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"...toys for the affluent"

David A. Stockman's article in New York Times (remember the brodering...) is absolutely worth reading. This is another take on reality than what main stream media pumps and is valuable for all to consider. However, being a Tesla customer and desperately longing for my P85 to show up, I did not like the last part of this paragraph...

"The “green energy” component of Mr. Obama’s stimulus was mainly a nearly $1 billion giveaway to crony capitalists, like the venture capitalist John Doerr and the self-proclaimed outer-space visionary Elon Musk, to make new toys for the affluent."

http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html...

Anyone who writes that WWII helped end the Depression isn't worth reading. While I agree with the general thrust of the article, it really doesn't have much real analysis. And what does this have to do with the Model S?

Oh - so sorry. Got the wrong forum. I'll move it

@ shop

Happy now?

I find David Stockman sickening! After no bid contracts and severe overspending of taxpayer funds for DECADES by Halliburton, and XE, etc; after the trillions subsidizing oil and gas companies, and their wars, after all the protections for Monsanto, and big pharmaceutical companies, big banks and hedge funds, and others who profiteer on war and disease, it is unconscionable to label as "crony capitalism" investments in development of such technological advancements as better batteries, electric cars, solar and renewable energy sources, and a more efficient grid, to provide a better future for humanity!

What about all the wasteful and unnecessary spending on projects and systems the military does not even want! What about all the resources used to spy on us all? And what are all these super expensive weapons systems anyway but "toys of the affluent," and the ultimate in "crony capitalism?"

+1 imherkimer

Whether you like it or not, the innovations from Silicon Valley, and hence, all the technological change in the world today would not have been possible without John Doerrr and his 'crony' capitalists.
And as for Elon Musk, has David Stockman actually started up a business that survived the the crash of 2000 and is an important part of e-commerce today? Or built a real working production car that is disrupting the century-old car industry? Let's not even mention building a rocket that will one day reach Mars?

His last sentence gives Stockman away as a bitter, envious, has-been politician hanging on to his past, totally befuddled by all the changes that have happened to his cosy worldview. Indeed, politicians and economists are best known for their extremely low signal to noise ratio.

Tesla's loan had nothing to do with the Obama stimulus package. Solyndra's did, and there were two parts. I think a total of 1 bn went down that rathole.

Ironic. Wasn't Stockman the guy who touted trickle-down economics (the idea that... companies that make owners rich also employ people, how radical) under Reagan?

What a total schmuck. He's completely wrong about TARP in general.

While Tesla may be currently building transportation (not a toy to me) for the affluent, the same technology and investment is eventually going to benefit a much larger market. That's the short sided thinking of Republicans, even ones who dare to criticize St. Ronald Reagan. The Elon Musk investment gets labeled "crony capitalism" but the billion dollar corporate welfare subsidies to the oil industry - crickets.

I believe the stimulus package (including the $$$ for Solyndra) was originated by George Bush. Remember how George caused the near second great depression in 2008.

Neech, the American Recovery and Reinvestment Act was passed in Febuary 2009 . This is referred to as the Stimulus package....this is one of Obama 's great accomplishments , wasting $ 787, 000,000,0000.00. Now we all know that Bush did a lot of crazy things. He is not the one torturing an American private, Bradley Manning.

Bush is considered the Father of the Modern Electric Car.. The $ 7500.00 tax credit

umm, Elon is "self-proclaimed" ?
the guy created at least three very successful companies, two of them in the industries where we haven't seen new players in ages, let alone successful players.
What planet is Stockman from ?
Apparently one that Elon didn't get to... yet.

Stockman isn't completely in the weeds. A bit off base with Musk but spot-on in other areas.

Scroll for transcript...

http://www.peakprosperity.com/podcast/81371/david-stockman-federal-reser...


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