Buy Here Pay Here Car Lots Blog

Gas has “retreated” to $92 per barrel. It it still quite high and no real price reduction has taken place at the pump. I doubt very much whether we will really see any serious reduction. However, another point should be made here. When oil prices skyrocket and gas is high, President Obama blamed evil greddy “speculators”. He railed against them. He held them accountable for driving prices up and making our lives miserable as a result. He didn’t discuss his war on fossil fuels, but that’s for another blog. However, now that prices are going down, and gas prices are retreating, are the “speculators” given praise for their business acumen? The media won’t do that. The President won’t do that.

The point being ,that it is easy to demonize and vilify the evil “speculators”. They are a red-herring. “Speculators” are investors and that’s is all they are. In a capitalistic society, investing in the futures market is a cornerstone of free market trading. Prices of commodities go up and go down. That not only includes oil, but corn, sugar, cotton, natural gas, pork bellies and other commodities. Are all of these people “speculators”?

This demonetization of our capitalistic economy is rampant in this Obama “reign”. Attack capitalism and villify practices that have made our economy the envy of the world. Make our economic system seem unfair and outdated. Portray the system as tilted and a “bully” yto the average guy. The fact of the matter is, that, while this economic system isn’t perfect, it is responsible for producing the grratrs society inthe history of mankind. Under Obama our economy is patently unfair. only the few are getting ahead. He blames our economic system and not his own policies. He rips a system that has produced the wealthiest society the world has ever sen. Our economic problems are the fault of OUR economic system. It needs to be changed, according to Obama. Please understand that this guy has to be defeated to preserve our life, liberty, and pursuit of happiness.

General Motors received a government bailout worth billions of taxpayer dollars. This was done to keep this industry alive. Obama is touting it as one of his biggest achievements. Big government works. I think not. what the Obama administration doesn’t want anyone to know is that General Motors owes the taxpayers 65 BILLION dollars. Yes, that’s right 65 BILLION. How are we going to get that back? Just wondering, folks.

Let’s put this Obama success story into some perspective here. What Obama did was to undergo a managed bankruptcy. He did the very thing that he is attacking Mitt Romney for doing when he was at Bain. The big difference here is that Romney took all the risk. He did not use taxpayer money for his ventures.

Obama’s plan put tens of thousands out of work by closing dealerships and eliminating a product line (Pontiac). He engineered sales by instituting a cash-for-clunkers boondoogle that took tens of thousands of solid ,reliable, recyclable used cars off the market and had them junked. The result of this action caused a shortage of sound low end vehicles that appeal to the person looking for a second car or the low income buyer.

He also cheated the GM bondholders out of their investment in the company. They didn’t get paid back, and, normally, bondholders are the first to be paid back in a bankruptcy. That was unprecedented. This gives further credence to the idea that Obama pushed for this bailout to keep his union base working so they would support him in the coming reelection.

Let capitalism work. It has only built the greatest nation in the history of mankind. Government needs to get out of the way and let our system take care of itself!