Media Fail: Government Motors Inflates Sales by Selling to...the Government

July 10th, 2012 10:44 AM

The Jurassic Press was in full-throated ObamaChorus mode in reporting on General Motors (GM)’s allegedly strong June sales.

Very few failed to receive the sheet music.

General Motors June US Car Sales Rocket 16%

GM's June sales up 16%, show broad-based growth

GM June U.S. Sales Up 16%

Mentioned was that We the Taxpayers were conscripted to bailout GM to the tune of $50 billion

General Motors' US sales up 16% in June

General Motors (GM) Shifts Gears on Strong US and China Sales

GM June Sales Up 16%

The Jurassic Press mentioned the bailout so as to allow President Barack Obama to continue to campaign for reelection on its titanically-failed “success."

GM speed(s) to strong June

GM (NYSE:GM) Announces Record Strong Sales

General Motors' US sales up 16 pct in June

Not mentioned was the auto bailout will lose us about $30 billion

General Motors (NYSE:GM) Cheers to Reports US Sales Surges 16%

General Motors (NYSE:GM) Beats Analysts Sales Forecasts

GM Sees Highest Sales Since September

Almost all of this $30 billion Taxpayer loss was in fact a gi-normous payoff of the Obama-Democrat stalwart United Autoworkers Union.

GM Races Higher on Sales Report

GM Sales Rise 16%

GM June US Sales Rose 16%

While the Union was thoroughly bailed out, We the Taxpayers are still stuck holding 500+ million shares of GM stock.  Which we need to sell at $53 per.  Which debuted post-bankruptcy at $33 per.  And which is currently trading at just over $20 per.  Meaning we’ll lose about $15 billion.  How’s that for “success?”

GM Calls June Highest Sales Month Since 2008

General Motors (GM) June Sales Highest Since September 2008

GM June 2012 Sales Climb 15.5 Percent to Highest Month Since September 2008

And in all this Hosanna-reporting, nowhere to be found is the inconvenient truth that these huge June sales were mostly fueled by...government purchases.

We now learn that government purchases of GM vehicles rose a whopping 79% in June.

Meaning Barack Obama is now campaigning on the “success” of - the government buying cars from...the government’s car company.  With our money.

That’s like you setting up a lemonade stand for your kids.  You buy them the lemons, sugar, cups and pitchers - and then buy most of the lemonade yourself.

Except you are President Obama.  Your kids are the United Autoworkers Union.  And the lemonade cost $50 billion.

At least you get to tax your neighbors for the $50 billion.

Again - in what Bizarro-world is this auto bailout the “success” the Jurassic Press incessantly reports it is?