BUSH IS CORRECT ON AUTO BAILOUT...did I say that?

Wow so many interesting happenings here and in the world and I didn’t have a moment to spare for myself; its all about getting ready for Christmas. Listen, we have 40 people over for Christmas Eve so is one busy guy and getting too old to keep doing this.

Anyway, since I have been talking about the AUTO BAILOUT for so long, let us bring that issue up to date.

I AGREED WITH PRESIDENT BUSH when he gave his speech before signing the auto bailout loan package. Since I hardly EVER agree with Bush, I had to capitalize that fact.

He said that under normal circumstances, our capitalist system would have dictated letting the auto companies reorganize under bankruptcy protection (as I have stressed so many times before) BUT THESE ARE NOT NORMAL CIRCUMSTANCES.

YES, GM and Chrysler needed to do some serious restructuring to remain viable in this global marketplace and they were slowly getting there and, in my opinion, would have made it IF the car market did not collapse due to the morons on Wall Street; now the world car market has dived also.

Ford did not need a helping hand because they downsized and generally prepared for a downturn in the market, better and faster than either GM or Chrysler but they will also feel much pain if people will not buy new cars because they are scared about the economy or have already lost their jobs.

If the economy does not pick up and people start buying new cars, no amount of reorganization or bailout money will help…

Bush did include some stipulations into the loan contract that mandates a restructuring which includes doing something about the UAW union. The leader of the union immediately said bullshit to that and intimated that when Obama takes the reins of office, the unions will be on top again telling the government what they want to be done.

Well, I think Obama heard that and said not so fast; the union contracts need to be renegotiated and brought down and integrated with current reality. Obama talked like a union lackey during his campaign but me thinks he was just “politicking” and has no intention of being a union lackey.

BUT like I said, if the economy does not improve and people don’t start buying cars and big stuff, the companies and workers are doomed.