Earlier today at an Obama rally in Chesapeake, Virginia, former President Bill Clinton said that American can't export Jeeps to China:
"They used to produce Jeeps in China and they were about to go broke so they had to quit," Clinton said. "You can’t make a Jeep in America and send it to China – it weighs too much, it costs too much to send over there. All they are going to do is reopen their operations there and try to sell Jeeps there too. We’re doing fine here."
Just as America proved to be such a safe haven for immigrants in the latter 19th and early 20th centuries, it is now seen as a safe haven for wealth attempting to escape Europe’s tax collectors and financial chaos and recession in Europe, and for foreign central banks newly enamored of the dollar.
Mitt Romney maintains that "President Barack Obama is holding on to the government's stake in General Motors to avoid an embarrassing financial loss before the election, and says he'd sell the stock quickly if he wins the White House," according to the Detroit News, which recently interviewed the Republican presidential candidate.
Paul Ingrassia, former Detroit bureau chief for the Wall Street Journal, is probably the best broadsheet reporter ever to cover the car business. He and Joseph B. White won a Pulitzer Prize for their articles about how General Motors got busted to corporal by its fool management and union. Ingrassia wrote the book on “The American Automobile Industry’s Road from Glory to Disaster,” that being the subtitle of his Crash Course (2010). Now he’s broached yet a larger subject, the car’s whole effect on our entire nation.
The National Association for Stock Car Auto Racing (NASCAR) has been considered America’s fastest growing sport, quickly becoming a national phenomenon. But a new economic study shows even NASCAR’s powerful engines haven’t been able to keep up with the Obama-era economy.
The Wall Street Journal editorial board writes, “Here’s one good way to consider the vote in 2012: It’s about whether to re-elect President Lisa Jackson, the head of the Environmental Protection Agency, which these days runs most the U.S. economy.” The Journal observes that the Obama EPA has now decreed that “America’s fleet of passenger cars and light trucks will have to meet an average of 54.5 miles per gallon by 2025, a doubling of today’s average of about 27 mpg.”
Yesterday I pointed to President Obama’s alarmingly statist“reasonable” view of his government’s handling of Chrysler and GM. But in focusing on Obama’s ideology, I missed the bigger story. To refresh, here’s what Obama said:
Contrary to what you're hearing out of Detroit, the auto manufacturing business in the U.S. isn't so bad. That's because foreign auto company plants, mostly in the South, are thriving. This is largely because such plants are free from the union albatross that hangs around the neck of the big three auto manufacturers.