Capitulating to the Government
Now for my anti-socialist rant. How much of your life are you willing to give to the government? The news I read about General Motors today was only given cursory attention by the press. Yet, it is probably one of the most profound events in our history. General Motors offered the government controlling interest in the company (that’s more than 50% of the common stock) in exchange for cancellation of GM’s $10 billion debt to the US Treasury. The balance of the company would be split up mostly to the UAW, and a small portion to the bond holders. What does this mean? It means that GM’s management has given up. It is walking away. And the once proud US automaker will be owned and run by the government and the unions. Does that mean anything at all to you? It is the signature event of our times: Americans are capitulating their freedom to the government. As we sit idly by, Big Brother is moving towards a centrally planned economy…forcing its way into the banking and manufacturing sectors o