Don’t Put Your Money on a US Recovery - #economy #cars #stimulous

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	Don’t Put Your Money on a US Recovery - #economy #cars #stimulous

JICWyllie

8-6-2009 5:52 AM

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tags:

1-policy, 1-spending, 1-stimulous, 2-failure, 2-risks, 3-forecast, 4-us

JICWyllie says:

Building a new car produces far more CO2 than it uses during its lifetime, even with hybrids. So paying people to buy new cars, instead of extending the life of their old ones, goes directly against the Obama administration's avowed objectives.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/27e3aa0f-7bb0-4b66-8a06-18231dca35c6/24FF0499-6348-4AC5-B918-BDC83F5052F9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/" href="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/" style="font-size: 11px;">dailyreckoning.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/"><STRONG>‘Cash for Clunkers’ is a hare-brained scheme…but that doesn’t make it unpopular.</STRONG></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/"><P>If so, why not apply the concept elsewhere? <STRONG>How about cash for houses? Cash for liquor? Cash for newspapers? Cash for trips to Europe?</STRONG></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/"><P>What’s so special about autos, in other words? And why is it a good thing for people to buy cars?</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/"><P>Oh c’mon, dear reader…don’t pretend you don’t know. The auto industry is huge…with many lobbyists and many organized groups interested in its wellbeing. It is an old and well-established industry with plenty of political clout.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/"><P>Here’s the problem: the meddlers are not only up against tomorrow’s industries…they’re up against tomorrow itself. It’s not as if Americans needed cars. Not at all. They’ve got plenty of wheels already. Three car households are typical. And they’re fairly new cars. <STRONG>Americans were on a buying spree during the bubble era, 2001-2007; they bought new cars along with everything else.</STRONG></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://dailyreckoning.com/dont-put-your-money-on-a-us-recovery/"> All they can do is roll next year’s buying into the present year.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/24FF0499-6348-4AC5-B918-BDC83F5052F9/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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