News. President Barack Obama will announce a $250 million loan guarantee today to finance Ford Motor Co. exports, as he defends his administration’s bailout of the U.S. auto industry, according to a White House statement.
Obama will tour an automobile factory in Chicago, where Dearborn, Michigan-based Ford, the only Big 3 U.S. automaker that didn’t take bailout money, will begin assembling the new 2011 Explorer later this year.
My reaction? This is good news for the unions (re: November elections) and Ford, and Michigan.
What about the rest of us? I get the feeling I am being left out. Just throwing around money to favor specific industries is the kind of industrial engineering has never worked (remember the 1970?). Could it work this time?
You can rest assured that the markets always win.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
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