More Crony Capitalism For GM, Ford & Chrysler While American Citizens Are Booted Out Of Their Homes
Richard Parry-Jones could arguably be the top automotive engineer on earth. He is a subject matter expert and the former chief technology officer at Ford Motor Company, one of the leading technology and industrial companies on earth. When people of this ability talk, we might want to listen.
Parry-Jones tells us in an interview that current hybrid technology isn't cutting it and that the industry will figure out how to make 180 mpg automobiles by 2050 if the government will simply leave them alone. Government should not be picking technology winners and losers in the market place. To believe a politician or for that matter even Parry-Jones knows exactly what will be developed over the next forty years is preposterous. So, to allocate capital based on what a politician or government believes is appropriate is exactly what has put us in this economic situation in the first place.
But politician John Dingell wants to allocate $25 billion in taxpayers money for a boondoggle to benefit three companies out of hundreds of thousands of companies in the U.S. May I ask why they get a $25 billion loan and I don't? More corporate bailouts. And Dingell wants to piss away this money on technology that a leading expert tells us isn't even sustainable. You want the money? Fine. Then show the American people the technology roadmap and business plan submitted by the auto companies that shows why they need taxpayer assistance. He can't because they don't exist. More government waste.
Dingell needs to back off and let the world's venture capitalists, engineers, scientists, inventors and business people define future solutions rather than wasting taxpayer dollars to support crony projects for three companies headquartered in his state. More appropriately maybe John Dingell should have been worrying about the depression that has existed in the state of Michigan for the last nine years and doing so well before he was asking all of us for more government bailouts of corporations while the American people are booted into the streets in record numbers.
Parry-Jones tells us in an interview that current hybrid technology isn't cutting it and that the industry will figure out how to make 180 mpg automobiles by 2050 if the government will simply leave them alone. Government should not be picking technology winners and losers in the market place. To believe a politician or for that matter even Parry-Jones knows exactly what will be developed over the next forty years is preposterous. So, to allocate capital based on what a politician or government believes is appropriate is exactly what has put us in this economic situation in the first place.
But politician John Dingell wants to allocate $25 billion in taxpayers money for a boondoggle to benefit three companies out of hundreds of thousands of companies in the U.S. May I ask why they get a $25 billion loan and I don't? More corporate bailouts. And Dingell wants to piss away this money on technology that a leading expert tells us isn't even sustainable. You want the money? Fine. Then show the American people the technology roadmap and business plan submitted by the auto companies that shows why they need taxpayer assistance. He can't because they don't exist. More government waste.
Dingell needs to back off and let the world's venture capitalists, engineers, scientists, inventors and business people define future solutions rather than wasting taxpayer dollars to support crony projects for three companies headquartered in his state. More appropriately maybe John Dingell should have been worrying about the depression that has existed in the state of Michigan for the last nine years and doing so well before he was asking all of us for more government bailouts of corporations while the American people are booted into the streets in record numbers.
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