Says Zero Hedge:
President Joe Biden is going to be expected at the forthcoming Detroit Auto Show that will be taking place in two weeks. It’ll mark the first time he has visited Detroit since his days as Vice President, Bloomberg noted last week.
“I’ll be there. I’m a car guy, as you kind of noticed,” Biden said last week when asked if he was going to attend.
Sure, we noticed. In fact, we couldn’t help but notice that Biden is such a car guy that his administration is trying to force through counterproductive and burdensome environmental and EV requirements for auto manufacturers. Biden apparently has such reverence for the industry he has decided that it needs to be changed in its entirety.
The new requirements and subsidies under the Biden administration have forced automakers to fundamentally change their vehicle lineups and how they operate. They’ve also become a tax on the American people that is dropping straight to the bottom line of auto manufacturers, as we’ve noted over the last week that automakers are raising their EV prices by almost the exact amount that the Biden administration is offering in subsidies to buyers.
Emphasis on that last part is my own. This is the point that I’ve made previously in other realms. The idea that prices go up to the precise degree that government pays into things and regulates them, is precisely why the cost of healthcare has gone through the ceiling in the last 60 years or so, for example.
As for the rest of it, Joe Biden is as much a car guy, as I am a ballerina. If Detroit has any sense at all, and any survival instinct at all, they will laugh Joe Biden out of the joint. The trouble of course is that the attraction of free money provided by an unwilling taxpayer is far too great for common sense to prevail…
