Topic: Economics
Losing a competitor is now bad? The Wall Street Journal is now quoting corporations, and seriously reporting that losing a competitor is not a good thingby Ken D. Berry, MD
(libertarian)
Monday, December 8, 2008
In the December 9th, 2008 edition of the online Wall Street Journal, I found this very interesting quote. If it weren't for the fact that the entire U.S. population seems to be either off its rocker or smoking crack, it would be hilarious. Considering our current predicament, it is beyond the pale. Here it isFord, which has said it is in better health than its peers, said it wouldn't seek a short-term loan. It threw its support behind the effort to aid the other two, saying "a failure of one of our competitors could affect us all."The first thing I find interesting about this quote is that this respected "gray lady" of journalism is quoting a corporation. Not a spokesman, or a press release, but the corporation itself. Perhaps all employees and board members yelled this blurb in unison This is something we would have done on my high school newspaper.Secondly, Ford has firmly assured us that losing one of their chief competitors would evidently be bad for Ford financially. Wait for it Give that a second to soak in. I've always rejoiced in the past upon losing a competitor (in a sportsmanlike way, of course). For it to be possible for this type of statement to be made by a major corporation, and to be accepted verbatim by the WSJ and put immediately into print, our financial system has to be either run by clowns, or by charlatans. This kind of economic thinking could very well lead a corporation into bankruptcy; that is, if the federal government will allow it.Ken D Berry, MD
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The views expressed in this
article are those of Ken D. Berry, MD only and do not represent
the views of Nolan Chart, LLC or its affiliates. Ken D. Berry, MD is
solely responsible for the contents of this article and is not an
employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
You heard Nancy "bankruptcy is not an option". However consider this- once the Dems have bailed out everyone, who will bail out the US Government? Nobody.
That is where we are headed, and faster than ever. Lookout below.
Cheers, crj
p.s Thanks for all your comments in past. Been nice knowing ya!
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