Observation

"Pilate saith unto him, What is truth? And when he had said this, he went out again..."

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Location: Tampa, FL, United States

Saturday, August 01, 2009

Cash for Clunkers

The government's "cash for clunkers" program is reminiscent of the subprime mortgage disaster. Government meddling in private property matters induces behaviors that would otherwise not surface. With the "cash for clunkers" program the feds have created a mini-bubble in the auto industry much like they did by strong-arming lenders and tempting home buyers into new home contracts of which neither party would have normally engaged.

Never put a starving child in charge of handing out other people's fresh baked, double-chocolate chip cookies. He'll eat too many and likely only give them away to other kids who own Wii's, iphones, ipods and other toys that benefit the cookie manager's access to happy feelings.

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