Enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects. For now, most of those effects are invisible and could indeed remain latent for a long time. Still, their threat may be as ominous as that posed by the financial crisis itself.
Financial smart guy Warren Buffett • Describing why we should be concerned about the high amount of debt currently floating around our economy. He says that we’re in “uncharted territory” and that the effects of the debt could nearly be as bad as the financial crisis itself. Before you discount it, remember that Buffett knows what he’s talking about. • source
Are we excited about it? Absolutely! We think it is a great opportunity for people to get rid of their clunkers.
Cliff Johnson • President of Texas Motors Ford, on the cash-for-clunkers program the Obama administration implemented this year. The plan, which gives consumers up to $4,500 in credit to swap aging vehicles for newer, more fuel-efficient vehicles, has fans all over the map: Consumers, environmentalists, automakers and guys that sell cars for a living. Only the latter category talks like Cliff Johnson, though. • source