Cash for Clunkers Was a Complete Failure

[Fife]

Keynesianism is not just wrong most of the time. It's not just wrong in an academic sense. It is an abject failure in every instance.

FEE:

Cash for Clunkers Was a Complete Failure

Keynesian economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out policies that result in more income.

This is one of the reasons I wish people focused more on “gross domestic income,” which is a measure of how we earn our national income (i.e., wages, small business income, corporate profits, etc) rather than on “gross domestic product,” which is a measure of how our national income gets allocated (consumption, investment, government, etc).

Simply stated, Keynesians put the cart before the horse. Consumption doesn’t drive growth, it’s a consequence of growth.

But let’s set all that aside because we have new evidence that Keynesian stimulus schemes aren’t even very good at artificially goosing consumption.

[Speaker to Animals]

He doesn't even begin to explain the worst of it.

Cash for clunkers removed from the market the very vehicles the poor needed to get around. It drove up prices for used cars which really hurt the working poor the most.

Trying to discredit keynesianism with this is fucking retarded, though. Seriously.

[Fife]

Yes, Keynes did a good enough job discrediting himself without any outside help. The effects of history are just so much topping piled on. really.

[TheReal_ND]

Good by 500 doll hair corollas. You will be missed. Tbh keeping those junkers on the road was already illegal for the poor in cities with emissions testing though. I ran out of mechanics to pay off years ago when they moved to the one sticker

[C-Mag]

Who would've guessed

You can add to the list of failures Obamaphones.

Obamaphones Fraud As High As 65 Percent
A massive portion of Obamaphone recipients are receiving the benefit after lying on their applications, according to a new 90-page report from the Government Accountability Office (GAO).

http://dailycaller.com/2017/06/29/two-t ... eing-poor/

[Okeefenokee]

Who would've guessed

You can add to the list of failures Obamaphones.

Obamaphones Fraud As High As 65 Percent
A massive portion of Obamaphone recipients are receiving the benefit after lying on their applications, according to a new 90-page report from the Government Accountability Office (GAO).

http://dailycaller.com/2017/06/29/two-t ... eing-poor/

poor guy

[C-Mag]

What's BHO care, he's frolicking around at the most expensive resorts in the world, and no one is asking him about Cash for Clunkers, Obamaphones or Solyandra. All they ask him is how Trump is failing.

[tue4t]

Like most lefty ideas, it reveals itself to be totally stupid when analysed beyond the surface veneer.

It was forcing overpayment for garbage, which is a destruction of wealth, not a creation. The same way making everyone buy stale bread at $100 a slice certainly makes for some happy bakers, at the expense of everyone else having less resources allocated towards goods and services they actually want.

Americans were supposed to have learnt this hard lesson from FDR's retarded price fixing and deliberate food destruction during the great depression. Forcing transactions to take place at artificially high prices requires a destruction of wealth whether as a cause or a result.

[katarn]

Like most lefty ideas, it reveals itself to be totally stupid when analysed beyond the surface veneer.

It was forcing overpayment for garbage, which is a destruction of wealth, not a creation. The same way making everyone buy stale bread at $100 a slice certainly makes for some happy bakers, at the expense of everyone else having less resources allocated towards goods and services they actually want.

Americans were supposed to have learnt this hard lesson from FDR's retarded price fixing and deliberate food destruction during the great depression. Forcing transactions to take place at artificially high prices requires a destruction of wealth whether as a cause or a result.

True. But so many lessons in that vein are generational- they only stay learned as long as those who learned them are alive, and maybe a bit beyond that. It's because those things feel good at the surface level or analysis.

This goes back all the way; early histories/legends show it; the Israelites turned away from God until they got plundered and learned that the pleasures of the East were less valuable than the safety of their original God, until they died off, then a few years later the cycle began again. The sacrifice of quality for gratification is probably as old as the first humans.

[heydaralon]

Cash for gold is great though. I've been trying to get other people on the forum to get in on this with me. We are going to make a killing! So far only Martin, Fife and Kybkh are collecting gold with me, but we are going to pool it all together and laugh all the way to the bank. And there's no way to know what the gold is even worth until we talk to one of Cash for Gold's trained appraisers!