Trump’s War On General Motors

BALTIMORE, MARYLAND – The stock market continued with a modest bounce yesterday… but America’s automotive giant, General Motors, sank into the mud.

The proximate cause was a tweet by President T., who threatened to remove federal subsidies to GM’s electric cars. This from Bloomberg:

President Donald Trump said he’ll consider killing subsidies for General Motors Co. over the automaker’s plan to close factories and cut U.S. jobs, a threat that was met with immediate skepticism on Capitol Hill.

GM fell as much as 3.8 percent as of 3:30 p.m. Tuesday in New York, wiping out much of its gain a day ago. The earlier rally was linked to Chief Executive Officer Mary Barra’s plan to boost cash flow by shutting plants in the U.S. and Canada and jettison struggling sedans from the company’s lineup.

Trump wasn’t specific about the subsidies he was referring to, but consumers are eligible for a $7,500 federal tax credit toward the purchase of electric vehicles like the Chevrolet Volt.

Two Ways

As long-time Diary sufferers know, there are only two ways to get ahead in this world – honestly… and dishonestly. You either provide a service and satisfy a customer (or employer), or you lie, cheat, and steal.

Either way will work on an individual basis. But collectively and historically, they have very different consequences. One leads to economic growth and a fair distribution of rewards. The other leads to poverty and corruption.

The trouble is, in today’s fake news, jackass-riddled world, it’s hard to know which is which.

Herewith, for entertainment purposes only, we attempt to sort them out.

The trouble with lying, cheating, and stealing is that it doesn’t add wealth. It just moves it around.

Peter is robbed to pay Paul. Paul is happy with the deal. He wins. Peter loses. But ultimately, everyone is worse off. To paraphrase ex-British prime minister Maggie Thatcher’s famous comment on socialism, eventually Peter runs out of money to steal.

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