“Where Would General Motors Be Without the United Automobile Workers Union?” asked George Reisman back in 2006. The answer, as everyone outside the Obama Administration or the offices of the New York Times now understands, is: “probably still in business.”
Entirely predictable, the unintended consequences of nationalization of GM and Chrysler will still come as a surprise to Obama partisans and the media.
Meanwhile, the Australian taxpayer will continue to subsidise Australasian Holden buyers, just as they have for decades.
Labels: Barack Obama