Thursday, May 28, 2009

GM Bankruptcy

What trend does the government ownership of GM indicate?

It looks like GM will soon follow Chrysler into bankruptcy and most are saying that the federal government will own 70% of the company after pouring billions into them. My comments on the Chrysler bankruptcy apply here... the government getting into the consumer product manufacturing business is a move toward socialism.

It sounds like the Obama administration is going to take an active role in running GM by appointing board members. I'm sure that GM will become a massive laboratory to demonstrate to the world how an automobile business should be run to turn out vehicles with better gas mileage. We'll see. The federal government does not have a sterling track record when it comes to running businesses... Amtrak and the US Postal Service come to mind.

There is an arrogance here that government can do things better than the private sector which reveals the spirit of the Antichrist. As Daniel 7:88 says, "I was considering the horns, and there was another horn, a little one, coming up among them, before whom three of the first horns were plucked out by the roots. And there, in this horn, were eyes like the eyes of a man, and a mouth speaking pompous words" (NKJ). The Antichrist follows Satan who is the father of all pride... "For you have said in your heart: 'I will ascend into heaven, I will exalt my throne above the stars of God; I will also sit on the mount of the congregation on the farthest sides of the north; I will ascend above the heights of the clouds, I will be like the Most High.'" (Isaiah 14:13-14, NKJ)

Our prideful government will eventually be humbled; God will see to it. "Pride goes before destruction, and a haughty spirit before a fall" (Proverbs 16:18, NKJ).

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