Well, as we already had figured on this page, the bailouts to the auto makers are the equivalent of throwing resources into a large hole. This past quarter, GM posted a $9.6 billion loss, and the red ink continues to flow.

The Obama solution will be to continue to prop up GM (and the United Auto Workers) and declare war on the foreign subsidiaries that have been doing much better. As all of you know, the government hates competition, and GM is about to become an arm of the U.S. Government, so Honda, Nissan, Toyota, and others need to watch out, because they are going to be targets of a demonize-and-destroy campaign.