snippet:

Roger Wiegand of Trader Tracks Newsletter finally says what I always figured: “Cash for Clunkers was a real clunker. One out of four auto buyers using this program is having buyer’s remorse as they just signed-up for so many new payments they cannot afford.”

Full article:

http://dailyreckoning.com/evicted-from-your-brand-new-clunker/

The used car lots are about to swell again, this time with a high percentage of the 690,000 vehicles sold under the Cash For Clunkheads program that have already cost the US taxpayer an additional $3 billion. If 1 in 4 can’t afford their new payments, which represents 25% of the buyers, this equals 172,500 cars that will now have to be reposessed, auctioned off to wholesalers and will end up on used car lots or as rentals cars.

“It isn’t clear how the rising losses may affect home buyers. Options for the agency could include politically unpalatable choices, such as asking for taxpayer funds to boost reserves or increasing the premiums borrowers pay for the insurance offered by the agency. Agency officials say if there is a shortfall, they don’t have to do anything except report it to lawmakers. But some mortgage and housing analysts see trouble ahead. “They’re probably going to need a bailout at some point because they’re making loans in a riskier environment,” says Edward Pinto, a mortgage-industry consultant and former chief credit officer at Fannie Mae. “…I’ve never seen an entity successfully outrun a situation like this.”

http://online.wsj.com/article/SB125202440174685297.html

The NAACP has issued a statement in support of Van Jones.

No surprise there.
I heard earlier today on FoxNews a clip of Van Jones saying only white kids would commit a Columbine. The lecture had something to do with defining evil.
Jones obviously felt qualified to determine which race has the more evil offspring. I wonder if the NAACP will come out in support of that racist comment.

“The problem with socialism is that eventually you run out of other people’s money [to spend].” - Margaret Thatcher

“It is sad and unfortunate that our nation’s precious airwaves and cable television time are being occupied with the unscrupulous, diversionary tactics launched by right wing extremists such as Glenn Beck. These desperate tactics divert America’s attention and intellectual resources away from issues affecting our families and communities. These life-and-death concerns are being overshadowed by employing ruthless attacks against Van Jones, White House Special Advisor for Green Jobs and dedicated advocate for safe, clean and healthy communities.

Van Jones has established himself through his many years in public service as a hardworking advocate for positive, progressive change. He is a devoted husband and father. Mr. Beck and the other news services’ portrayal of Mr. Jones to the contrary is not only distracting and disingenuous but harmful and destructive.”

I don’t remember a NAACP statement issued in support of conservative, black, Kenneth Gladney after he was injured at a health care town hall meeting. The NAACP did issue a national statement condemning the opponents of health care reform for “deplorable antics” and “racially offensive tactics”. But so far it seems the people to be on the receiving end of injuries are opponents, not supporters so that kinda blows their theory out of the water that it’s opponents causing all the trouble. I also loved how the St. Louis NAACP when asked why they didn’t publicly issue a statement in support of Mr. Gladney replied “he didn’t ask us too”. I bet if Mr. Gladney was a liberal, a statement of support would’ve been issued whether Mr. Gladney asked or not.

Tired of having to take screen shots of the ever increasing, suddenly disappearing, incriminating Obama websites? How would you like a tool that allows you to capture a whole web page that you can then incorporate into your blogs so that everyone can read the whole story?

An End to the Disappearing Obama Act

I don’t know about the rest of you, but this so-called stimulus thingie just ain’t working out too well for me.

StimuLESS: The Sequel

“Who’s the real terrorists? Uncle Sam.” That according to a record put out by Freedom Fighter Music, a label created by the Ella Baker Center for Human Rights, which Van Jones founded.

Van Jones appears for his cameo (at the 3:50 mark). Jones rants against the “Israeli occupation,” calls for the right of return of the Palestinian people and then puts himself squarely on the side of America’s enemies:

http://www.weeklystandard.com/weblogs/TWSFP/2009/09/van_jones_joins_the_global_struggle_against_america.asp

The real problem here is that these obamabozos (and the bushbozos) are only concerned with how THEY will appear–style over substance. None of them have done any homework at all, which should include, by necessity, a fundamental analysis of what their pandering programs will do to the economy in the long run. No, they throw one program out after another, seeing which one piques the public’s curiosity and which creates a thud-like sound. Someone who really wants to solve a problem looks at the process in its entirety, finding areas where improvement can be made, where no improvements are necessary, and where redundancies and dead-ends can be eliminated. It isn’t glamorous work but it is necessary otherwise the stick gets re-invented constantly and the wheel loses its requisite roundness. Frankly, I’m no longer surprised with the shenanigans–the people running this country are bereft of any competence. All they can do is string a collection of words together, which sound pretty but hide the rot contained therein.

These idiots can’t even run a simple cash for clunkers program. Fire all of them. Complete morons.

Has Obama even gone back to work yet, or is he vacationing from his vacation?