Tuesday, August 14, 2012

BloggeRhythms 8/14/2012

According to William Kristol of the Weekly Standard on-line, “Bill Bennett suggested on his radio show this morning that the Romney-Ryan campaign (or someone else) cut an ad to make famous these remarks (delivered a year ago at the University of North Carolina) about Paul Ryan by Clinton White House chief of staff Erskine Bowles.”
  
Here’s what Mr. Bowles said, “Have any of you all met Paul Ryan? We should get him to come to the university. I’m telling you this guy is amazing. He is honest, he is straightforward, he is sincere. And the budget that he came forward with is just like Paul Ryan. It is a sensible, straightforward, serious budget and it cut the budget deficit just like we did, by $4 trillion.…The president as you remember, came out with a budget and I don’t think anybody took that budget very seriously. The Senate voted against it 97 to nothing." 
 
Kristol went on to state that “Publicizing Bowles's comments could help shape the public's view of Ryan -and improve the public's view of Mitt Romney, the man who picked him. I think conventional wisdom doesn't yet appreciate how much of a positive Ryan can be for the ticket.”
 
I mention this because, as I recall up until now Kristol was quite wishy-washy about Romney altogether. But it’s funny how things can change when even hugely self-impressed pundits finally pay some attention and realize that Mitt Romney always knows what he’s doing. 
 
And then, in comparison to two folks like Romney and Ryan, who know how to govern and understand finance and economics, the Treasury Department announced it expects to lose about $25 of the $85 billion of taxpayer funds used to bailout the auto industry. That’s 15 percent higher than previously estimated, according to the Detroit News.
 
The article goes on to say that “The report may still underestimate the losses. The report covers predicted losses through May 31, when GM’s stock price was $22.20 a share." And “considering that on Monday GM’s stock fell 0.3 percent to $20.47, the losses may be greater than the latest report estimates:”
 
At the same time, the BBC business news on-line notes that  Honda's car sales more-than-doubled in the US and Japan during the period and revenue from its motorcycle division also rose.
 
But what was most interesting to me is the fact that the GM bailout with taxpayers funds completely preserved the union jobs, benefits and retirement funds, which are likely to sink the company again. However, Honda in the U.S., which has no union employees at all, is not only once again breaking all kinds of income records, but is even shipping vehicles made here to nations all over the world. 
 
So, I guess what these stories go to prove once again, is that when folks who are all talk while having no skills whatsoever, try to reshape an economy to fit a faulty premise regarding income redistribution and the penalization of the successful, the actual results show collosal failure. However, the real question to me is: How inept, incompetent and misguided do you really have to be to continually shoot yourself in the foot the way Dem’s do?
 
That's it for today folks.
 
Adios

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