delta 777

How to Fix the Fed - A Lesson from AIG

Article I Section 8 of the US Constitution specifically assigns to Congress the power:

To borrow money on the credit of the United States...

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures...

There is no Constitutional provision that these powers may be delegated in any form to the FED

Bloomberg Reports Extreme Recession: I'm Shocked

Cash for clunkers is hardly a fair or equitable use of taxpayer dollars-people usually own clunkers for two reasons: either they are too poor to buy a better car (and therefore are too poor to buy an new car), or-if they are wealthy- they have kept the clunker as a secondary back-up car because it was worthless to sell or trade it in. Cash for clunkers selectively rewards the second group, while providing no benefit for those owners who were either prudent or sufficiently conscientious to dispose of a clunker as soon as possible. A possible third group: those who are wealthy enough to have given/sold their clunker to their kids, and now are wealthy enough to arrange an upgrade.
In all cases, despite the immediate gratification boon this gives to auto makers, this program will quickly reflect in future lower auto purchases.
It is also obvious from actual sales information that, in general, the new vehicles purchased under this program are far from being true economy cars.
Cash for Clunkers constitutes investment of taxpayer dollars to a select few individuals for consumable items; as opposed to using this taxpayer money to create infrastructure that will be of lasting benefit to the taxpayer that pays for it. (in addition to the obvious immediate creation of broad-based jobs)


On Aug 02 12:37 PM mushrumps wrote:

> Well, I am "disgustipated" with the clunkers program: 1) merely takes
> from future sales; 2) subsidizes the few who can afford to buy a
> new car with taxes and higher costs on those who cannot; 3) worst
> of all, deprives tens, maybe hundreds of thousands of potential buyers
> of serviceable transportation for $500 or so (think pizza, paper
> delivery people, etc.!)