Alternate Route

Aug 18, 2009 - Reality Check

AR Index     618.93  -20.66  (-3.23%)

Stocks of individual interest
Toyota  83.71  -1.07
GM        0.87    -0.09
Ford      7.37    -0.35

Dow 9135.34  -202.61   (-2.17%)

In case you hadn't noticed, we're in the midst of a complete disconnect between reality and prices at the pump.

It doesn't matter what actually happens with supply and demand, it makes no difference what direction the price of crude oil is taking, the price at the pump seems to be soley determined by the speculation of the commodities market.

I'm getting tired of it, are you?

Speaking of reality, that money is sure flowing in the cash for clunkers program isn't it?

The federal government has only reimbursed auto dealers for 2 percent of the claims they've submitted through the popular "cash for clunkers" program, a Pennsylvania congressman said, calling on the Obama administration to help speed up the process. 

Rep. Joe Sestak, D-Pa., called for "immediate action" to address the problem in a statement Sunday, after writing a letter to President Obama Saturday expressing his concerns. 

In the letter, Sestak said only 2 percent of claims have been paid and that four of every five applications have been "rejected for minor oversight."

Government "efficiency" in action.

2:47 am | Categories: ar index Permalink | Alert Administrator

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