Sunday, June 14, 2009

Sentator McConnell implies Ford (F) is DEAD

Unbelievable - this morning on Face the Nation Senator Mitch McConnell very casually implied that Ford Motor Company would cease to exist. (Should we check to see if he is shorting the stock?)
Senator McConnell was discussing health care options when he addressed this matter. He stated that everyone knows that when the government gets involved in private enterprise that it is so big it crowds out all the competition and that soon the competition will cease to exist. As an example of this he gave the auto industry citing the government involvement in GM and Chrysler as creating a big problem for Ford. He cited in particular the government backing for financing of GM and Chrysler cars. He said Ford couldn't complete against the government
If you back track on the reasoning: everyone knows that when the government gets involved in private enterprise that it is so big it crowds out all the competition and that soon the competition will cease to exist. He is saying that Ford will soon cease to exist.

So I guess people will be dumping their Ford stock because according to Senator McConnell, Ford is not going to exist for long...... I happen to think he is wrong in a big way. If I could afford a car, I would consider buying a Ford. It would NOT be advisable to buy stock in Senator McConnell. You could do better.