07 November 2008 Blog Home : November 2008 : Permalink
In a local restaurant my server had on a "Obama 08" tie, again I laughed as he had given away his political preference -- just imagine the coincidence.
When the bill came I decided not to tip the server and explained to him that I was exploring the Obama redistribution of wealth concept. He stood there in disbelief while I told him that I was going to redistribute his tip to someone who I deemed more in need -- the homeless guy outside. The server angrily stormed from my sight.
I went outside, gave the homeless guy $10 and told him to thank the server inside as I've decided he could use the money more. The homeless guy was grateful.
At the end of my rather unscientific redistribution experiment I realized the homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money he did earn even though the actual recipient deserved money more. I guess redistribution of wealth is an easier thing to swallow in concept than in practical application.
And then there is the excellent Rich Galen on GM etc.Of the three Detroit companies, G.M. appears to be in the most perilous condition. G.M. had been burning through an estimated $1 billion a month this year, and analysts say that figure probably increased significantly in the third quarter.As a result, the company could run out of the necessary cash to pay its bills and finance operations by next year.
- If you have made really bad choices, and
- Have lost lots and lots of money, and
- Have no business plan which exhibits any new thinking whatsoever, then
- You can come to Washington, plead your case, and have Congress give you tens or hundreds of BILLIONS of dollars so you can keep doing what you had been doing which, according to modern economic models, will fix everything.