Friday, October 19, 2012

Obama’s Crony Investment In Hybrid Auto Battery Maker A123 Ends In Bankruptcy

So, what to say?  I said this was going to happen on some level at the time Obama wasted taxpayer money on this boondoggle.   I didn’t say bankruptcy would happen but when the original investment was made I wrote that it was a preposterous waste of money with absolutely no reasonable return on investment.   And, that we, the citizens of this nation, would never get that money back.  Hundreds of millions of dollars just pissed away.  Not the first time a politician pissed away someone else’s money.   Obama is pissing away trillions.  Bush may have called himself the decider but it is really Obama who has embraced his position as the king of the United States.   Picking economic winners and losers like King George III. 

Now, I have no problem with a responsible government spending money.   Government labs provide a great service; although politicians are starting to really effup public science in a big way.  Public services enrich the human experience and democracy.  And, if we had an investment banking arm of a public banking system that was in no way tied to politicians, and they had done the diligence on A123 to prove an investment, well, then that would be a-okay with me.    To go one step further, if we had a public banking/monetary system that was designed with proper oversight, governance and bylaws, politicians wouldn’t have any direct, arbitrary control over taxpayer dollars.   Period.  And, government spending  would be some combination of printed and credit-driven money derived through law, science and reason.  ie, The government would be creating some of the money it spends rather than taxing us into submission for crony corruption as happens when private banking criminals and debt-driven money control our banking and monetary system and by conclusion, control our government. 

That said, A123’s investment was not responsible government spending.  This was one person picking one company to get a free joy ride with taxpayer money.  I didn’t get any of that money.  Where is my handout?   Why should I have to pay for this clearly incompetent mistake?  Did this benefit me?  My community?  Democracy? Our economy?  Please do tell.   More privatizing gains and socializing losses. 

I’m still waiting to see this supposedly brilliant president – a unicorn the Dummycrats still promise will magically appear after four years or hope and change.  Sounds very similar to the 2012’ers who are promising their “unicorn” will appear as well.   I have no idea what Obama’s grades or curriculum were in high school or college.  Because just like Romney and his taxes, Obama won’t release his transcripts.  So, while I’m not a big proponent of grades equating to true intelligence or ability, I still know almost nothing about what qualifies him to serve the public good.  He’s certainly good at single-line and simple-minded talking points on a teleprompter in his sermons.  And, they are sermons.  But, he can’t seem to actually conceptualize or take those one-liners and star burst them into any type of intelligent, detailed understanding of complex issues, strategy or any kind of plan to actually lead or accomplish anything.  That is, other than more cronyism and backroom deals.    Excuse my French, but this has to be the most overrated first round draft pick in the history of politics.  Truly.  A dud extraordinaire.  Well, let me take that back.  Clearly not as bad as the main man of hype, the king of mean, the prince of paucity, Bill Clinton.  But, those cult of personality worshippers need to keep on wishing and hoping.   They still drink the Jim Jones Kool-Aid.

There is a process to go through to justify new investment or investment in startups.   The financial decision process doesn’t take a genius.  I have done in countless times working with clients.  Frankly, anyone could learn the financial skills to do so.  (Although the nonfinancial skills are much more subjective and usually require some substantial understanding of science, technology, competitors and markets; depending on the investment.)  But, regardless it does take some modicum of skill.  Just like being a plumber or a surgeon.   Where would Obama have acquired that skill?  The same place he acquired the skills he used to invest in Fisker, Solyndra, Tesla and others.    They will all fail.   The Tesla and Fisker investments were even more horrible than the A123 investment.   Horrible.  And, if Obama actually relied on Wall Street to guide his decision-making on these investments, well, that just shows you how completely incompetent they are; something anyone with a heart beat already knew. 

I want to see clean energy investment.  I want to see a national focus on energy independence.  I want to see a responsible, democratic government take the lead in a public debate and discourse on these issues.  But, all we get is more corporatism and cronyism.   Politicians aren’t qualified to be making these decisions.  We don’t elect servants to become our masters.  They should be encouraging discourse, debate and policy considerations that benefit We The People.  Nothing of the sort is happening.  It’s just top-down, systemically-incompetent, lobbyist-motivated, corrupt ramrodding like King George III.   Here’s your gruel.  Shut up and eat it.

To be frank, well, I’ll be me and you can be Frank, for me personally, Obama  has not shown anything of substance to prove he has any idea what he is doing.   What has this guy actually ever done in the real world of his own doing?  I mean ever?  Not just as president.   The only thing I see is that he has raised two adorable young girls but then without knowing, I would give most of that credit to his wife given what I see of his emotional distance and aloofness.

posted by TimingLogic at 9:37 AM