News Roundup

With US automakers scoring a big FAIL!, the Detroit Free Press has made it into my news reading lately. Today’s Freep frontpage story implies that the Obama administration wrote off automakers for bankruptcy months ago, despite whatever happened those following months. As details emerge in bankruptcy...

Tomorrow’s wingnut headlines today

The boys and I at Prognostication Nation have run some computer models, and we think we know what today’s news will look like tomorrow … for wingnuts. Headline #1: Based off this story — By 2011, GM aims to shrink its U.S. work force to 38,000, which is less than one-tenth of what the...

Forget nationalizing banks

Let’s nationalize GM, first. General Motors Corp. and Chrysler LLC told the federal government they need at least $21.6 billion more combined in bailout loans to put them on the road to recovery, and outlined possible scenarios if either auto maker should have to file for bankruptcy protection....

Factchecking. How quaint.

One of the prime “outrages” fueling the brawl over the Big Three bailout is the apparent disparity between pay for Big Three workers versus those employed by the foreign auto manufacturers in their plants in right-to-work states.  The implication, of course, is that the UAW is to blame for the...

Meanwhile, in Central Asia a bailout costs…

Compared to the $25 billion that GM wants, this sounds cheap: The Pakistani rupee [their currency, whose value has been falling leading to inflation in Pakistan] ended flat on Friday, steadied by expectations that the first tranche of a $7.6 billion loan will be released by the International Monetary Fund...