Saturday, October 15, 2016
Buy Steel (Not Gold)
By eric – October 8, 2016
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First, it decreased supply via the infamous “Cash For Clunkers” program (a “clunker” being defined not by mechanical condition, incidentally, but by the car’s gas mileage numbers). The government paid people inflated sums of other people’s money (an estimated $3 billion) to turn in perfectly roadworthy used cars in for unwarranted, early destruction … in order to “stimulate” demand for new cars.
This was like burning down every third house in a neighborhood to create a “need” for new housing.
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I like that “burn down every third house” as a short hand description.
Sorry, but how can these “RXes” possibly help the economy.
The USA would be so much better off if the Gooferment would take a long vacation!
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