Jen Kuznicki
Michigan Radio did a story on Senator Stabenow after news that A123 battery systems, a taxpayer subsidized green company filed for bankruptcy last week.
A company that got a quarter-billion dollar grant declared Chapter 11 bankruptcy this week. A123 employed hundreds of people in Michigan at facilities in Livonia, Romulus, and Ann Arbor.
Stabenow said the subsidies remain an important part of national energy and economic policy—even if some of the investments don’t pan out.
SOME investments? The number is up to 36! Don’t pan out? Hundreds of people will be out of work, and Debbie Ann Stabenow isn’t concerned in the least.
“We cannot afford to have China or Germany, on the other end that’s trying to out-compete us, win those battles, so that we go from foreign dependence on advanced batteries, wind, or solar,” she said.
Yeah, because then the whole, ‘we gotta go green to end our dependence on foreign oil’ would end up being, ‘we gotta stop depending on foreign solar and wind and oil.’ The truth is that China will always out-subsidize us, and when you work for a bloated, detestable, ravenous federal government, like Debbie does, that’s the kind of competition that will ruin your career.
We can only hope.
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One Response to Stabenow will never stop subsidizing failed green companies with your tax dollars.
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The solution is really quite obvious. Stop subsidizing the subsidizers. Smart ideas will attract private venture capital that is only too willing to take a chance on a good idea. In fact they are not really taking anywhere near the chance that government does with your money. When the money is free and the idea is bad the process and not the result is what is consequential; when a democrat administration confiscates and expends your money, in their minds it is first about jobs which create voters and second about whether the product or service can sustain itself in a free market.
If the Chinese keep subsidizing a bad idea that fails they, like we, will also fail. They will not voluntarily do that because they are fascists who will sell their products for more than what they spend in so called subsidies. That is what fascists frequently do. Substitute the subsidy with private money and you also have a functional system which is called capitalism. That is supposed to be the American way. Failed fascists are the same as failed capitalists; only in the former case it takes you longer to go out of business because you are using the people's money. China has a solution for that. If you fail you are also likely to be killed. In America we vote them back in because it is all about jobs. Or is it voters? But it never seems to be about the money; it is really about the intention that counts. That is why Stabenow may seem like an economic idiot but she qualifies as an excellent lying politician capable of baiting the voter.
A simple and smart solution is to let the less wasteful Chinese make a useful and profitable product. Then copy the idea and see if we can make it as well and as cheaply. After all that is what they often do to us. Once we enforce a readjustment of the yuan relative to a dollar (that is fortified by cheap available domestic energy) all this becomes quite easy. And quite profitable as well.