Comments on: Surprise: Demand for new cars collapses after Cash for Clunkers ends

By: mankai

mankai — Tue, 22 Sep 2009 19:01:02 +0000

Another shoe to drop… increase in used car prices:

http://www.newsday.com/classifieds/cars/used-cars-scarce-in-montgomery-1.1464731?localLinksEnabled=false

By: SKYFOX

SKYFOX — Tue, 22 Sep 2009 15:34:06 +0000

This economic abortion was spectacularly unsuccessful and proved harmful in the end. So when do we make it permanent?

By: kens

kens — Tue, 22 Sep 2009 13:43:40 +0000

Not to mention that it reportedly cost $1.38 in government administrative costs and overhead for every dollar of rebate issued. So much for the $300 plus million in ‘savings’. And oh, by the way, the average cost of used vehicles is artificially high because of the reduced stock that was crushed.

By: MarkTheGreat

MarkTheGreat — Tue, 22 Sep 2009 12:33:10 +0000

How much of the so called “end of the recession” predictions were based on the “improved” auto sales of the last few months?

By: oldleprechaun

oldleprechaun — Tue, 22 Sep 2009 12:09:51 +0000

exciterated is a Tigger word straight from the Hundred Acre Wood. Wonder how real estate is doing there…

Gee, I dunno. I’ll bet Joe Biden could tell us, let’s ask him!

By: But it's a LAGGING INDICATOR! - TurboBuick.Com

But it's a LAGGING INDICATOR! - TurboBuick.Com — Tue, 22 Sep 2009 05:21:51 +0000

[...] it’s a LAGGING INDICATOR! Hot Air Blog Archive Surprise: Demand for new cars collapses after Cash for Clunkers ends [...]

By: Common Sense

Common Sense — Tue, 22 Sep 2009 04:59:57 +0000

We don’t buy new cars. This only jacked up the used car prices which hurts kids and those with less income.

In these uncertain economic times, it would be foolish to go into debt for a new car.

By: UnderstandingisPower

UnderstandingisPower — Tue, 22 Sep 2009 03:24:13 +0000

Read more on this story at http://www.wnd.com

It’s beyond disgusting!

By: Vashta.Nerada

Vashta.Nerada — Tue, 22 Sep 2009 03:19:54 +0000

The container freight is down 20% = Christmas sales will be down.

the_nile on September 21, 2009 at 7:20 PM

Exactly. Anything that will be on the shelves for Christmas is already in warehouses or en route, and not much is en route.

By: chickasaw42

chickasaw42 — Tue, 22 Sep 2009 03:08:27 +0000

Obama was bragging about thousands of auto workers getting recalled last week at his union love-in. Wonder how long that’s going to last?

By the way, I believe there is a cash for appliances coming up next month.

By: mdenis39

mdenis39 — Tue, 22 Sep 2009 02:58:33 +0000

10.2% tax on pop, cookies, junk food in Illinois now.
$5 million dollars for a carton of smokes.

Knucklehead on September 21, 2009 at 6:45 PM

That 10% tax is on everything in Cook County, not just soda & junk food & not in all of Illinois.

By: marybel

marybel — Tue, 22 Sep 2009 02:55:25 +0000

I don’t know about youse guys, but I’m not buyin’ no new car until the next “Cash for Clunkas.” I be waitin’ til them, I tellin’ ya.

I may be a conservative, but I ain’t “‘tupid”, ya know?

By: miron

miron — Tue, 22 Sep 2009 02:50:05 +0000

Million, billion, trillion… You wingnuts will nitpick anything.

Million, billion, trillion . . . pretty soon we’ll be talking serious money here!

By: Merovign

Merovign — Tue, 22 Sep 2009 02:39:06 +0000

Stupid stupid stupid stupid stupid.

Waste billions of taxpayer dollars, distort the market and leave dealers high and dry, destroy real property of value, and encourage increased personal debt in a recession.

It’s the “breaking windows” theory of economic recovery as debunked by Bastiat a couple hundred years ago.

I would pay the rest of my income for the year to get a “do nothing” President and Congress, and I’d probably come out financially ahead.

I doubt those idiots could do more damage if they tried – assuming they’re not trying. I’d rather be governed by a bunch of 5-year-olds with Aspergers than these nitwits.

By: ya2daup

ya2daup — Tue, 22 Sep 2009 02:32:58 +0000

According to their new CEO, They’re putting their money where their mouth is…

bluegrass on September 21, 2009 at 9:26 PM

…around an appendage …not necessarily their own

By: ya2daup

ya2daup — Tue, 22 Sep 2009 02:30:05 +0000

I just have to ask… what happens when the gov takes over health care and runs out of $$ in the first weeks that was supposed to last the whole year.

UnderstandingisPower on September 21, 2009 at 8:00 PM

This is already happening in the Bureau of Indian Affairs’ health care system. They have a saying, “Don’t get sick in the second half of the year when the money’s run out”.

By: ya2daup

ya2daup — Tue, 22 Sep 2009 02:25:50 +0000

Wait until the good folks who took advantage of C4C find out they have to pay taxes on that $4500 bucks.

Poop hits fan.

Knucklehead on September 21, 2009 at 5:55 PM

The larger chitstorm will come when zombies who expect a tax refund every spring discover it’s shrunk or they may even owe money because The Precedent’s “tax cut” was simply a change in the withholding rate, not the tax rate.

By: Jim Treacher

Jim Treacher — Tue, 22 Sep 2009 01:36:24 +0000

Million, billion, trillion… You wingnuts will nitpick anything.

By: bluegrass

bluegrass — Tue, 22 Sep 2009 01:26:03 +0000

According to their new CEO, They’re putting their money where their mouth is.

If thats true the money back gaurantee isn’t worth the paper its written on.

By: Mervis Winter

Mervis Winter — Tue, 22 Sep 2009 00:58:49 +0000

Billions of Dollars to Be Burned Under New “Cash for Cash” Program http://optoons.blogspot.com/2009/08/billions-of-dollars-to-be-burned-under.html

By: Rockygold

Rockygold — Tue, 22 Sep 2009 00:53:56 +0000

I am curious to see the loan defaults from people who were so exciterated they bought more car than they probably could afford. And am curious to see the outragous outrage when people figure out they have to pay tax on their gift from the government.

And yes, exciterated is a Tigger word straight from the Hundred Acre Wood. Wonder how real estate is doing there…

By: PatMac

PatMac — Tue, 22 Sep 2009 00:48:46 +0000

C4C rebate of $4,500 – take off appx $2,000 because you traded in something of value. Take off another $1,000 due to taxable income of $4,500. Then take off another $1,000 because dealers have raised their prices due to frenzy of consumers buying before program end. Let’s see $4,500 rebate minus $2,000 trade, minus $1,000 taxable income, minus $1,000 for higher price and you net out about $500. Yep, great program for everybody.

Sorry about hitting submit too soon previously.

By: PatMac

PatMac — Tue, 22 Sep 2009 00:39:09 +0000

C4C rebate of $4500

By: angryed

angryed — Tue, 22 Sep 2009 00:01:27 +0000

Have you all seen GM’s desperation? 60 day money back guarantee. Hmmm, a free rental for 2 months. Might go pick me up an Escalade with 22″ DUB wheels this weekend.

By: UnderstandingisPower

UnderstandingisPower — Tue, 22 Sep 2009 00:00:13 +0000

Uh, wasn’t this program supposed to run through sometime in October? I just have to ask… what happens when the gov takes over health care and runs out of $$ in the first weeks that was supposed to last the whole year. Can they cancel that program early too?