them those loan guarantees is why they were needed in the first place.
They were only necessary because no one would use their own money to
back the venture.
----
and what will Tim say when these guys don't deliver?
BrightSource announced that it closed financing for the Ivanpah SEGS
project. This includes finalizing $1.6 billion in loans guaranteed by
the U.S. Department of Energy's Loan Programs Office.
On Sep 30, 11:22 am, THE ANNOINTED ONE <markmka...@gmail.com> wrote:
> Bunnies And Small Children
> Posted by Tim Nerenz on September 25, 2011 at 7:16pm
> Send Message View Blog
> The math is deceptively simple: minus one plus one equals zero.
> Government cannot add a single dollar to the economy that it has not
> first taken out of it.
>
> The economics are even simpler: people spend their own money more
> carefully than they spend other people's money.
>
> The spectacular failure of "Green Economy" poster kid Solyndra will
> cost the taxpayers over $500 million. More important than why we gave
> them those loan guarantees is why they were needed in the first place.
> They were only necessary because no one would use their own money to
> back the venture.
>
> States and local governments do it too. In Wisconsin, tens of millions
> of taxpayer dollars were wasted on incentives to lure Talgo, a Spanish
> train car company, to locate a factory here that never built a train.
> In the city of Oconomowoc, the government is planning to spend $10
> million, roughly its annual budget, to build a community center that
> will offer wedding receptions in competition with private firms.
>
> Now, if there was a critical shortage of reception venues in
> Oconomowoc, don't you think entrepreneurs like Rick and Rudy Eckert at
> Olympia Resort would expand their space to meet the demand? By the
> way, if you do not know of the Eckerts, you should; liberty has no
> greater friends in the Badger state. And if you live in Oconomowoc,
> you should find out what on earth is going downtown and what it will
> do to your property taxes.
>
> Or if it made economic sense to build railcars in Wisconsin, don't you
> think someone a little closer than Spain would have done so with their
> own money? Should I name them, our industrial entrepreneurs who put
> their family names on the line? Do you think they have lost the
> instincts that made them wealthy beyond even their own imaginations?
> No, it was those experienced instincts that told them not to put their
> own money - real money- into any of these losing propositions.
>
> And I would be curious to know just how much Al Gore lost when
> Solyndra went bankrupt - I would bet he didn't put single penny of his
> own money where that big mouth demands the government puts ours.
>
> "But we need the jobs", the public works lobby will plead. Indeed we
> do need jobs; precisely why government needs to get out of the way of
> those who create real ones.
>
> The statists' promise of jobs created by emptying public coffers on
> this or that high-minded project ignores the far greater numbers of
> jobs that were killed by filling up those coffers in the first place.
> That $500 million that the government tossed down the Solyndra rat
> hole took more like $600 million out of the economy (it takes a lot of
> overhead to piss away someone else's money).
>
> What would taxpayers have done for themselves with that $600 million?
> Add a deck on the house, buy a car, invest in a business, take a
> vacation, buy a Gibson guitar, perhaps? I did, just to say screw you
> to our President and all the union job-killers who have thrown in with
> him. Are going to come and take my rosewood fretboards, too, boys?
> Bring your lunch.
>
> Taxpayers would have spent or saved their own money on something more
> economically viable than Solyndra. More jobs are created, more
> businesses prosper, and more incomes rise when economic exchanges are
> voluntary and people who earned the money decide what to do with it.
>
> Voluntary exchange only occurs when both parties gain more than they
> trade away. No one needs an extra incentive to make a smart deal; it's
> only the stupid ones that need a government subsidy.
>
> The amount of capital is finite, even if the amount of government
> currency used to measure it is not. Government does not create
> capital; it only diverts it to purposes other than which its rightful
> owners would have put it. The rich did not get that way by making bad
> financial decisions, and government did not go broke by making good
> ones.
>
> The crowd squeals with delight when the magician pulls a rabbit out
> the hat; we forget that behind the curtain some child is crying her
> eyes out wondering where her little cuddly bunny went.
>
> Clearly, President Obama hates bunnies and small children; he wants to
> take away $470 billion of their parents' money to fund more stupid
> politician tricks like Solyndra, Talgo, and the Oconomowoc public
> wedding chapel. If we love him, he tells us, we should pass his bill.
>
> I never thought about it before he brought it up, but I guess I love
> bunnies and small children more than I love some slick magician from
> Illinois. The only trick that worked so far for the Great O is the one
> where he talks into a teleprompter and makes the jobs disappear.
>
> So here's a better idea: let's love ourselves and our neighbors and
> not pass the bill. The President will be fine in the love department;
> he has a wife and two daughters and the whole crew over at MSNBC to
> rub his feet.
>
> The government can not pull rabbits from hats and it cannot create
> jobs; it can only create an environment in which job-creators
> flourish, or convince them to invest elsewhere. If the President would
> quit unwisely picking the latter, he would not need to beg us to love
> him.
--
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