8-4-9 Business News- Cash For Clunkers Report- #cash #for #clunkers #business #news

On Fox news Business, the rising cost of used cars thanks to Cash for Clunkers

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RT @nomadinthecity Gov’t is chemically killing clunkers’ engines.. http://is.gd/22qbl #cash #for #clunkers

What Mr. Mueller discovered is that sodium silicate is the designated agent of death for cars surrendered under the federal cash-for-clunkers program. To receive government reimbursement, auto dealers who offer rebates on new cars in exchange for so-called clunkers must agree to “kill” the old models, using a method the government outlines in great detail in its 136-page manual for dealers: Drain the engine of oil and replace it with two quarts of a sodium-silicate solution.

RT @andrewmccann Cash for Clunkers results: Clunkers- 15.8 MPG, New Cars - 25.4 MPG! http://bit.ly/mPIhf #cash #for #clunkers

Vehicles made by the three largest U.S. automakers — General Motors Co., Ford Motor Co. and Chrysler Group LLC –were fewer than half of sales under the program through Aug. 1, according to Transportation Department data obtained today. The companies accounted for 47 percent of the clunkers transactions.

About 80,500 transactions had been logged at the National Highway Traffic Safety Administration, which is administering the program. That doesn’t include the backlog.

Vehicles traded in under the program averaged 15.8 miles per gallon, compared with 25.4 miles per gallon for the new purchases, or a 61 percent improvement, according to the Transportation Department data.

Glenn Beck exposes the privacy clause on the government cars.gov website

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RT @TheEconomistClunky but effective - Why cash-for-clunkers schemes make sense right now http://ow.ly/15JONp #cash #for #clunkers

The boost in demand that the rebates have brought about is exactly the sort of stimulus that is urgently needed to escape what John Maynard Keynes called a “liquidity trap”. According to his theory, consumers may become so worried about the economy that they cling to as much liquid wealth as possible, cutting their spending sharply and thereby triggering precisely the slump they feared. Moreover, as stimulus policies go, cash-for-clunkers looks to be unusually effective. Admittedly, that is not an especially demanding measure, given that Keynes favoured, if need be, burying money in bottles for people to dig up and spend. Cash-for-clunkers has many benefits beyond simply getting more money passing through the hands of consumers and into aggregate demand.

RT @moneymatters Obama administration withholds data on Cash For Clunkers program http://tinyurl.com/ln89ks #cash4clunkers

Transportation Secretary Ray LaHood said Sunday the government would release electronic records about the program, and President Barack Obama has pledged greater transparency for his administration. But the Transportation Department, which has collected details about 157,000 rebate requests, won’t release sales data that dealers provided showing how much U.S. car manufacturers are benefiting from the $1 billion initially pumped into the program.

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