The Wall Street Journal highlighted yesterday that the used car market is incredibly tight right now and prices are unusually high – making this an excellent time to sell your used car (or trade it in on a new car, which is, of course, what our government would consider the patriotic thing to do.) Gee, I wonder why this might be?
The economy’s not exactly booming along. People aren’t spending a ton of money (since they don’t have any), and gas is over $4 in most of the country.
Why, oh why, would there be a shortage of “pre-owned” automobiles?
Oh wait. Could it be because the wizards in charge DESTROYED over 600,000 of them last year in the Cash For Clunkers Scheme?
Naw. That can’t be it. Because that would mean taxpayers paid for the first scandalous waste of money to destroy things which still had value, and now are paying higher prices for the remaining vehicles.
In essence, the taxpayers are paying twice – once for the clunker, and again in the form of higher prices for used cars now. (Plus of course the deadweight loss of value inherent in the government administration of this idiotic fraud.)
Golf clap for our government. Brilliant. Well done.