Romer also noted that the swing from a 6.4% rate of decline in GDP during the first quarter to the third quarter's 3.5% rise is the biggest six-month turnaround in the economy since 1980.
Using traditional relationships between sales volumes of those (luxury) vehicles and the types of vehicles sold under Cash for Clunkers, Edmunds.com projected what sales would normally have been during the Cash for Clunkers period and in the weeks after.
Using past typical relationships to make projections in a uniquely atypical financial economic environment seems suspect. At least it does to me.
__________________ When some wild-eyed, eight-foot-tall maniac grabs your neck, taps the back of your favorite head up against the barroom wall, and he looks you crooked in the eye and he asks you if ya paid your dues, you just stare that big sucker right back in the eye, and you remember what ol' Jack Burton always says at a time like that: "Have ya paid your dues, Jack?" "Yessir, the check is in the mail."
Last edited by foibles; 10-30-2009 at 11:23 AM..
Reason: clarity
Heh. Yes, obviously it's better to use the numbers and calculation methods of a politician trying to blow his own horn about a pet policy. Much more likely to get to the whole truth that way!
I still like the Saturday Night Live barb about how Cash for Clunkers "did stimulate the economy. Unfortunately it was the Japanese economy".
__________________
Use the Shift key, people! Keyboard manufacturers everywhere are ineffably saddened when you ignore what they made just for you!
"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)
__________________
"In theory, theory and practice are the same, but in practice, theory and practice are different."
"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)
Oh Noes! Has Faux joined the VLWC?
__________________
Does it sound logical that I would talk about the mother of a big white guy with a gun?
"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)
More impressive for Ford is bailout money was not part of it.
More impressive for Ford is bailout money was not part of it.
Agreed that this was impressive, but you need to remember that Ford had had the dubiously good business sense to completely hock thier business BEFORE the marked crash, so they still had cash on hand when the other companies who had not taken out so many loans were without any kind of cash reserves when the banks started to go belly up and cut all available credit...
__________________
"Rub her feet!" - Lazarus Long, Time enough for Love, Robert A. Heinlein
'Allo, my name is not Inegio Montoya... You... you did not kill my father... eh, ...prepare to die anyway!
I didn't mean to imply that, more that they were in a better position to ride out the credit crunch than their competitors were in THIS situation, so their relative success is to be expected. Of course they are still in a pretty poor situation since they have a larger dbt load and can still fail if they cannot service their debt.
__________________
"Rub her feet!" - Lazarus Long, Time enough for Love, Robert A. Heinlein
'Allo, my name is not Inegio Montoya... You... you did not kill my father... eh, ...prepare to die anyway!
"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)
Of course. What do you expect ANY auto maker to say? Duh.
And since Ford agrees with what you want to believe but Edmunds doesnt, you'll pick the one that serves your purpose as being legit even though anyone can clearly see Ford's claim is self serving.
The other manufacturers also said C4C drew sales - the only difference is that Ford declared a profit.
So, yeah ANY manufacturer says that, because it apparently is the case. Who you gonna believe, the people who saw sales figures go up because of C4C (and down after the program ended), or some magazine that says it would have happened anyway.
But, you'll opinion shop to find a source that tells you want you want to hear. I'm not surprised how blinded some people can be. And I'll believe FOX is less biased when the talking heads on their shows admit that a Democratic program worked.
__________________
"In theory, theory and practice are the same, but in practice, theory and practice are different."
Of course. What do you expect ANY auto maker to say? Duh.
And since Ford agrees with what you want to believe but Edmunds doesnt, you'll pick the one that serves your purpose as being legit even though anyone can clearly see Ford's claim is self serving.
I'm surprised at how blinded people can be.
I bet you were hell on your mom/ dad growing up.
__________________ When some wild-eyed, eight-foot-tall maniac grabs your neck, taps the back of your favorite head up against the barroom wall, and he looks you crooked in the eye and he asks you if ya paid your dues, you just stare that big sucker right back in the eye, and you remember what ol' Jack Burton always says at a time like that: "Have ya paid your dues, Jack?" "Yessir, the check is in the mail."
Linear Mode
