Cash for Clunkers buyers regretful

Originally posted by nixie_nox
reply to post by Tentickles

 

What does that have to do anything. No one forced these people to buy a car.How absurd.

Because Government intervention in the market creates mal-investment. It's comparable to the FED setting interest rates at record lows. What happened there? It created easy loans, which triggerd mal-investment.... obviously...

So to answer your question, It has everything to do with this. No mal-investment in horribly made automobiles could have occured if the Government never created Cash for Clunkers. Pretty simple really...

And yet now, because of that stupid program, you, me, and everyone else that did not use this rediculous scam to buy a car, will end up paying for those that did in the long run.

This ends your lesson on why government intervention in the market is always a terrible idea, and how it always...... always..... ends badly.

Good day.



[edit on 7-9-2009 by aravoth]

Though I'd like to blame poor financial choices on Obama, this has been going on long before Obama came around. People would add to the finance the amount they're upside down on the old car.

If they were $10K upside down on their old car, they'd tack that onto their new $30K car and be $40K in debt. How stupid.

Obama did create the Cash for Clunkers program that was a sugar high for car dealers and a few small car factories. Now the sugar high is over, and it will slowly dawn on us that imports far outsold domestics, and that's going to hurt GDP (Net Exports will go negative).

reply to post by eldard


When will the idiot american realize they need to avoid all debt and also stop buying brand new cars. Buy a used car that you can afford to buy in cash. I've done that all my life.

Jessica is right..my firned at work told me what he learned about what happnes too yuor cars you surrendered..they pour some kinda phsphorus or something in the engine. What it does it basically melts the pistons to the cylinder walls. So any atempt to retart the car, with our without a key, will be guarnateed futile. The cars, are simply going to be gutted inside out, metal melted to make other things with, the rest....junkyard heaven.

The so called clunkers I saw on the car lots were actually nice vehicles. One was a Ford Ranger. Looked like a 2001 model without noticeable body damage. Such a shame because it was such a nice truck. Such waste.