Apparently, Cash for Clunkers was just what we all said. It looks like all the program did was "pull forward" auto sales from succeeding months. And that makes sense. Consumers aren't ready to make big-ticket purchases yet. The state of the economy is very unsettling and the "Two Legislations of the Apocalypse" - Healthcare and Cap & Tax - are weighing heavily on the pockets of consumers.
Look for this today. And manufacturing ain't lookin' real healthy, either.
1 comment:
What it proves is that a significant number of Americans are not stupid, and recognize free money when it's waved in front of them. And not only do the rest of the taxpayers fund this directly, we also pay for the increased government administrative costs for a program that will have a zero-sum net effect on the economy.
The Chosen One Says: "Gotcha, suckers!"
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