Filed under: Economic data

John Crudele over at The New York Post writes about yet another hidden consequence of the Cash For Clunkers program: “… the folks at the US Bureau of Labor Statistics confirmed to me that the subsidy received by those 800,000 car buyers will be handled in the CPI next week as if the price of a car fell by $4,500.”

Let’s be very clear: This is one of the dumbest things in the history of the United States.

How the hell can you possibly count a taxpayer-funded subsidy as free money and use it to show that the cost of cars fell?

Continue reading How Cash for Clunkers will screw up the CPI

How Cash for Clunkers will screw up the CPI originally appeared on BloggingStocks on Fri, 11 Sep 2009 12:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Via [bloggingstocks]

Share This

This entry was posted on Friday, September 11th, 2009 at 9:55 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.