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Cash for Clunkers...
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<blockquote data-quote="brett636" data-source="post: 1096339" data-attributes="member: 249"><p>I thought it would be important to dig up this thread for one very good reason. I predicted that as a result of cash for clunkers used car values would rise as the supply was stifled due to this horrendous program. Case in point my truck. I own a 2000 F150 XLT 4x4 that I use for getting around in bad weather, general hauling, etc. I've owned it for the last 6 years and I check its used value from time to time. Last time I checked it was over a year ago and it came up about $8400. Today I just checked it and the value has <strong>risen</strong> to $9500. Now I am not one to complain about this rise in value of an asset that I own, but I do recognize that my truck isn't the only one that has gone up in value. If I were to try to replace it with a newer truck my guess those values also remain artificially high due to cash for clunkers. I realize the damage has been done, but feel its important to highlight that feel good government programs do little, if anything, to stimulate an economy. They also hurt those on the lower income brackets because as the price rises trucks like mine become too expensive for them to purchase. Congrats to Obama and company for doing the exact opposite of their intention by making life tougher for those that they purport to be helping.</p></blockquote><p></p>
[QUOTE="brett636, post: 1096339, member: 249"] I thought it would be important to dig up this thread for one very good reason. I predicted that as a result of cash for clunkers used car values would rise as the supply was stifled due to this horrendous program. Case in point my truck. I own a 2000 F150 XLT 4x4 that I use for getting around in bad weather, general hauling, etc. I've owned it for the last 6 years and I check its used value from time to time. Last time I checked it was over a year ago and it came up about $8400. Today I just checked it and the value has [b]risen[/b] to $9500. Now I am not one to complain about this rise in value of an asset that I own, but I do recognize that my truck isn't the only one that has gone up in value. If I were to try to replace it with a newer truck my guess those values also remain artificially high due to cash for clunkers. I realize the damage has been done, but feel its important to highlight that feel good government programs do little, if anything, to stimulate an economy. They also hurt those on the lower income brackets because as the price rises trucks like mine become too expensive for them to purchase. Congrats to Obama and company for doing the exact opposite of their intention by making life tougher for those that they purport to be helping. [/QUOTE]
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