Obama says "You're fired!"

Good for him I say, it was about time

He didn't actually fire him, he asked him to leave in lieu of GM getting another bailout. But yeah, good stuff for sure. I noticed the banks/ Lehman are eager to pay back the TARP money. Could it be because they see Obama is going to require them to play by the rules, instead of taking the money and running, as they would have been allowed to do under Bush?

Obama's economic plans are seen as ruinous by the Chinese, who are expected to buy up all our debt, and by the French and German leaders, who think that Obama will use up all the world's capital for his plan and worse.

Yet, here we see all this apparent glee over the firing of a man that I won't defend. If I had had my way, GM would have been broken up as a company in the 1960s. Anti-trust action would have created more competition and better cars.

GM can't compete partly, or even for the most part, because we have subsidized foreign companies with tax breaks to the tune of about 2,000 dollars a car.

The foreign companies come in, pay less in tax and set up shop with younger workers who need less medical care, while GM has one of the most generous packages for retirees ever.

Now, what is it exactly that Obama understands better about economics than that guy he just fired?

That is not true.

There are plenty of cars that get 30 mpg at GM. GM's sales only dropped about what the Japanese and the Germans did.

Nissan went bankrupt in the '90s and got bought up by Renault, by the way.

The subsidies to the foreign cars make it virtually impossible to beat them. They go to Tennessee and the state of Tennessee gives them money and land and no taxes.

The same crap we do for Wal-Mart.

China manipulates their currency. If they exchanged the dollars for the ruan, the ruan would go up and let them consume and import more and export less.

China doesn't want that. The American companies there for the cheap labor don't want it.

If was the collapse of the banking system that brought about the collapse of car sales.

Go guys! great debate! Thanks for stepping in everyone. :)

Most of you probably know by now that I am a "born-again" Geonomist. See the Geonomics Channel, under "Environment" for related articles.  In as few words as possible, Classical Economics offers a "real" solution through a 'simple' change in taxation policy.