Posted on 08/24/2009 7:35:21 AM PDT by wk4bush2004
A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it's probably not enough to lift companies such as Whirlpool (NYSE:WHR - News) and Electrolux out of the worst down cycle in the sector's history.
Beginning late this fall, the program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. The money is part of the broader economic stimulus bill passed earlier this year. Program details will vary by state, and the Energy Dept. has set a deadline of Oct. 15 for states to file formal applications. The Energy Dept. expects the bulk of the $300 million to be awarded by the end of November. (Unlike the clunkers auto program, consumers won't have to trade in their old appliances.)
(Excerpt) Read more at news.yahoo.com ...
Official message from the US Congress. Quit buying large items... wait until the government comes out with a subsidy program first........ Morons.
Much like the car program, this is another subsidy from Joe Taxpayer A to Joe Taxpayer B with the Govt vigorish taken out.
Most of the folks buying this stuff are upper middle class or higher.
It will be interesting to see the auto sales after C4C is suspended.
I’m betting they will be bleak, and require another transfusion of taxpayer dollars.
Like rebates from the car companies, it’s hard to stop once you start.
I need a washer and dryer. This is the first I would get one of the give-aways. So far I have not been able to get a dime.
Last year, when Katie Couric of CBS asked Obama and John McCain to name their favorite flicks, McCain went with "Viva Zapata," where Brando (a bipartisan favorite), dies for his country. Obama went with "The Godfather," saying, "I love that movie."
From here
This happened to me many years back: a friend of mine and I would sit in the coffee shop exploring the most bizarre and unfeasible rules/laws which the State/Feds could impose on us... and low and behold they did.
Problem is that when I bought my fridge 23 years ago they were built to last. Now, they are good for 5 -6 years. You know, planned obsolescence.
My wife asked about our refrigerator yesterday. I said, hey according to someone on Free Republic, that program will be coming soon so let’s wait.
Now, will it be a GE? No way in hell.
If the appliance dealers haven’t learned that they are going to get stiffed by the feds in this deal then they weren’t watching the Cash for clunkers program very closely. I think the feds bought into their own hype about how successful the clunker disaster was.
23 years is about the same age as my fridge...and you’re right, they were built to last then. I’ve only needed a repairman once.
Hope it’s retroactive - we replaced our washer and dryer in August with a more energy efficient set. And, no, it wouldn’t be supporting American jobs. Most of the manufacturing is out of the country.
Cavuto is predicting that soon after the stimulus is cut for each program, the consuming will end too. Or are we all trained by our Keynesian masters like the dog and the wistel?
Keynesian Paul Krugman’s theory says the UAW will now get rehired and start buying creating more jobs, and on and on all because of a few $B of clunker money. What if we all buy foriegn?
Well he may be a tad correct in view of fact most dealers will restock now with a new model year...however, whether they will sell them is another matter and with unemployment rising and hours worked by those with jobs falling, I don’t know where the money will come from to fuel more purchases...unless we have a new FANNIE MAE for consumer goods coming soon.
I’m holding out for “Cash for Sofas”.
They can recycle the old refrigerator to bury grandma.
: o /
That's really going to get the economy going again!
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