Government Motors Guilty of Fraud on Chevy Volt
Posted by Van Helsing at March 18, 2011 1:18 PM
The heavily taxpayer-subsidized Government Motors Volt isn't just an extravagantly expensive lemon, but a fraud. The $7,500 Big Government will give to anyone ideologically unhinged enough to buy one is based on the lie that it is an all-electric vehicle. Actually the Volt is a hybrid, and in many situations will burn through more gasoline than a roomier and much cheaper Honda Accord.
Despite the generous government bribes, few are buying this rolling joke:
Volt sales are anemic: 326 in December, 321 in January, and 281 in February. GM announced a production run of 100,000 in the first two years. Who is going to buy all these cars?
Here's who:
Recently, President Obama selected General Electric CEO Jeffrey Immelt to chair his Economic Advisory Board. GE is awash in windmills waiting to be subsidized so they can provide unreliable, expensive power.
Consequently, and soon after his appointment, Immelt announced that GE will buy 50,000 Volts in the next two years, or half the total produced. Assuming the corporation qualifies for the same tax credit, we (you and me) just shelled out $375,000,000 to a company to buy cars that no one else wants so that GM will not tank and produce even more cars that no one wants. And this guy is the chair of Obama's Economic Advisory Board?
Obamanomics is greenwashed crony capitalism taken to the last extreme of corruption. It's amazing what you can get away with if you've got the media on your side.
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