John Cordes

Wall Street: Dumb as It Ever Was

"One world, one heart: let's get together and feel alright." Freaking funny. Good article. I swear, I think Larry Kudlow is auditioning daily to be the co-host of the O'Reilly factor.
I think in actuality it's not the psychological factor of crossing 10%, it's the analysts and traders looking for another intangible catalyst on which to swing the market, with help of course from CNBC. After all, not volatility, no profits, no fun.

Cash for Clunkers May Cost Up to $45,354 Per Vehicle

Tax rebate or deduction fails to target the intended goal, get poor mileage, pollution spewing dangerous vehicles off the road and replace them with cleaner, fuel efficient cars while boosting car manufacturing and all the collateral service jobs that go with it. A tax deduction only works if you have enough taxable income to receive a deduction, ergo, only wealthier Americans would get the benefit, the ones who actually are most likely to buy a new car anyway and precisely the group less likely to be driving a piece of crap that needs to be taken off the road. The rebate simply makes the program a bit more democratic, insofar as anyone can take advantage of it.


On Aug 01 10:38 AM tonym wrote:

> "Finally, the real economic impact is actually a boon insofar as
> it leverages the purchase from the consumer four or five to one at
> minimum, produceing local sales tax, jobs, distribution, recycling,
> future warranty work etc. I think your article is politically motivated,
> untruthful, and flat out wrong. "
>
> Presenting valid numbers is not "political." This program might have
> benefits for our struggling economy. Incentives are a good idea.
> But the cost of this program is excessive like most government interference.
> Debt is going to destroy the government itself as it is doing in
> California. Those benefits could easily be duplicated by significant
> tax deductions for purchasing the new vehicles.

Cash for Clunkers May Cost Up to $45,354 Per Vehicle

Clever gymnastics, but it doesn't hold water and is calculated to be controversial without genuine veracity. The real cost is the subsidy amount. The argued economic impact supposedly robs future sales that have been deferred. Not true! Already many news stories have shown people making repairs just to get their clunkers in for the trade that would have otherwise sat on blocks or never left the shed or carport.

As any salesman will tell you, there is no sale and no propect of one until a client walks in the door. Can't make sales in an empty showroom. Dealers are reporting as high as one to one non rebated sales taking place as a result of the added traffic.

Finally, the real economic impact is actually a boon insofar as it leverages the purchase from the consumer four or five to one at minimum, produceing local sales tax, jobs, distribution, recycling, future warranty work etc. I think your article is politically motivated, untruthful, and flat out wrong. Other than that, good job.

Obama's Donut Economics

So?

2009 Market Outlook: I'm Taking the Middle Road

I see a dart board. I see a blind fold. I see predictions without predications, justifications or analysis. I see erronious conclusions.