Back when Congress passed one of the most idiotic laws in the history of the country, cash-for-clunkers, I pointed out that one of it’s likely effects would be to drive up the price of used cars. Now that has happened. In a recent article in the Wall Street Journal, it is reported at length that used car prices have gone up dramatically. “Prices for used cars hit a record high in April and are poised to go even higher ----.”
I scored a bulls-eye on that one.