Wednesday, November 18, 2009

Told you so

Cash for Clunkers results in higher used car prices:

Who could have predicted that artificially limiting supply would lead to higher prices? Well, anyone who's ever scalped tickets or Tickle-Me-Elmos, for starters.

Keep in mind the price increases were masked by a major recession and greatly reduced consumer lending. The increases would be even higher if people could get either jobs or credit.

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