Last night, the Democratic convention kicked off. They talked a lot about the choices that Obama made. I thought about those choices. Obama always takes the easy way out, makes the easy choice.
Obama made the easy choice. The stimulus went to his cronies. 99% of it was a waste.
The President made the easy choice. Obama bailed out his cronies in the unions, crushed down the debt and shareholders of GM. A managed bankruptcy would have allowed GM to stay in business, along with all the suppliers that depend on GM-but it would have changed the pensions and salaries of all GM employees-including the white collar employees.
You lost money if you bought the GM IPO. The company is losing money, has a massive pension liability and will go bankrupt again.
Easy choice, use political majorities to pass socialized Medicine (Obamacare, Affordable Health Care) vs Hard choice of staying focused on the Economy
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 24th, 2014 | John Ransom