How To Nationalize GM, Ripoff Investors, Gift It To The Unions & Deny It's Communism

From Wikipedia:

Nationalization is the act of taking an industry or assets into the public ownership of a national government or state. It is a central theme of certain brands of 'state socialist' policy that the means of production, distribution and exchange, should be owned by the state on behalf of the people to allow for rational allocation and operation, and rational planning or control of the economy. Many socialists believe that public ownership enables people to exercise full democratic control over the means whereby they earn their living and provides an effective means of redistributing wealth and income more equitably.

It hasn't even been a full six months since Mr. Barack Hussein Obama arrived in the White House, and he has already nationalized more of the country's publicly traded and private component of the GDP than any other president in history, and that includes the nationalization of the Tennessee Electric Power Company into the Tennessee Valley Authority in 1939.

Indeed, he has nationalized more of the United States in half a year than in the previous 233 years put together.

As General Motors may be just a day or two away from filing bankruptcy, there is no doubt that it will emerge in the Chrysler model: as a fully nationalized, public entity where the stockholders, bondholders and other owners of the company have their investment stripped away with no compensation, no negotiation, no appeal process, and no hope of them ever seeing another penny.

At least when Fidel Castro expropriated all foreign-owned private companies after the Cuban Revolution of 1959, bonds at 4.5% interest over twenty years were offered to U.S. companies. GM investors aren't even being offered by Obama what meagre compensation Castro was willing to give!

Venezuela's current Communist (or... shall we be more Politically Correct and call him a Socialist... or how about Bolivarian...) Lunatic Dictator Hugo Chavez stripped some the world's biggest oil companies of their operational control over massive projects, ordered the nationalization of the cement industry; of the Sidor steel mill; of a cement plant owned and operated by Cemex; and has just taken over all rice processing and packaging plants in his country.

Hugo is universally decried as a tyrannical socialist / communist / marxist / whateveryourfavoritepinkotermis dictator who ignores the legitimate property rights of corporations and their legal shareholders and simply seizes whatever he wants from the investors with no compensation, no negotiation, no appeal process, and no hope of them ever seeing another penny.

Hmm... is there an echo in here?

I have yet to have a single person I have encountered be able to explain to me why Chavez is clearly acknowledged as a communist, but Obama is not. Indeed, the new United States President is so overwhelmingly popular among his citizenry that most of them take profound offense at the slightest hint that Obama is actually the USA's Hugo Chavez.

I'll take the comparison one step further. Obama has nationalized more of the United States' GDP in six months than Chavez managed to do to the companies constituting Venezuela's GDP in his entire first electoral term.

Which begs the question... what will the United States look like after another three and a half years of Obama? I shudder at the thought.

In a reply to comments on my Hub, How Obama's Undeniably Marxist Communist Policies Threaten America, I stated:

Obama's long standing collaborations with profound Communist individuals and organizations such as Saul Alinsky, Bernie Sanders, the Weathermen, Acorn, Code Pink, MoveOn, Democratic Socialists of America, et al. are indisputable. Most of the time that he spent in Chicago was in profound involvement with almost unanimously socialist / communist organizations. Simply because Obama did not take the politically suicidal step of carrying a Communist Party Of America card does not in any way detract from his profound Marxist views which he is currently implementing as American policy. Could any avowed card carrying Communist have dealt with the GM and Chrysler situations in a way that would be more in line with Marx & Engels? The majority of the shares of Chrysler were given to the unions without a penny exchanging hands! If that isn't nationalization on behalf of the proletariat, then I'm Tom Cruise.

CNN Money just published an article entitled GM bondholders reject offer which includes these paragraphs:

If GM does go into bankruptcy, the source said that Treasury believes the bondholders would likely get even less than what was offered.

"In any kind of liquidation scenario, they would get nothing or something unbelievably small," said the source.

The stock being offered bondholders would be equal to only about 10% of the company. GM's stated plan is for the government and a union-controlled trust fund to own 89% of the company between them.

OK. Full stop. Let's take a deep breath. All of the Obama sympathizers who want to accuse me of being the offspring of an unholy union between Mephistopheles and Rush Limbaugh can take the deepest breath of all. Time out.

Calm now? Good.

Please explain to me... in factual, clinical, logical, and verifiable terms... and remember I'm saying please... how taking a huge multinational corporation that was 100% publicly owned just a few months ago, and seizing 89% of that same company from the investors with no compensation, no negotiation, no appeal process, and no hope of them ever seeing another penny (I know... that echo again...) in order to hand it over to bureaucrats in the government and the proletariat... er... the union

IS

NOT

A

COMMUNIST

ACT

???

Again from my Hub comments:

If it walks like a Commie and quacks like a Commie, it must be a Commie. Therefore, my opinion is that based on the hard facts on the President's background which cannot be disputed, Barack Hussein Obama is a Communist. I have no more fear of stating what I clearly understand to be the facts about Obama's ideology than I have to state that George W. Bush was a right wing nutcase. I find it very interesting how in the majority of American society it is perfectly PC to call right wingers extremists and crazies, but those charges can never be levied against the left without provoking widespread outrage.

Ok. Let's hear it. Let 'er rip. Please keep it clean in the comments, or I'll delete them.

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Comments 16 comments

eovery profile image

eovery 7 years ago from MIddle of the Boondocks of Iowa

Good hub,

It is amazing how blind people are. Things happen right in front of them, and they cannot even see it. "it is starting to hit the fan" This is just the start of things.

Keep on hubbing!


Hal Licino profile image

Hal Licino 7 years ago from Toronto Author

Thanks! The astounding thing is that we're barely five months into this administration and the massive lurch to the left that the country has been led into is the single greatest ideological sea change in 233 years!


Misha profile image

Misha 7 years ago from DC Area

It is a communist act, no doubt Hal. Yet the problem is he is acting as people want him to act. Americans never lived in hardcore socialism/communism/fascism whatever your label is, and they can't recognize the looks. They will eventually, when it is too late. Probably it is too late already.

I guess we'll have a summer full of idiotic optimism, stock market rebound, and worldwide economy improvement. All atributed to wise actions of American president. Then will come fall. Should I say free fall? I guess so. Very free, nothing will be able to stop this unrestircted falling. And this will be time for you to run to the woods, and for me to flee the country...


Hal Licino profile image

Hal Licino 7 years ago from Toronto Author

As usual, Misha, I couldn't agree more. Americans have generally become fat and lazy and have let their guard down, completely disregarding Thomas Jefferson's eternally applicable dictum that "the price of liberty is eternal vigilance." Most Americans are asleep at the wheel and have put all their chips onto the bet that this young, bright, charismatic master of oratory will guide them out of the wilderness, instead of bringing the country to ruin. If they are unlucky enough to ever taste totalitarianism (which is the exact direction the country is headed) they will understand the error of their ways, but it will likely be too late. Believe me, my friend, my preparations for a bugout away from the madness which may engulf the cities continue unabated, and I agree that we are in for a very short run of "idiotic optimism" before the roller coaster starts plummeting downwards again.


James A Watkins profile image

James A Watkins 7 years ago from Chicago

Unfortunately, it is exactly as you say it is, friend.  He has a powerful coalition behind him: the unions, largest corporations, lawyers, intellectuals, professors, school teachers, Hollywood, environmentalists, New Agers, minorities, community organizers, internationalists, judges, atheists and all others who despise our country, our patriotism, our military, and most of all haters of God and Christianity.


Hal Licino profile image

Hal Licino 7 years ago from Toronto Author

Thanks, James A Watkins. It should be no news to anyone that Communism is atheistic and I truly do have to wonder about a man who refuses to wear an American Flag pin, refuses to place his hand over his heart during the National Anthem, and deeply bows to the Saudi King? Is this REALLY the President of the United States???


James A Watkins profile image

James A Watkins 7 years ago from Chicago

Alas. 'Tis true.


Hal Licino profile image

Hal Licino 7 years ago from Toronto Author

I honestly thought I'd never live to see this day. :(

What drives me around the bend is that enlightened people like you and me seem to be few and far between. There have been some strong supporters on the comments on this series of Hubs about Obama's American brand of communism, but there have been just as many who have rejected every word I've written, even really great people and longtime fans like Paraglider.

I'm simply aghast that this can be so invisible to so many otherwise intelligent people! :(


Charles Duchaine 7 years ago

What gets me is the tactics this commie used to get elected in the first place. he reached out to the totally uneducated (politically) demographic. the vast majority of his constituency in the election couldn't have cared less about his political views. they voted because they believed they were being promised a handout. How many people did we see on the news saying Obama was gonna pay their mortgage or their gas bill? He's a wolf in sheep's clothing. He took advantage of our electoral process by deceiving the people and getting people to the polls who shouldn't even have been allowed to vote. After this past election, I find myself wondering if, upon registering to vote, you shouldn't be given a competency exam in politics before your right to vote is granted.


Hal Licino profile image

Hal Licino 7 years ago from Toronto Author

RIGHT ON! I support your viewpoint 100%, brother!


Charles Duchaine 7 years ago

Thank you. I read all your other blogs and couldn't agree with you more. All your views hit the nail right on the head. Its such a breath of fresh air that, in this vast sea dominated by liberals, I can find someone out there who echoes my sentiments exactly. i will continue to look for your posts. I hope to find some of the same stimulating content that I've seen so far. When the liberals start attacking you and calling you a racist, take it as a compliment. It's too bad we're the minority!


Hal Licino profile image

Hal Licino 7 years ago from Toronto Author

I truly and profoundly thank you for your support.


Diane Gregg 6 years ago

Many people voted for Obama because of his skin color, the historical nature of his campaign, because they hated Bush, because he is physically attractive (in some people's opinion, not mine), and because he was promising them checks in the mail, free college educations, to end the war immediately and other lies. None of the above are good reasons to vote for anyone for anything.


Neda  5 years ago

Wow. This was a rather shocking read. But when I read some of the comments left by your readers, I am not surprised at all! Like Charles Duchaine proclaims above, 'When the liberals start attacking you and calling you a racist, take it as a compliment. It's too bad we're the minority!' Glad you are so proud to be racist...do you proudly display a KKK card wherever you go? And I love how people would rather see a kid die due to lack of health care coverage ("pre-existing conditions") before this health care reform kicked in. Yes, that's very ethical indeed, just like the policy of rescission where a health care company can retroactively drop you once you have a legitimate claim...never mind that you've paid faithfully for these services. Anyway, I know you'll just go and delete my comment anyway, I am willing to bet on it. This looks like the thread where unless you show your unanimous support in bashing our President of the United States (who is just as white as he is black), you get deleted. Lol. Very objective.


test1 5 years ago

from test1

Neda, if you do not see that he is a communist, then you are doomed and will be an instrument of his destruction of our system. It has taken his party ten years to tear the housing system apart and now he they are working on the banks - you had better wake up and vote these facist out of the system. If you believe the Unions are looking after your interests, then I feel sorry for you and all who believe in ths dogma.


3 years ago

Seriously people?

If you believe Obama is really a communist then you have been woefully misinformed by the right wing propaganda machine. First of all, the bailout of GM was NOT a communist act. The government stepped in when Chrysler and GM were on the verge of declaring bankruptcy and bough enough shares to keep it on its feet, preventing millions of Americans from losing their jobs in the process. GM and the government have already created a plan to have the government sell back all of its shares by 2014, meaning GM and Chrysler will be exactly 0% government owned. Sounds just like communism to me (sarcasm). True the government bailout of the auto-industry will likely cost taxpayers roughly $1 billion, but it's far better than an America with no auto industry at all. And this is the worst case scenario of the bailouts. Every bank that received a bailout in 2009 has already paid back the money WITH interest. Let's not forget that it was under Bush's watch that the auto industry collapsed and the toxic mortgages were lent out at a mind-numbing pace just so the crony-capitalists could turn a quick buck at the expense of millions of American. To sum up, if you're going to argue that Obama is a communist, you're going to have to do a whole lot better than hold up the very TEMPORARY nationalization of the auto industry as an example. Do some real research people are stop being fed talking points from solely republican blogs and new organizations.

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