Whoops! Cash for Clunkers turns out to be a clunker in it’s own right.
Rememebr when the FedGov borrowed wads of cash from the Chinese that my grandchildren will have to repay to save the environment by getting inefficient old cars off the streets and replacing them with ‘greener” cars?
Nazzo fast, Guido, as Alger is wont to say.
Money quote:
Though almost a million people poured into car dealerships eager to exchange their old jalopies for something shiny and new, recent reports indicate the entire program may have actually hurt the environment far more than it helped.
hat tip Pascal who was right with me in callingthis the malthusian murder of a lot of damned nice vehicles for no good reason, and a gigantic waste of resources.
Yep, and it jacked up used car prices to the point that MANY can no longer afford to buy a car… Lovely, just F’ing lovely…
“If it ain’t broke, we’ll fix it until it is.”
– Federal government
Actually, that’s Kim du Toit’s line — nazzo fast, Guido.
M
On another point, though, remember: you heard it from me. There are no such thing as unintended consequences.
These facts were known an adduced in advance and Teh Won hand-waved them off. You must judge him NOT by his claimed motives, but by the RESULTS he obtains.
The only reasonable conclusions are: A) he dun’t give a flying rat’s ass about the environment, he’s after power and enriching himself and his cronies, B) the tanking of the economy, the looting of the treasury and the People’s wallets is intentional.
Kew–ee–fuckin’-dee.
M
Prezactly.
Oh, there was a “good reason” for C4C. It was created for nothing more than to clear dealers lots of aging inventory of new cars. Another piece of pie for GM.
What escapes attention, is the economic damage inflicted upon repair shops and parts suppliers of post-warranty auto services. A garage owner told me he calculated 15% drop in his business for 3-5 years, until those vehicles come off of dealer maintenance and into the aftermarket services.