Cash for Clunkers revisited- what a waste of money

[srellim234]

http://www.edmunds.com/help/ab....html

http://www.edmunds.com/help/ab....html

This administration just doesn't understand the marketplace.

[audtatious]

Toyota is a customer of mine and I had lunch with them last week. They are hurting since CfC was implemented and canceled. During the month of CfC they had to hire temp help to build cars due to the increase in interest but since that time they have been WAY down on sales. They, like everyone else, knows that those who were interested in buying a car this year simply did it during CfC and their lack of sales since CfC prove it. They are also concerned with new Gov regulations and what it will eventually cost them to support the "effort" based on today's technology.

We spent $25k/car for absolutely nothing in return to the economy. Just like we spent all that money for the 2nd stimulus and it seems to have done nothing as well.

[AZhitman]

...and yet I'm lambasted for "just not giving this Administration a chance".

Damn right. It's because their track record so far SUCKS.

The only reason people aren't pointing at this and asking why Washington got away with such stupidity is we're sick of being called "racist" for criticizing the POTUS.

[AZhitman]

BTW - What happens when 25% or more of those cars are repossessed?

Think about THAT.

My money and your money. Redistribution of wealth.

Pure lunacy.

[audtatious]

What does that really matter? Gov will waste money anyway. Look at the latest out of Cali:

http://www.insidebayarea.com/o...45805

Even after Arnold ordered the state to get rid of vehicles and not order any new ones the Bay Area went ahead and bought 50 Prius and they simply parked them in the parking deck to rot.

Wonder if the guy who ordered them was related to the Toyota dealership owner, salesman, or received favors

[themadscientist]

start sending these f***ers to jail. If enough of these ID-10-T form filler-outers who thinks there are no consequences for waste go to federal pound-me-in-the-a**-prison, there might be some incentive to be more judicious with taxpayer money.

[audtatious]

Looks like the White House is targeting Edmunds now

http://www.whitehouse.gov/blog...nkers

[spank044]

At least it got a few Obama bumper stickers off the road.

The same thing happens everywhere at the end of the budget year. The money left over by a department just gets wasted by them because if they don't spend it all then it shows they didn't need much to begin with. But we all know how greedy people can be.

[themadscientist]

Looks like the White House is targeting Edmunds now

http://www.whitehouse.gov/blog...nkers

It just puts the wunerkind prez' ego and pettiness on display in HD. The attacks against media is hurting him and it's absolutely hysterical.

[srellim234]

aud- that's linked to in the second link that I put up there in the first post.

As I look at the White House claim #2, I can only wonder what industry they will artificially inflate next quarter to meet their growth targets for only that quarter. Cars are now pretty much dead and as inventory sits (those who were going to buy already did) then many of those 70,000 jobs will be eliminated. That means not only do they need to find an industry with 70,000 jobs they can create to break even, they have to pay for even more jobs to show growth.

To work demand and growth must be sustainable and bring new consumers to that industry. The car industry is pretty well saturated.

As I said before, this administration just doesn't understand the marketplace.

[AZhitman]

Looks like the White House is targeting Edmunds now

http://www.whitehouse.gov/blog...nkers

I despise Edmunds, but the WH blog reply is so far off-base, it's laughable.

What MORON wrote that?

70K new jobs resulted from CFC?

Whatever, ladies. Idiotic program, with predictably short-sighted results.

The current Administration isn't misguided. They're STUPID.

[audtatious]

Creating jobs is laughable. Did Toyota have to add jobs due to CfC? Yes, but they were temp positions that lasted a month. None were full-time, perm positions in the least.

[smockers83]

Can I haz high-paying job, too, and be wrong als ze time?

The current administration and it's economic advisory committee doesn't understand economics. That's scary. One of the first things they said about the program was to borrow sales from the future. When you borrow sales from the future to boost sales now, sales will drop after the period of time you set out for borrowing against the future. Real world data supports this as evidenced by statements from Toyota via Matt. The administration doesn't get that they artificially boosted sales, jobs, etc, and when the program ends, we return to the uninflated market.

There is no logic to their thinking and I've proved it wrong before on other matters. I'm glad other people are picking up on it, too.
Modified by smockers83 at 2:07 PM 11/1/2009

[themadscientist]

I picked up on it a year ago. Too bad many people had their brains switched off.

[Cold_Zero]

Actually, our city has rented out the old baseball stadium (Bush Stadium) to the federal government to store the 'clunkers' on their property. I suspect until the government can pay someone to haul the clunkers away. Score one for Indianapolis.

[AZhitman]

So, the program continues to bleed taxpayer money.

Brilliant.

The Japanese and Koreans are most certainly giggling at this Administration's idiocy.

[themadscientist]

Not the Koreans. We haven't had lawmakers throwing down on the senate floor in quite a while and the Republicans don't have to smash down committee room doors to get in.

The Japanese, well, it's been fun watching them of late.

[AZhitman]

No, but they DID sell us an awful lot of cars under a program that was supposed to stimulate the US auto industry.

[themadscientist]

And that is the Japanese's fault how?

[AZhitman]

???

It's not.

[themadscientist]

I got what you were meaning now, I was a bit slow but I'm all better now.

I'm sure there was some minor benefit to American workers at the stateside plant in the form of some work, but other than that not much bang for our buck. Oh well. Obama went to one of those fancy schools, he must know what he is doing, right?