough? If you can't answer these questions, The New Master Your Money is for you. Ron Blue extracts principles from God's Word and applies them to your financial portfolio. Ron's professional experience in financial planning will be an asset to you and to your family for generations to come.