Economics 101 - FAIL

One of my fondest memories is watching John Rogers, the headmaster of Thomas Heyward Academy, pound his head on a cement block wall when Jasper County Chairman DP Lowther announced - "We were in the red but I borrowed more money so now we're in the black, and everything is good!"

What IS it with stupid people who don't understand how money works? Not even the basics?

The American public bailed out GM with money that it didn't have; it borrowed on future hopes and dreams, not reality. Then they started the "Cash For Clunkers" program that was supposed to go until November - which it didn't, it is already out of money as people have turned in their "old" and not-so-old cars to government-owned-and-operated GM for new cars and trucks. So now the government wants to borrow even more money to ensure that this program lasts, "because it is doing so well". WHAT THE FUCK?

Is no one thinking AT ALL?

Where is this money coming from, and will it ever be paid back - and by whom?

The whole idea for "trade in allowances" is so that the receiving dealership can make money on used car sales - either on their own lot or with sales to a broker. That won't happen, because the money forked out for these cars, FAR OVER THEIR ACTUAL WORTH, is gone. GM doesn't care, it isn't "their" money, it's the government's. The "buyer" doesn't care; s/he's got their cash and their brand new vehicle. Whether or not they will still have them, or be able to pay for them, six months down the road, doesn't matter. Whether they will have a job six months down the road, or even food to eat, doesn't matter. Deguvmint is givin dem money now bygod and they will take it, and the purty shiny new car too.

Thanks, I'll stick with my Toyotas. No government had to bail them out; quality vehicles that sold for far less than a GM plastic fantasy. Tough and impossible to kill, even with bullets in the radiator. Paid for and proud, no cost now, except taxes, tags and insurance. And the fuel to run them (not very often, I don't go anywhere much). Not for me the lure of increasing debt and then the inevitable casting off of the unusable, overly expensive GM albatross from around my neck, no thanks. I won't buy into the whole "gubbermint owes me a car, too!" scam being perpetrated on the stupid. Although I do know who will be eventually paying for it, just like Jasper County's dream of being in the black while delving ever deeper into taxpayers' pockets. Betcherass.

My beloved friend John must have concussed himself by now. Are people really this stupid? Yes, by god, they are. The Cash for Clunkers program is a success, oh, my yes indeed. Until the time comes - and it always does -to pay the piper.