We're not dealing with this downturn well, are we?
The more I think on the Cash for Clunkers, the crazier it seems. Let's say the average cost of a new car is 20k. That means that for every 3500.00 spend by the government, the consumer has correspondingly gone into debt by five times that much.
Debt that has to be paid back.
Volkswagon thanks us.
Toyota thanks us.
Honda thanks us.
We are creating a nation of credit serfs. Why not just say, hey, for every 20k you spend on on your credit cards, the government will guarantee 3500.00 worth of it.
Makes about as much sense.
Oh, what does it matter. It's all pixels, right? Data somewhere. We can print more money, or we can go bankrupt, or we can work like serfs to pay the company store.
Another thing that has occurred to me, proving I'm irredeemably cynical.
Free money?
Massive fraud.
But that probably won't happen this time, because car dealers are so well known for being honest and reliable....right?
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2009
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August
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- A writer in our midst...
- Holy crap!
- Less than zero.
- Reality takes hold.
- Sorry, not impressed.
- Talking to brick walls.
- An avalanche, I tell you.
- The customer is always right.
- This and that.
- Taking stock; A Tale of Three Bears.
- When a "SALE!" isn't a "SALE!"
- My last Sunday.
- Or should it be, Dear Agent?
- Dear Publisher,
- Are people leaving?
- Hey, just ask if you need anything....
- Book profits.
- Update: Downtown openings and closings.
- High finance
- No Customer Roll for You!
- Time to do my IRA.
- Customer Roll, Day Three.
- Better than dirt sandwich.
- Customer roll, day two.
- Update. Downtown openings and closings.
- Customer Roll...
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- Bird herding and other tidbits....
- Make hay while the sun is shining.
- Good news in the 4th Qt. Heh....
- Oh, dear. Sports cards....
- Contrary all the time.
- Contrary cuss.
- My customers THIS week, thank you very much.
- Books and Games
- Credit serfs.
- Who knows what kind of business I could've done...
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About Me
- Duncan McGeary
- I'm Duncan McGeary, owner and/or operator for the last 39 years of Pegasus Books in Downtown Bend, Oregon. These days I'm writing books as well as selling them. I'm the comic book guy. But even more so, I'm a book book guy. Books of all kinds. Big books and little books, children's and adult, fiction and non-fiction, hardback and paperback and trade paperback and graphic novels. Books with more words than pictures and books with more pictures than words. They are all part of the book world to me, and I love being surrounded by them every day.
4 comments:
"We are creating a nation of credit serfs."
Eh, this is news?
Incredible as it may seem, Dunc, people have been borrowing money to buy cars for a long, long, LONG time. (I think Henry Ford started it.)
No to mention houses, appliances, college educations.
If we want to go back to a credit-free economy we'll need to go back to the Middle Ages. Probably earlier.
We are creating a nation (of even more!) credit serfs.
You know, when you are in a hole, quit digging!
Don't give them a new shovel.
Before, people borrowed money to buy cars.
Now, taxpayers give people discounts on cars.
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