Nancy on Fox Business Network talking about why the markets have rebounded so dramatically, a thousand points in less than a year, and is approaching Dow 11,000. She says that the market knows it was facing an economy in free fall and the stimulus worked. As much as everyone worries about increased debt, they worried more about a demand side depression. Obama was right.
Archive for ‘The Economy’
Cash For Clunkers: (Not cars, I mean banks)
Two developments happened over the last two days.
The House of Representatives passed the oddly named, but very smart “Cash for Clunkers” bill, which will give cash vouchers to people who turn in their low mileage vehicles for higher mileage ones. According to the “Detroit Free Press,” the vouchers would be worth $3,500 if the mileage improvement is at least four miles per gallon for a car or two miles per gallon for a small truck, and $4,500 if the difference is 10 miles per gallon for a car or five miles per gallon for a small truck.
In both cases, the old vehicle must get less than 18 miles per gallon, and new cars must hit at least 22 miles per gallon for a car and at least 18 miles per gallon for a small truck.
