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Posts Tagged ‘Marxism’

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GM: Government Motors

by Phantom Ace ( 15 Comments › )
Filed under Barack Obama, Democratic Party, Economy at April 29th, 2009 - 8:28 am

The US increasingly has a Marxist economy. In the latest move, the US Government now is the majority owner of General Motors!

GM could become leaner, government-owned company

DETROIT – General Motors, once the colossus of American capitalism, will become a leaner, government-owned company if the Obama administration goes along with the automaker’s plan to slash jobs, close plants and eliminate the legendary Pontiac brand.

As GM laid out the proposal Monday, new agreements fell into place between Chrysler and its unions in the United States and Canada, making it apparent that the future of both companies now rests with their creditors.

General Motors CEO Fritz Henderson said the company would offer the Treasury Department more than 50 percent of its stock to absolve GM of $10 billion in government loans.

So now the Government will decide what products to make and when to make them. This sounds like Marxism to me. This is definitely very Communistic. What irony Russia and China are the capitalist Pigs now! Thank you Comrade Obama.

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Posted in Barack Obama, Democratic Party, Economy | 15 Comments »

Obama doesn’t let Banks payback TARP

by Phantom Ace ( 30 Comments › )
Filed under Economy at April 4th, 2009 - 5:55 pm

I agree with this opinion totally. Obama is rejecting TARP paybacks so he has a say in the Bank’s businesses. This is Totalitarian in nature.

Obama Wants to Control the Banks

I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California. This isn’t much when we routinely talk in trillions, but clearly that money has not been wasted or otherwise sunk down Wall Street’s black hole. So why no cheering as the cash comes back?

My answer: The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough. The White House wants to tell ’em what to do. Control. Direct. Command.

The Question I have is if things recover, will Obama allow the TARP funds to be paid back? Or this is a way for the government to get a of company profits? Either way this is not a good development.

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Posted in Economy | 30 Comments »

Chairman Obama asks GM CEO to resign

by Phantom Ace ( 116 Comments › )
Filed under Barack Obama, Economy at March 29th, 2009 - 4:36 pm

Our dear leader Chairman Obama has asked for and got the resignation of GM CEO Rick Wagoner. This is an act that Stalin, Mao and Castro would love!

GM CEO resigns at Obama’s behest

The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.

On Monday, President Barack Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler. The plan is based on recommendations from the Presidential Task Force on the Auto Industry, headed by the Treasury Department.

Marxism USA style has arrived. Obama is now our Boss! This is a step towards Totalitarianism. The next step is that if you speak out about Obama, you could lose your job.  This is a worrisome event.

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Posted in Barack Obama, Economy | 116 Comments »

Doubts about Secretary Geithner

by Phantom Ace ( 3 Comments › )
Filed under Economy at March 18th, 2009 - 8:40 am

It seems that Secretary Geithneris losing confidence of Obama? There are no clear signals but it seems there are rumblings in Washington. The AIG bonus mess is clearly on him, since he’s in charge of the bailouts.

Analysis: AIG bonuses new cloud over Treasury boss

WASHINGTON – If not distancing itself from Treasury Secretary Timothy Geithner, the White House is placing firmly on his shoulders responsibility for how the government handled the $165 million in bonuses paid to about 400 executives and traders at American International Group Inc.

“Secretary Geithner last week engaged with the CEO of AIG to communicate what we thought were outrageous and unacceptable bonuses,” White House spokesman Robert Gibbs said Tuesday.

Then he volunteered the answer to a question being asked all over Washington: Did Geithner still enjoy President Barack Obama‘s confidence, given the whopping bonuses the failed insurance giant paid Friday after receiving taxpayer bailout money?

Treasury Secretary Timothy Geithner doesn’t know what he’s doing. He was in charge of the NY Fed when Wall Street Collapsed, so he shares some of the blame. Geithner is just a piece of the puzzle, He is just a spokesman for Obama’s Statist agenda.

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Posted in Economy | 3 Comments »

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