CNN Reports Car Price Spike Coming Due to 'Success' of Clunkers

[HT:SE].

CNN "Newsroom" admitted Aug. 27 that new car prices are "expected" to go up as a result of the government Cash for Clunkers giveaway.

Heidi Collins told viewers,

"The success of the Cash for Clunkers program may be pushing new car prices higher. Dealerships are expected to have lower inventory over the next few months, meaning higher prices for consumers. Around 700,000 people took advantage of the Cash for Clunkers program."

Collins' use of the word "success" to describe the program was consistent with the media's advocacy of the program. All three broadcast networks called it a "victim of its own success," after the initial $1 billion in funding ran out after just a week - instead of the 14 weeks projected.

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Clunky Economics

The unseen, however, is the investment that doesn't occur so that windows can be fixed...

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