Tuesday, June 9, 2009

Supreme Court Red Flags Chrysler Race To Finish

Just when the President's task force thought they were in position for a final run at the checkered flag, Ruth Bader Ginsberg waved the yellow caution light, raising the possibility of a disqualification.

There was a little problem of the Indiana State Pension Fund being flattened by the president's economic blitzkrieg. The state of Indiana filed a petition which was overruled by the state court of appeals and then Indiana petitioned the Supreme Court of the United States.

The Blitzkrieg has been a relentless assault on private ownership of car companies, banks, insurance companies, and private secured investors. A large part of the media has been silent on whether it is even constitutional for the runaway government to use public funds for bailouts of unions and foreign auto companies as well as its well-connected friends in the financial industry.

With a stroke of the Czar's pen, the hundreds of years old tradition of honoring business contracts was abrogated by the Obama administration.

Obama and his team have added many concepts to the vocabulary of American political thought:

Systemic Risk: Anything that tends to damage the image of the administration-connected financiers of the banking and insurance communities.

Jobs: Those abstract and formerly real things which can be both created or saved by the Messiah but can never be counted or denied.

Green Shoots: The power of massive spending of taxpayer dollars to create a phony impression of consumer optimism and short-term economic rebound coincident with President Obama's policy speeches.

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