Green Auto-Sales Wilt as US Gov Dumps GM Back on Markets
The Daily Bell – by Staff Report
Obama (left) Bolsters U.S. Hybrid Automobile Sales in Waning Consumer Market … President Barack Obama’s administration has bought almost a fourth of the Ford Motor Co. and General Motors Co. hybrid vehicles sold since he took office, accelerating federal purchases as consumer demand wanes. The U.S. General Services Administration, which runs the government fleet, bought at least 14,584 hybrid vehicles in the past two fiscal years, or about 10 percent of 145,473 vehicles the agency purchased in that period, according to sales data obtained by Bloomberg under a Freedom of Information Act request. In fiscal 2008, hybrids accounted for less than 1 percent of government purchases, the data showed. The government is boosting investment in a technology that has failed to win broad acceptance after more than a decade in the marketplace. Consumer sales of hybrids are headed for their third consecutive yearly decline. – Bloomberg
Dominant Social Theme: Incredible surprise.
Free-Market Analysis: “Competition is a sin,” said one of the richest men in the world; his approach to commerce trailblazed the ruthless, capitalist way of modern business. In fact, a tiny, intergenerational, familial Anglo-American power elite of incredible wealth runs the Western world the same way today so far as we can tell. It fosters whole industries and corporate participants as it chooses. It creates these industries through mercantilism, by pulling government levers for private gain. Over time it installs such privately run facilities as central banks and government regulatory agencies that operate under the color of law but benefit a very few at the expense of the many.