Ah, thank you. (I live in the forest: no radio or TV--- just
satellite internet).It looks like my old Toyota 1992 pickup might
qualify, but who the hell in the USA has the money to buy a new
car?! The "trade-in deal" is therefore utterly pointless.
Desertphile's Desert Soliloquy. WARNING: view with plenty of water
Who has the money to buy a new car? The folks that had the money
without the program. You and I and everyone else are subsidizing
people that could have afforded new iron before the yet another Obama
giveaway program. What's next...new refrigerators?
The catch is the a LOT of the folks buying the new cars CANNOT actually
afford them. Many of the dealers I have talked to say they are planning
for a 50% repossession level after a few months. Sort of like the same
problem that banks had when Clinton required banks to loan money to
people who they knew couldn't pay it back.
To reword his last sentence - what industry does the Obama administration feel
next with the precious and scarce tax dollars of future generations (since this
is all being done
with debt), ignoring the fact that government manipulation policies are usually
contraindicated to accomplish the stated goals of those introducing said
policies, usually due to
the occurrence of unintended consequences and the ignoring of well-known
Sometimes the beloved market forces need a little help, a little priming
of the pump to keep the $$ running uphill. About 65% of the cars
purchased so far were foreign made. Capitalism and globalization joined
at the hip, ain't it great? We'll, not for /everyone/.
Yeah, there should have been a "buy American" clause in the program.
Regardless, you'll also note that GM and Chrysler sales are down. Ford
has maintained the primary share of domestic sales. That's a sad thing
because most Fords are junk. I guess getting a government hand out and
still not providing a more affordable product rubs people the wrong way.
Anyway, GM is run by a bunch of fools. How many times do you need to
redesign a truck model in a ten year period? Frankly, I think the latest
models are butt ugly. Well, GMC managed to not toke on the pipe too
much with the body styling. Chevy's, blech. When the Avalanche model
came out and was adopted as the new norm, I knew it was over...
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