11/10/09 Stockholm, Sweden – As we have all seen, Cash for Clunkers helped juice the US economy’s third quarter GDP growth. Even though it’s more than likely a problem for the economy in the long term.
But who’s interested in those details? The Onion has now captured the inside scoop on how Ford is taking the clunker strategy to an all-new level… with a car for America’s modern age.
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Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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Cash4Clunkers was perhaps the most wasteful thing the Government has ever invented. How can they take our tax dollars to flood the already saturated market with overpriced retail cars? The auto market is already bursting at the seams with used and repossessed vehicles (see http://www.repofinder.com). The byproduct of C4C is that used car values will continue to drop and repossessions will skyrocket.