Cash For Clunkers
Here’s an idea for wealth creation that can’t fail:
Let’s encourage everybody with a particular asset that has value - namely a car worth less than $4500 - to sell it to the government so the government can then destroy it. The government will finance the purchase of this soon-to-be destroyed asset with money borrowed from foreign investors (since it doesn’t have any money of its own and seems unconcerned with the prospect of exponentially rising levels of debt). Then, after the asset is destroyed, the remnants of it will be shipped abroad in the form of scrap metal, so that foreign manufacturers can re-form this metal in to a new valuable asset that Americans will be more than eager to purchase with money they still don’t have.
Yeah, that should work.
Let’s encourage everybody with a particular asset that has value - namely a car worth less than $4500 - to sell it to the government so the government can then destroy it. The government will finance the purchase of this soon-to-be destroyed asset with money borrowed from foreign investors (since it doesn’t have any money of its own and seems unconcerned with the prospect of exponentially rising levels of debt). Then, after the asset is destroyed, the remnants of it will be shipped abroad in the form of scrap metal, so that foreign manufacturers can re-form this metal in to a new valuable asset that Americans will be more than eager to purchase with money they still don’t have.
Yeah, that should work.
posted by Andrew Kern at
9:41 PM
3 Comments:
And when the $1 billion for the program that was supposed to last until November runs out after a few days, just throw another $2 billion into the mix.
By
Tristan, at 02 August, 2009 09:19
In one sense, the folly seems so obvious. Yet, if one says that the emperor has no clothes, one is told that one is naive.
By
Realist Theorist, at 03 August, 2009 13:30
we should arbitrage this and buy clunkers on craigslist, then turn around and get our 4500 credit. ha!
i'm sure that scam is well underway with this program.
By
Wesley R. Gray, at 13 August, 2009 14:01
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