...except with used cars instead of houses.
I just bought a used car for $8,600. The book value of the car is about $7,500. Why did I pay so much more? Just go to any used car lot and you'll see why. ALL used cars cost more than they're worth these days. Why? Well, one big reason is the "Cash for Clunkers" program.
With the Cash for Clunkers program, the government trashed a bunch of used cars. Now, you combine the results of that wonderful government program with the effect of all of the natural disasters as of late... and the fact that the economy has gotten so bad and so more people are buying used cars rather than new... and you have a recipe for HIGH PRICES.
Just what we need.
This is the kind of genius stuff they come up with up there in D.C. Now, you might say, "Well how could the government know that natural disasters were coming and that thousands of used cars would be destroyed? They were just trying to help." Exactly... the government CAN'T know what is going to happen in the future, so they shouldn't try to "help".
I've had about all the "government helping me" I can stand. I was a mortgage broker a few years ago and I was making good money. Now I'm a pizza delivery driver making next to nothing. In between I had a job as a manager of a pool hall. I love to play pool so I loved the job. I lost that job because the government outlawed smoking in public places and the pool hall had to close down because they had no business. Now I'm paying too much for a used car because of the government.
Do you see why I'm voting for Ron Paul?