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Though Cash For Clunkers Was Stupid?

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Though Cash For Clunkers Was Stupid?

Old 08-24-2009, 08:51 AM
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Though Cash For Clunkers Was Stupid?

http://www.businessweek.com/bwdaily/...821_304909.htm

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 (WHR) and Electrolux out of the worst down cycle in the sector's history.
Because, you know, the best lesson we learned with the credit crisis is that Americans need MORE debt.
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Old 08-24-2009, 08:57 AM
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Oh snap! I should take advantage of this too! New appliances here I come!
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Old 08-24-2009, 03:56 PM
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Whirlpool Dishwasher, now with 100% more down cycle?
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Old 08-24-2009, 03:59 PM
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Can anyone say... gigantic kegorator and fermentation fridge?

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

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Old 08-24-2009, 04:06 PM
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Originally Posted by R-Dub View Post
http://www.businessweek.com/bwdaily/...821_304909.htm



Because, you know, the best lesson we learned with the credit crisis is that Americans need MORE debt.
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.
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Old 08-25-2009, 09:46 AM
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Originally Posted by ScoobySon View Post
I dont think its that kind of debt, durable goods, that ****ed people over.
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.
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