Friday, May 01, 2009

May Day, May Day

It is hard to figure out if, today, the call “May Day! May Day!” is one of celebration or distress.

Our economy is in deep trouble. Unemployment, personal bankruptcy and mortgage default rates are at record levels. One of the countries major automotive manufacturers, Chrysler Motors, declared bankruptcy earlier this week. A new strain of flu is threatening lives around the world. Seems like a good time to send out a call for help across the universe.

Yet the first of May is a day of celebration with ancient origins that marked the end of tough winter weather and the beginning of easier warmer weather (at least in the Northern hemisphere). More recently it has become a day of recognition for workers. Indeed, May 1st is International Workers’ Day commemorating the socialist movement on behalf of labor.

With the President of the United States having fired General Motors chief executive officer and now actively participating in the negotiations surrounding Chrysler, we need to look carefully at the extent to which our capitalist economy may be irreversibly morphing into socialism. If your answer is yes, then pick up a flag and join the May Day parade!

Neither the author of the Small Cap Strategist web log, Crystal Equity Research nor its affiliates have a beneficial interest in the companies mentioned herein.

1 comment:

Foxwood said...

If you've been properly indoctrinated, Obama is the greatest President in US history. If your of traditional American moral values, our country is in a sorry state.