By ATWadmin On February 18th, 2009 at 8:47 am
I see that General Motors and Chrysler have their begging bowl out again this imte looking an extra $21.6 billion (£15.1 billion) in extra taxpayers’ cash to survive, according to restructuring plans filed with the US Treasury last night.
Allowing GM to go bankrupt would cost America more than $100 billion in Government assistance, the company said, as it submitted its request for more bailout money. The struggling carmakers also yesterday revealed plans to slash thousands more jobs, eliminate dealerships and drop makes of vehicles in a desperate attempt to convince the Government that their businesses were viable.
But Robert Gibbs, President Barack Obama’s spokesman, refused to rule out bankruptcy at the troubled companies. They were forced to submit restructuring plans as part of an original bailout agreement reached last December. GM, which received a $13.4 billion injection from the Government under that agreement, said that it needed $9.1 billion more to stay afloat, or as much as $16.9 billion in additional aid if the economy continued to deteriorate.
They shouldn’t get a dime more than they already have received. If they cannot sustain their busines model then it MUST be allowed to crash and burn. Part of the benefit of this recession is culling those businesses which have become bloated, inefficient, lazy. GM and Chrsyler must not be bailed out. However, I do not believe Gibbs when he says that Obama would countenance bankruptcy as an option – trade unionst way to strong for that, I fancy.
By ATWadmin On February 18th, 2009 at 8:43 am
It gladdens the heart to see that even in the depths of a government-created recession, the Child Poverty industry is hard at work seeking to get its grasping little hands on Billions££££ of our cash.
“An extra £4.2bn a year will have to be spent on tax credits if the government is to meet its target of halving child poverty, a report warns. The Joseph Rowntree Foundation (JRF) estimates that 2.3 million children will be in poverty in 2010, missing the 1.7 million target set in 1999.”
As we all know, the “child poverty” being discussed here is RELATIVE poverty, a left-wing political invention, aimed at continuous agitation from the shakedown merchants at Rowntree and elsewhere. It should be entirely dismissed.
By ATWadmin On February 18th, 2009 at 12:05 am
AN ANTIDOTE is available for all that economic gibberish flying around right now.
(what does he mean, ‘right now’?)
Congressman Ron Paul, Lew Rockwell (Ludwig von Mises Institute) and Peter Schiff will all appear on Judge Andrew Napolitano’s internet TV program today (Wednesday) starting at 2:00 pm ET/7.00pm GMT.
You can live stream it here.
By ATWadmin On February 17th, 2009 at 10:33 pm
James Bartholomew has an excellent example of the sheer folly of state driven target..
“Last night I learned of a wonderful absurdity in the world of government monopoly education.
As pretty well everyone will know, head teachers in the government-controlled sector live and die by targets. Their careers depend on them. One of the targets is high attendance.
Then came the snow last week. Most schools in London were closed on the Monday. But more schools managed to open on the Tuesday. Now you might think that those schools whose head teacher and staff struggled into work for the benefit of the children in their care were particularly conscientious. Not in target-land however. They were mugs. Since their schools were open, the many absences of children from their schools on that snowy day will count against them when it comes to calculating how good their attendance figures have been. But those schools which stayed shut will be deemed to have been shut because of exceptional circumstances and their attendance figures will not be affected at all.
So the conscientious schools that opened will be punished with bad attendance figures. The less conscientious schools that stayed shut will be rewarded with high attendance figures. Thus does the state give perverse incentives.”
By ATWadmin On February 17th, 2009 at 10:23 pm
I see that the latest Mori poll shows the Conservatives edging towards 50% – some 20% ahead of the Labour government. If things get worse, as they surely will, I wonder if there will be another move to drop Gordon? I suppose it is getting too late to make a change and the reality is that Labour is doomed come the 2010 poll, the only question is how BIG will the defeat be?
By ATWadmin On February 17th, 2009 at 6:32 pm
So you are a sports star, high up in the rankings of your fellow enthusiasts, andf you confidently expect either to win or to gain substantial earnings from the next stage of the professional tour. But you find you are barred from even entering the country, never mind from the tournament. Have you committed some grave crime? Have you insulted the Head of State? Nope, you have commited the ultimate crime of being an Israeli attempting to play in a tournament in Dubai, one of the United Arab Emirates.
The Al Maktoum family rule Dubai, and they have based the huge rise in investment in Dubai upon being one of the more progressive and responsible areas of the Arab world. We see the move towards acceptance of some Western standards in their promotion of the Barclays Dubai Tennis Championships including a whole host of women, who all of course dress in very short skirts and shorts, no doubt to the annoyance of the stricter Muslims around the perimeter of the stadium. But it’s one thing for a woman to wear a short skirt on the court, and it is another to be an Israeli woman who wishes to play on that same court.
The Dubai Immigration Authorities stated that Shahah Peer had been barred from entering their modern, forward-looking country because of fears about repeats of protests she had faced in New Zealand, but also because of public opinion regarding the Gaza conflict. So much for equal rights in Dubai, or any other scrub-desert outhouse with aspiration towards acceptance into civilized society!
By ATWadmin On February 17th, 2009 at 5:52 pm
Some might state that the appropriate term for this is the Greek word Hubris, or overweening pride, superciliousness, or arrogance.
I prefer the more appropriate German word ‘Schadenfreude’ when I read the story!
By ATWadmin On February 17th, 2009 at 9:48 am
When the history of these times is finally written, hopefully by a dispassionate observer with all research material to hand, will much if any weight or indeed notice be taken of the winner of the race to prove the existence of the ‘Higgs Boson’? “What be ‘dat?” I hear you ask. Well, folks, you’ve been collectively paying somewhere around $7 billion, but probably actually around $12 billion, as no-one actually knows; into the Large Hadron Collider sytem based on the French/Swiss border to allow a bumch of particle physicists to find it, map it and, for all I know, paint it!
The L.H.C works by accelerating particles of summat’ in a very large 17 kilometre diameter circular tube up to speeds approaching that of light, and then smashing them into one another in this very big box which weighs some 12,000 tons.
The L.H.C. was started up some months ago with huge applause from the BBC and other idiots, but was rapidly switched off again when it, like, broke! As the whole caboodle is chilled down to make it work, or when they hope it will work, the scientists then had to wait a couple of months to let it all heat up again so they could fix it.
So after a huge amount of extra expense, the big circular doo-dad is back on target to start up again in September, after which they will once more be shovelling large amounts of very small items round and round in circles, and attemting to take a photograph of the results. This is what is called particle physics, and we are all supposed to be very happy that a very large number of extremely well-funded scientists are engaged in the search for the truth about how the universe started.
I have only two questions regarding this insane project.
- Was anyone out of the three hundred and fifty million people who now make up the European Union ever asked if they would like to spend all of this cash on trying to find something which probably doesn’t exist, except for nano-seconds inside a very large vacuum?
- What’s the point?
By ATWadmin On February 17th, 2009 at 8:14 am
It’s indicative of the debasement in our education standards that Diploma courses in tanning, cake decoration and pottery are being given the equivalent worth as traditional qualifications such as A-Levels in school league tables, according to the exam watchdog Ofqual. The new parity has been brought about by the Government relaxing the rules to allow schools and colleges to count practical qualifications obtained by students along with A-Levels and GCSEs in their league rankings.
It means that a merit in an ITEC diploma in “tanning treatments”, for which students are taught how to operate sunbeds and apply fake tan without streaks over 72 hours, is worth 45 points in school league tables. This is equal to an A grade in one of the six units that make up an A-level in a subject such as maths. The tanning course has been awarded “level three” status in the qualifications database – the designated A-level standard, along with a 30-hour City and Guilds’ certificate in self-tanning. Courses in cake decoration, pottery and flower-arranging also attract similar points values.
Yes – this is surely the way to bring about a well-educated work-force, let them decorate cake!
By ATWadmin On February 17th, 2009 at 8:08 am
Did you read about the HUNDREDS farmers hoping to get grants to modernise their farms who have been queuing overnight outside government offices in towns across Northern Ireland?
The grants are being made available under the EU rural development programme and are designed to help improve animal welfare and farm efficiency. Farmers queuing outside the Department of Agriculture office in Dungannon said they were hoping to get grants for cow mattresses, creep feeders and computerised livestock identification systems. Some farmers are hoping to buy robotic floor cleaners as a way of cutting down on the daily drudgery of sweeping the slatted floors of their cattle sheds. But with just £6m available, many farmers are set to lose out.
Just £6 MILLION, eh?
This begging bowl approach to improving agricultural efficiency is all wrong. The idea that EU grants can lead to an effective rural economy is nonsense but it is all pervasise here in Northern Ireland and none within the political sphere dare contradict it. The sooner ALL subsidies are stopped the better – as this will then weed out all those grossly inefficient farms. But in the meantime, the queue overnight to get the slops from the EU begging bowl.