Cash for clunkers will get many people even more indebted

Discussion in 'Economics' started by crgarcia, Aug 3, 2009.

  1. Only those who were already considering buying a new car will really benefit.

    IMHO, almost nobody should consider getting a new car on credit during this recession.

    Yet many people will get indebted to buy a new car they don't really need, much less can afford.
    Only because they got $4k rebate (already included in the sticker price), anyway.

    As Robert Kiyosaki said in Rich Dad, Poor Day, poor and middle class get worthless things, thinking they are assets.
  2. But that's what the US has become. A nation that encourages people to consume, consume, go into debt, etc, just so the corporate thieves can keep paying themselves bigger & bigger bonuses.
  3. aegis


    This was one of the worst books I've ever read.

    His observations are surrounded by a compilation of fantasy stories and fabricated financial scenarios. I actually don't believe there ever was such a person as "rich dad".
  4. Even if rich dad didn't existed,

    The difference in mentality between poor/middle class and the riches are worth the price of admission.
  5. Yeah!

    Woo Hooo!!!!!!

    Americans having their working cars' engines filled with liquid glass and destroyed, a car that they owed no or little (relatively) money on, all so they can move on up to a much larger monthly payment, when the really bad economic times are yet to come!!!

    Great plan, government, as usual!!!!!
  6. You're not supposed to look that far ahead.
  7. MattF


    Too late; I already bought my telescope :D
  8. You really don't understand what's going on with the U.S. consumer do you?

    There is a TON of pent up demand out there by people who have excellent credit ratings.

    Moreover, as last Friday's GDP announcement called to light, the savings rate jumped sharply to 5.8% - - - which is the highest since 1998.
  9. Illum


    Yea, all these videos on youtube of destroying perfectly good cars is disgusting. This is a sham, total waste of money. I dislike government very much.
  10. Please just go away. Another Skippy.
    #10     Aug 3, 2009