Wednesday, April 01, 2009

UN Says 'Social Unrest' Is A Possibility; GM Asks For Another $2.6 billion in subsidies

UN chief Ban Ki-moon warned that the economic crisis could lead to widespread social unrest. Is that a threat or a prediction? Hard to tell.

GM asked for $2.6 billion in 'low interest loans" (i.e., subsidies) in order to build Hybrids. Oh, so now you need money to build Hybrids?? This from the company that was going to bring us the all electric Chevy Volt (and the EV-1, which they quietly killed back in the 90's.....smart move!).

How much longer can the US subsidize domestic auto manufactures before someone complains to the WTO? Isn't this what free trade isn't all about? I'm sure the automakers are just the tip of the iceberg...

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