The Golden Truth: 59% of Cash For Clunkers Sales Went to Foreign Cars

Wednesday, August 26, 2009

59% of Cash For Clunkers Sales Went to Foreign Cars

"According to the Department of Transportation, as of Friday, 59 percent of vehicles bought with Clunkers cash were foreign. The top two sellers were the Toyota Corolla and Honda Civic, both made by Japanese auto manufacturers. The only Detroit vehicles in the top 10 were the Ford Focus and Escape." Taxpayer-owned GM and Chrysler didn't even really benefit...

Your Tax Money Went To Japan

Readers can draw their own conclusions as to the usefulness and value-added of this program. I would like to know who's brain-child it was - we know who signed off on it.

4 comments:

Harvey GeeWednesday, 26 August, 2009
So next month they're going to have an article praising the increase in car sales as a sign the economy is improving...

In this economy why are they luring them to buy 2 things they definitely don't need with our tax money.

What bothers me is that this program should be limited to cars getting 30MPG combined average. Why are Hummer and Cadillacs on the list of approved cars to purchase?

With all that spending going on, what's another $3 billion, just a drop in the bucket.
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Dave in DenverWednesday, 26 August, 2009
Hummer and Cadillac are GM/Govt-made cars, although I think Hummer is being sold to the Chinese.

What's hilarious is that this program was rigged to try and stimulate sales of GM/Chrysler/Ford autos, and most of the dough went to the imports!
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EconomicDisconnectThursday, 27 August, 2009
What is funny is Toyota has already scaled back production, they see the one time effect, but US car makers have scaled up, praying for a miracle. Who is righ, the folks who know 15 years od stagflation-deflation or the bubble heads here in the US? Place your bets.
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TermLimitsThursday, 03 September, 2009
What we need is a Cash for Clunker-Politicans Program, where we trade in the shoddy-beyond-the-expiration-date-career politicians in for all the money they have stolen from taxpayers for wasteful programs like this! Turn 'em in now! Start at the top ! There are people in our midst who have no transportation and this program destroyed beautifully used cars, some with many miles left on them. How about those used books? What next? The Consititution?! Our parents? Let's get rid of the riff-raff in Washington D.C. --President, Cabinet, Senate, and Congressional Offices,AFSCME etc!
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

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Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

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http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

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source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.