Science fiction writer Ben Bova wrote:
The most prescient — and chilling — of all the science fiction stories ever written, though, is “The Marching Morons,” by Cyril M. Kornbluth, first published in 1951. It should be required reading in every school on Earth.

The point that Kornbluth makes is simple, and scary: dumbbells have more children than geniuses. In “The Marching Morons” he carries that idea to its extreme, but logical, conclusion.

Kornbluth tells of a future world that is overrun with dummies: men and women who don’t know anything beyond their own shallow personal interests. They don’t know how their society works, or who is running it. All they care about is their personal — and immediate — gratification.

A comedy with similar reference....Watch the trailer......click me


Friday, April 23, 2010

GM Pays Back Government Loans in Full

Ya baby...... now we're talkin recovery.

General Motors Company Chairman and CEO Ed Whitacre today announced that GM has made its final payment of $5.8 billion to the U.S. Treasury and Export Development Canada, paying back its government loans in full, ahead of schedule.
Fanfrickintastic........ and that's with a $4.3 BILLION first quarter loss to boot.

“GM is able to repay the taxpayers in full, with interest, ahead of schedule, because more customers are buying vehicles like the Chevrolet Malibu and Buick LaCrosse we build here in Fairfax,” said Whitacre. “We are now building some of the best cars, trucks, and crossovers we have ever built, and customers are taking note. Our dealers are increasing their sales, we are investing in our plants, and we are restoring and creating jobs.”
So junk those cars with sticky gas pedals and that slide when going around corners and buy a Government Motors quality built vehicle.

Oh........ for those that are questioning where they got the money to pay back taxpayers while posting a $4.3 billion dollar loss........

GM Repaid TARP Loans With TARP Money

“The repayment dollars haven’t come from GM selling cars but, instead, from a TARP account at the Treasury Department.”

Grassley pointed to the most recent quarterly report from Neil Barofsky, the special inspector general for TARP. 

Barofsky testified before the Senate Finance Committee this week that the funds GM used to repay its TARP debt are not coming from GM earnings.

“Instead, GM seems to be using TARP funds from an escrow account at Treasury to make the debt repayments,” Grassley said. The senator noted that according to Barafsky's testimony, "Treasury had supervisory authority over GM’s use of these TARP escrow funds."


Smoke and mirrors once again.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)