Generational Dynamics Forum - New Site

From the Detroit News Article Linked Below wrote:
The Obama administration awarded $2.4 billion in stimulus grants in August 2009 for advanced batteries and electric vehicles, saying the awards would create thousands of jobs.

The president set a goal of 1 million electric vehicles on the road by 2015, but sales have totaled fewer than 40,000 since 2011. Many battery suppliers have created a small fraction of the promised jobs.

President Barack Obama hailed A123 and even invited the company's CEO to the Rose Garden in April 2010.

"This is what happens when we place our bets on American workers and American businesses. And we're going to continue working to help them manufacture more success stories like these across all sectors of our economy," Obama said.

January 29, 2013 at 12:35 pm

The Obama administration approved the sale of most of bankrupt battery maker A123 Systems' assets to Chinese firm Wanxiang Group Corp.

A123 filed for bankruptcy in October ( 2012 - at the time Obama called claims by the Romney campaign that A123 would be sold to China false )

In November, Michigan's two senators and 11 House members raised concerns that the acquisition of bankrupt battery maker A123 by a Chinese company may pose a "threat to U.S. national security."

In a letter to Treasury Secretary Tim Geithner — who chairs the Committee on Foreign Investment, which reviews the sale of U.S. companies — Sens. Carl Levin, D-Detroit, Debbie Stabenow, D-Lansing, and members of the House raised concerns.

Rep. Bill Huizenga, R-Zeeland, said Tuesday the decision ( the decision by the Obama administration to give the Intellectual property to China as part of the bankruptcy sale ) hasn't "changed my opinion that the core technology developed by A123 and the intellectual property that goes along with it can be separated along A123's business lines. It is also apparent that this technology was developed using taxpayer dollars through President Obama's stimulus program and is now falling into the hands of a foreign company. American taxpayers should not be funding technology that will in turn be used in competition against American companies."

freddy in 2011 wrote:I no longer spend as much time here because I have been studying history and history tells me that while certain things are inevitable, they may also take much longer than you think to come about. In other words, I have learned patience.

It will not be the same is the last time, that we can be sure of, what we can do is look objectively at what is happening NOW and see where the pressures are building up. Sovereign debt is the obvious problem. Japan is likely to blow first and enter into hyperinflation as they are forced to print money to pay debts that are unpayable. This will drive up rates worldwide and will start the cascade that will bring down one economy after another.

--Fred

Higgenbotham wrote:

freddy in 2011 wrote:I no longer spend as much time here because I have been studying history and history tells me that while certain things are inevitable, they may also take much longer than you think to come about. In other words, I have learned patience.

It will not be the same is the last time, that we can be sure of, what we can do is look objectively at what is happening NOW and see where the pressures are building up. Sovereign debt is the obvious problem. Japan is likely to blow first and enter into hyperinflation as they are forced to print money to pay debts that are unpayable. This will drive up rates worldwide and will start the cascade that will bring down one economy after another.

--Fred

Fred, I remembered your last post from 2011 and find it well worth repeating certain parts of it at this time. Thanks for checking in, which served as a reminder of this.

We have recently seen Japan start to print money and rates are going up, as you stated in 2011.

It indeed has taken far longer than I expected. Some time back I had noted the correlations between major Springtime disasters and Fall crashes having about an 18 month lag time, and had expected Fukushima to result in a Fall 2012 crash. The delay caused by the printed money wil not help matters (probably hurt more in the long run) and your post above (top call) appears timely.