Though Cash For Clunkers Was Stupid?
 

[URL]http://www.businessweek.com/bwdaily/dnflash/content/aug2009/db20090821_304909.htm[/URL]

[QUOTE]A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it's probably not enough to lift companies such as Whirlpool ([URL="http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?symbol=WHR"]WHR[/URL]) and [URL="http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?capId=526391"]Electrolux[/URL] out of the worst down cycle in the sector's history. [/QUOTE]

Because, you know, the best lesson we learned with the credit crisis is that Americans need MORE debt.

Oh snap! I should take advantage of this too! New appliances here I come! :)

Whirlpool Dishwasher, now with 100% more down cycle?

Can anyone say... gigantic kegorator and fermentation fridge? :D

[QUOTE](Unlike the clunkers auto program, consumers won't have to trade in their old appliances.)[/QUOTE]

I foresee A LOT of people putting the new energy efficient fridge in the kitchen and moving the old one to the garage. Thus, defeating half of the purpose of the system :lol:

[QUOTE=R-Dub;2699734][URL]http://www.businessweek.com/bwdaily/dnflash/content/aug2009/db20090821_304909.htm[/URL]



Because, you know, the best lesson we learned with the credit crisis is that Americans need MORE debt.[/QUOTE]

Well, handing out ARM loans to sub prime borrowers buying a house at its peak value in the last 10 years helped that one.

I dont think its that kind of debt, durable goods, that ****ed people over.

[quote=ScoobySon;2700007]I dont think its that kind of debt, durable goods, that ****ed people over.[/quote]

Tell that to the credit card companies; they have seen a three fold increase in delinquencies and collections.

I know our VISA portfolio has been shot to ****; people simply were living beyond their means.