Used car prices are up, an unusual occurrence that has been a boon to dealers but a drag on consumers — particularly lower income earners.
Blame a shortage of late-model examples on the aftermath of the Great Recession, the Japanese earthquake’s effect on the supply chain, manufacturers cutting back on fleet sales, higher gas prices … and Nancy Pelosi.
“The ‘cash for clunkers’ program of two years ago sent 677,000 older vehicles to the junkyards, as their owners cashed in on a federal subsidy for buying more fuel-efficient cars,” reminds the St. Louis Post –Dispatch.
That’s because they were evil. Pelosi & Co. declared them enemies of the planet that had to be destroyed on the altar of global warming.
So obsessive were Democrats that NHTSA actually advised car dealers to replace clunkers’ motor oil with a sodium silicate solution — then run it through the engine to ruin it so that scrap dealers couldn’t resell parts. This further penalized the used parts industry during an economic recession.
Your tax dollars at work.