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Author Topic: Warning over US cash-for-clunkers scheme  (Read 1235 times)

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Offline Chris_

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Warning over US cash-for-clunkers scheme
« on: August 14, 2009, 06:54:58 AM »
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Warning over US cash-for-clunkers scheme

The popular US cash-for-clunkers programme may be drawing money from other consumer purchases and could also undermine future car sales, US economists have warned.

Motor vehicle and parts sales, down 8 per cent on the year, jumped 2.4 per cent from June, according to data from the US commerce department on Thursday, but other retail sales fell 0.6 per cent in July.

“With income flows very constrained and household balance sheets over- leveraged, any incremental increase is likely to weigh on non-automotive sales,” said Joshua Shapiro, chief US Economist at MFR, a consultancy, noting that fading interest suggests current car sales are borrowed from the future.

“Anyone thinking about buying cars in the next several months might as well do it now when the government is giving away $4,500.”


What?  Congress didn't think this one through?  There might be unintended consequences?  Say it isn't so!

 :whatever:

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Offline Celtic Rose

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Re: Warning over US cash-for-clunkers scheme
« Reply #1 on: August 14, 2009, 09:48:39 AM »
Wouldn't this be common sense?   :banghead:  Most people have a fairly set income, if they spend their money in one place, they won't be spending it in another, especially when people are becoming more frugal and more wary of debt because of the recession. 
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Offline Freeper

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Re: Warning over US cash-for-clunkers scheme
« Reply #2 on: August 14, 2009, 04:06:05 PM »
And people want to trust their health care to these bozos. They couldn't even do this program right. It took what 2 days for them to go broke?
What I love is how they keep saying that the rise in unemployment and fall in retail sales is surprising. Anyone with even an ounce of common sense could have predicted this.
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Offline RightCoast

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Re: Warning over US cash-for-clunkers scheme
« Reply #3 on: August 14, 2009, 04:58:19 PM »
Don't know the date of the article but Rush said this earlier in the week.  Plus in my local paper was an op-ed from a greenie pissed off like a SOB because their 2 small good gas mileage Honda's need to be replaced now and THEY don't qualify for the program that only rewards the Planet Killers, not the people who have been concerned about the planet for years already.
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Offline Chris

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Re: Warning over US cash-for-clunkers scheme
« Reply #4 on: August 14, 2009, 09:07:53 PM »
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Offline thundley4

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Re: Warning over US cash-for-clunkers scheme
« Reply #5 on: August 14, 2009, 09:09:33 PM »
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