More cash for fewer clunkers

11/18/2009 Mises Wire Mark Thornton

The CPI rose three tenths of one percent in October and one of the big factors was the rise in used car prices. Used car prices increased 3.4% in October. This is no doubt due to the hundreds of thousands of cars taken off the market and destroyed by the cash for clunkers program. This is good news for those trading in used cars to buy a brand new one, but bad news for those struggling to get basic transportation to get to work.

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