Kudlow is flat out lying. He hasn't got a clue to the extent in which business in the USA has contracted.

All the tax restructuring and refunds in 2017 that allowed corporations to buy-back their stocks was all for not. Most probably, GM will issue more stock sales. It isn't doing badly. The fact they are striving to maintain a great company in the USA by spending all their ready cash only goes to prove how smart GM's leadership has become. I congratulate Mary Barre for maintaining GM solvency during a nearly impossible time in the USA.

July 29, 2020

By Jamie L. LeReau

General Motors reported Wednesday (click here) its net income tumbled on slow sales and thin inventory in the second quarter, especially of its profitable pickups and SUVs following an eight-week factory closure because of the coronavirus pandemic.

GM, the first of the Detroit Three automakers to release report second-quarter numbers, announced a net loss of $800 million, down 132% from the same time a year ago. Its earnings before interest and taxes adjusted were a loss of $500 million, down 118%. Net revenue was down 53% to $16.8 billion, but GM's China equity income was $200 million for the quarter.

Most striking was its cash burn during the quarter. GM spent $8 billion in automotive operating cash.

But during a call with the media, GM CFO Dhivya Suryadevara said the second half of the year will be better and it should allow GM to pay off the $16 billion revolving line of credit it took earlier this year to get through the pandemic....

The teachers are absolutely correct. Whatever happened to the good, old PTA? I know my parents never faced a coronavirus.

As a matter of fact, this is the first time in American history when students, parents and teachers have to face a sincere danger when the school bell rings and classes assemble. I think the Detroit teachers are absolutely important in protecting the lives of their students.

LEAVE THE STUDENTS AT HOME!

July 28, 2020

By John Wisely

Detroit teachers (click here) say they are prepared to stay home from school next month if their concerns over COVID-19 are not addressed.

"If the members don't feel that it's safe, if the union leadership doesn't feel that it's safe, then we won't show up," Detroit Federation of Teachers President Terrence Martin said Tuesday in a conference call with media and other union leaders. 

Teacher strikes are illegal under Michigan law, but it's unclear how that would be enforced when health concerns are prompting the walkout. Gov. Gretchen Whitmer said earlier this month that rising caseloads could threaten the reopening of schools anyway....

July 25, 2020, was supposed to mean something. It was supposed to be the end of the SARS-CoV-2 virus threatening Americans. That was expensive and to have it fail only to continue the spread of the virus and attack Americans' way of life. There is more expense for the states with a CONTINUING tragedy. This is just one state. Every state in the USA is facing deficits. Congress needs to MAKE THE STATES WHOLE before SARS-CoV-2 arrived.

July 28, 2020

By Paul Egan

Lansing - Having used federal relief funding to help close a $2.2-billion hole (click here) in the state's 2020 budget, Michigan officials warned Tuesday they now face a $3-billion hole for the budget year that starts Oct. 1 and called for more financial aid from Washington.

Gov. Gretchen Whitmer and state Budget Director Chris Kolb both criticized at a news conference a proposed relief plan unveiled Monday by Senate Majority Leader Mitch McConnell as woefully short of what is needed....

Now is the worst time to remove USA troops from Germany.

It is easy to see why USA troops belong in Germany. The Black Sea is a border for Ukraine (click here). Ukraine is an ally of the USA. Ukraine has also received extreme pressure from Russia to relinquish its interest in Europe and an economic connection to The West.

Currently, there are four major war fronts that involve the USA military, the South China Sea and Australia, the East China Sea and Japan, the Black Sea and NATO and the Caribbean Sea and the Atlantic Ocean that also includes the Gulf of Mexico and the nearshore threat of Russia and Venezuela (click here).

Now is NOT the time to remove USA troops from Germany. It only will be misread by the communists trying to undo the stabilizing effect of the USA internationally. 

July 24, 2020

By Tom O'Connor

The U.S. military (click here) has acknowledged Russian equipment and warplanes monitoring its movements in the Black Sea at a time when both countries were holding combat exercises in the strategic region.

One day after Russia's National Defense Control Center reported that radars of the Black Sea Fleet quick-reaction forces picked up a U.S. P-8A Poseidon and U-2S reconnaissance planes and scrambled a Sukhoi Su-27 fighter jet in response, Navy 6th Fleet spokesperson Commander Kyle Raines told Newsweek on Friday that "U.S. 6th Fleet is aware of Russian units monitoring U.S. units in the Black Sea."

"All interactions were safe and in accordance with maritime custom as expected," he added. "We operate within international standards to ensure safety and to prevent incidents, including the 1972 Agreement for the Prevention of Incidents On and Over the High Seas (INCSEA), and we expect no different from other navies."...