Comments on: Clunkermania: Top Good News Economic Story of the Year http://www.citizeneconomists.com/blogs/2009/08/31/clunkermania-top-good-news-economic-story-of-the-year/ Citizen Economists is an online economics magazine written by citizen journalists. These ordinary citizens provide reports and commentary on the current events affecting the economics of the fields they work in. Wed, 08 Feb 2012 04:44:52 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Dan McLaughlin http://www.citizeneconomists.com/blogs/2009/08/31/clunkermania-top-good-news-economic-story-of-the-year/comment-page-1/#comment-17729 Dan McLaughlin Mon, 31 Aug 2009 22:56:44 +0000 http://www.citizeneconomists.com/blogs/?p=1782#comment-17729 A significant problem is that the people who would have bought their cars in the 4th quarter or next year have already done so. Canabalizing future sales is not stimulus. Destroying property never, under any circumstances, creates wealth. The people who bought under the clunkers program definitely made out. They got a benefit, but it was at expense of everyone else who did not need a new car at this time.It is merely another central planning boondoggle. As far as the 4th quarter growth, that remains to be seen. It will be an interesting show. A significant problem is that the people who would have bought their cars in the 4th quarter or next year have already done so. Canabalizing future sales is not stimulus. Destroying property never, under any circumstances, creates wealth. The people who bought under the clunkers program definitely made out. They got a benefit, but it was at expense of everyone else who did not need a new car at this time.It is merely another central planning boondoggle.

As far as the 4th quarter growth, that remains to be seen. It will be an interesting show.

]]>