What Price, Green?

Well, well, well...now that GMAC has been injected with $6,000,000,000 newly printed dollars, they said yesterday they've immediately implemented lending to people with lower credit scores (from 700 now down to 621) as well as offering financing at 0% for 5 years.

So, borrow from a debt ridden public to assist other indebted borrowers (with a dubious record of paying back what they owe) borrow more. That's the ticket -- pay off your gambling debts by gambling more.

But I have a question...if they are now charging 0% interest, where is the source of income used to pay back this $6,000,000,000? Perhaps the prices of GM vehicles are sufficiently inflated to offset zero percent interest. Or perhaps those with a 622 credit score will pay 18% interest. Either way, this is a shitload of money to pay back, and I'd really be surprised if we don't end up taking it in the shorts sometime down the road.

I saw the red tag special this last week for a '09 Cadillac Escalade, $57,180. They hybrid model is $67,779. No, GM's prices aren't inflated. The hybrid premium is about ten grand while the cost of a gallon of gas is about a buck and a half. If you drive the hybrid 15k miles a year and get 17 mpg instead of 14 mpg, it'll take 35 years to pay back that premium, not including what you're gonna shell out every 7 years for a new bank of batteries. But...you'll feel GREEN, won't you. What price, Green?

I'm green thinking of the lost dollars we just were forced to spend.