Saturday, February 11, 2012

How Accurate Was the Clint Eastwood Superbowl Chrysler/Obama Ad?

I am officially tired of Clint Eastwood. Here is a parody of the propaganda piece I refer to:

The automaker bailouts are another example of the broken window fallacy. What did we know about the automakers, ca 2009? That they consistently manufactured goods which were worth less than they cost. So, why keep those firms, and those managers, making automobiles? Why not let new firms bid for the defunct automakers' assets, and hopefully use them in a new way, making products that are worth more to consumers than they cost.

Meanwhile, despite what Clint said, Detroit does not seem to be doing so well.

The people of Detroit are taking no prisoners. Justifiable homicide in the city shot up 79 percent in 2011 from the previous year, as citizens in the long-suffering city armed themselves and took matters into their own hands.
Actually, that is the most bullish Detroit news story I have heard in a long time.


Stagflationary Mark said...

For what it is worth, I had a similar reaction to the commercial.

Here is just one of my thoughts on Detroit's new found prosperity.

If you are interested, I added an exponential failure chart to go with my Petrowages post.

We replaced an unsustainable exponential trend with one that is (exponential decay is sustainable over the long-term). Sigh.

CP said...

LOL. Exponential decay IS sustainable. It could go on... forever.

Stagflationary Mark said...


LOL. Exponential decay IS sustainable. It could go on... forever.

Are you referring to my chart or are you referring to Detroit? ;)

I do love gallows humor. It makes a fine complement to antacids, lol. Sigh.

CP said...

Speaking of Detroit:

[If you have lingering optimism, do a Google search for "Detroit ruins" and see how the city is reverting to wilderness. Property owners default and the properties get quit-claimed from government agency to agency on down to the city, which demolishes the buildings. They plow the bricks and debris into the basement before filling it in with dirt - the land development equivalent of salting the earth.

As we approach the 5 year mark at Credit Bubble Stocks, we can often just reach back in the archives for something relevant.

Stagflationary Mark said...

Memory lane!

I see your Feral Housing and raise you 2007's sarcastic Signs of Hope in Detroit.

Some of the casino's patrons include Detroit's homeless. They used to buy food with the nickels and dimes they received for collecting returnable beverage containers...

More jobs will arrive when Quicken Loans, a mortgage company, chooses the site downtown where it will move 4,000 employees...

CP said...

Yeah, but that company thought that 2007 was the year that Detroit was going to turn around.