Free Markets, Free People

Fisker

Obama finally creates jobs. In Finland. With your money.

This is just the theater of the absurd masquerading as government:

With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.

Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland.

"There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company’s founder and namesake told ABC News. "They don’t exist here."

That’s just absurd.   Half a billion dollars of taxpayer guaranteed money to a company in Finland with no guarantee that the coal powered cars they’re building would be built here and create jobs here.

Nope, according to the company’s founder, “no contract manufacturer in the US could actually produce the vehicle”.

We’re finding out about that now?  They didn’t know that before they approved the loan guarantees?

Yet another example of government picking winners and losers with your money.  And, as usual, doing a dismal job.  They’d like you to think they do due diligence on these sorts of deals, but example after example point to utter incompetence, not to mention the fact that government shouldn’t be doing this in the first place.

Dumb and dumber at work with your tax dollars.

Don’t you feel all warm and fuzzy inside?

Oh … and it will be the “Volkswagon” of electric cars made for the little people:

Fisker is more than a year behind rolling out its $97,000 luxury vehicle bankrolled in part with DOE money.

Amazing.

~McQ

Twitter: @McQandO