Another Obama-favored solar firm crashes — after $535 million loan

By David McElroy · September 1, 2011

Politicians make lousy venture capitalists. What’s more, it’s not their own money they’re playing with. It’s ours. The latest proof comes from California, where Solyndra, one of Barack Obama’s pet “green energy” companies, shut down Wednesday even after getting $535 million in federal loans and guarantees.

This isn’t a unique story. Politicians put tax money into projects that meet goals they believe are worthy. The market couldn’t care less what they think. The market rewards what works and makes economic sense. I just wrote a few weeks ago about the continuing failure of state economic planning the last time a government-favored “green energy” firm crashed and burned.

You can see more here about Solyndra workers being turned away from the plant Wednesday. Also, remember that Obama touted the facility just a year ago — when he toured the place — as a “green innovator.” That’s Obama with company founder Chris Gronet.

Why is it so hard to understand that throwing taxpayer money (or even inflated funny money from the Fed) at industries isn’t going to work just because politicians want certain outcomes? Why do politicians have so little respect for the market?

The only thing I can figure is that politicians are accustomed to living in their own little worlds where they believe they can manipulate reality. Will they ever learn that an economy is far too big for them to affect in a positive way? I doubt it. They’re too arrogant and smug for that.

Addendum: I just found a comment about the failure of Solyndra on another site. It’s so representative of the irrationality that we free-market advocates encounter that I wanted to add it — to remind you of what we’re up against. This commenter suggests that the company failed because the subsidies should have been even higher:

“Before anyone jumps to the conclusion that green technology is not profitable and therefore a big scam, or a modern religion if you will, with all of its guilt, shame and asking for money, let me state an opinion that might not be popular here: Maybe, just maybe, the subsidies was too low? I know what you think but let me play an evil’s advocate for a second. How much the fresh air is worth to you? To your children? To your children’s children? To your children’s children’s grandchildren? Well, you get the idea. And what about fresh water? What about cold weather? I am not saying that all of those things should be worth more than 500 billion to everyone but I suggest that we have to account for them in the business plans of companies developing green technology. We have to ask ourselves: Why do we develop green technology? How much money are we willing to waste? What sacrifices are we willing to make? What do we expect to get in return? Those are the most important questions that we should at least try to answer.”

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Here’s the latest of my ridiculous parody shorts. It crossed my mind Tuesday to wonder what a slick and fast-talking car dealer might do right now to try to turn the high price of gasoline to his advantage. So I conceived of a fat and lovable character who tried to sell cars that don’t use any fuel — and then I started wondering if it would be funnier if all the characters were felines. Designing the King Cashpaw character took about four hours, but the rest took only another four hours, so this was a relatively quick piece that virtually wrote itself. I know it’s almost impossible for these parody videos to find a larger audience, but at least they amuse me — and there are 19 of them on my YouTube page now. The first few were very limited, but they’re getting more complex.

The Republican Party is dead. It still exists in name, of course, but it’s nothing but a shell. All that’s left are idiots and stooges and con men of the MAGA party. When Donald Trump is gone — which won’t be long — those populist idiots and pragmatic fools will have no one to follow. Democrats will thrive. They will take more power than ever and they will push the federal government further to the radical far left than ever. When that happens, don’t just blame Trump if you’re a conservative. Blame every person who has claimed to be a conservative and has given up on principles, character and everything else that Republicans once claimed to stand for. As someone who worked as a GOP political consultant for many years, this is disgusting and disturbing to me. Those who have enabled Trump to have almost unchecked power are going to be shocked when they see what they will unleash in the long run. It’s been plain all along what this narcissistic con man is. It’s your fault that you chose to pretend not to see what he really is.

We are ruled by the dumbest and most incompetent people among us — and we have a system which allows stupid and irresponsible people to force the costs of their idiocy onto smarter and wiser people. Can we get away with that? Yes, for quite some time. But we eventually reach a point at which the dumbest of the dumb — who are habitual liars and mentally ill fools — lead us to the disasters and destruction that some of us have seen coming for years. We are approaching that point. And yet most of the idiots around us still wave their rhetorical banners of support for the evil people who are leading us to ruin — and all of them point their fingers at someone else, never noticing that their own enthusiastic support of evil is to blame. When things finally fall apart, blame yourself for your blindness to the evil, not whoever happens to be in power when it happens.

I’ve been making some changes to the site lately and there are more changes coming in the days ahead, so don’t be surprised if you some small differences. This is not a wholesale redesign, but rather the addition of some features. Since they’re smarter than I am, I’ve put Oliver and Alex in charge of the technical work, which you can see in this action photo from the control room of our media complex. I recently added a series of landing pages for readers who randomly discover the site from an Internet search. I’ve also changed the YouTube link at the top of the page to go to the new YouTube channel for video essays that reflect things I’ve already published here. (Here’s a little bit about both of the YouTube channels I’m working on.) In addition, I’m trying to move away from using Instagram, so I’m experimenting with photo plug-ins that will eventually allow me to host the pictures — cats, dogs, sunsets, whatever — that I often take. So don’t be surprised to see more changes. Thanks for your patience. Let’s hope Alex and Oliver know what they’re doing.

I have no use for the theocratic and repressive government of Iran. The people who run the country are cruel at best and evil at worst. The Iranian people deserve freedom. But I have no personal quarrel with anybody in Iran. While I’m not thrilled about a future Iranian government having nuclear weapons, I’m just as concerned about nukes in the hands of politicians in Israel, Pakistan, India, China and Russia. I’m not even thrilled with the U.S., Britain and France having them, either, because I don’t trust any politicians to be responsible with such terrible weapons. All I can say with certainty is that American taxpayers have no business attacking Iran, especially since we’re being forced to pay for this attack in order to benefit the politicians of Israel — and nobody else. If Middle Eastern countries want to fight among themselves, that’s none of my business. It’s not the business of the U.S. government, either. I have no quarrel with anybody in Iran — and having the government which claims to represent me launch an unprovoked attack against a sovereign country will only make all Americans less safe in the near future. This attack is poorly conceived and morally unjustified. Remember that when the Iranians launch attacks that we will then condemn as “terrorism.” What the U.S. is doing right now looks like terrorism to me. And let’s not forget that the attack is the latest in a long line of unconstitutional wars by various U.S. presidents — who have no legal power to declare war on their own, according to the U.S. Constitution.

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