COTD: Union Motors

clipped from pajamasmedia.com He loves to act as if he was taken off-guard by the developments in the economy. His policies are part of the reason for the collapse. Back in August, when it began to look like we would have him as our next President, money started to flee the markets, it has continued unabtated ever since. Watch carefully as he sells GM and Chrysler to the unions and stiffs the bond-holders, why on God’s green earth would anybody make investments in this sort scenario? The bond-holders were entitled to recovery of assets when the companies went through bankruptcy. Now they will be screwed and forced to buy worthless stock at a dime on the dollar. The Rule of Law is dead, there is no incentive to put money into the market. Without capital the market will continue to collapse and no amount of freshly printed money will revive them.