Chinese Company to Buy Hummer

Well, I hope they know that Hummers get like 8 MPG. But this is the clearest example that the Chinese are going to cash in their dissolving dollars for real assets.

Americans are going to have a hard time swallowing the idea that to get better, we must sell off the last manufacturing capability we have and become totally dependent on China.

Free Tade And Government Bailouts

Where is the World Trade Organization? I read yesterday that the government will soon own 75% of GM. Yet no one is talking about government subsidies (low interest loans, direct payments, bailouts, etc) distorting "free trade". I wonder why? Just a few years ago the WTO was ranting about how the US government 'supports' Boeing through R&D payments. Yet not a peep on the massive US and European bailouts.

Maybe they're figuring it all works out in the end if GM exports jobs along with their vehicles.

The Treasury Just Gave Away 1/2 Of Everything Produced In This Country Last Year

Wow. We're now up to $7.7 Trillion??? And to top it all off, much of this money is being given away in secrecy with no oversight.

The TARP program is in danger of becoming the largest financial fraud in history....

Here Come The Crashing Pension Plans

As I noted in my September 18th post, the collapsing pension plan will be the next big new story. Florida announced today that their public employee's pension plan has lost 1/4 of it's value. They say that's "pretty good considering". I bet they're telling the truth on that one too. Many corporate plans are already on the verge of collapse.

I suspect that in the next couple of months, we'll see a few of these pension plans' benefits completely frozen (if not wiped out). The big push will then be a push to fund these plans using taxpayer dollars.

So in essence, these plans represent a huge, unfunded, off-the-books liability for taxpayers that will soon be surfacing.

And you thought it was just going to be $700 billion...