Good Morning Gentle Readers,
Forty-four degrees, windy and raining here at Casa de las Rocas Grandes. That's not entirely unwelcome as it means snow capped mountains, clear air, and hills as green as all of Scotland for Christmas.
And now we pause for a word from Ford, Chevy, and Chrysler.
Back in the day, I mean way back in the day. My dad's day, that is, Cadillac was more than a luxurious upscale automobile. It was also a noun. An archaic slang term. A descriptive modifier. Old Guys used it to mean something of unique and enduring quality. One might describe the Rolex watch as the Cadillac of watches. Except that wouldn't be true today. But you see how that works.
CONgress has rented a spine, or at least it would appear so, and declined to sweeten the deal for Detroit. That won't likely stop it from happening. Looks like GWB and Hank Paulson will personally wheel-barrow the cash out to Dulles where it will be offloaded into the Big Three's waiting corporate jets for a quick trip back to Dee Troyt. Your tax dollars at work, Junior.
Here's the thing: We have little control over how CONgress or the Lame Duck disposes of our hard earned. But in the market, we have a choice. At least until CONgress does for Detroit what they did for Harley Davidson a couple of decades back. You know, tariffs and quotas. Wait, come to think of it, that's what they did for Detroit as well. Well, at least Harley built a better bike. Not better than the rice burners, but better than Voit did.
Think about this: Ain't nobody holding a revolver to your head forcing you to buy a Ford or a Chevy. It's your choice. Pay them now and pay them later. Or just pay once. Through payroll deductions.
Lastly, I have a few clients in a world of hurt about now. It's Christmas and several are hanging by a thread. Ain't no bailout coming for them. All that's coming is a bill from Uncle Sugar. Exactly how immoral is it to take my guy's money to give it to Waggoner and the UAW?
Let them eat fenders.
TWC on why Detroit can't compete. Here and here.
Tip of the glass to Terry S, SASOB, Brian P, Mo, Adrian, & Tanya,