MIT "TEPCOes" Its Billion Prices Project
If there was one thing TEPCO was consistent in during the entire Fukushima crisis (and will be for a long time), was its ability to simply "disappear" data that was not palatable for general consumption. Well, it only took MIT 6 months to "TEPCO" its Billion Price Project. Launched early in 2011, the MIT BBP was the only place where one could get an objective look at how inflation was trending in the US and across other countries in the world (and as one can imagine, it was "trending" laughably higher than the CPI). Well, as of this morning it appears that each individual country's data has been "disappeared", and conveniently replaced with the "blended average" also known as the "World Inflation Index." For all those who previously had at least one recourse to see just what liberties the BLS was taking with its imaginary CPI data, well, that recourse is now gone.
The world inflation index will replace the country-level indexes we have
been computing for the past 6 months. Although we understand that the
country-specific inflation indicators have become quite successful in
the financial sector, we are overwhelmed by the amount of time and
resources involved in updating them within the context of this academic
initiative. We must focus on our research, but we will soon be
partnering with another institution that can take over the job of
updating these series on a regular basis. If you want to be notified of
any news, please sign up to our email list (see the sidebar).
If MIT, the world's premier computing data center, is in need of spare CPU cycles due to its "overwhelmment",
we are confident Zero Hedge's 2 million monthly readers will be more
than happy to donate some of their spare cycles... as well as time to
assist in the compilation of this quite important data set.
We just wonder: was the true opportunity cost for MIT (because we are not really children here) one expressed in terms of lost funding... or lost freedoms.
This is what the latest US inflation data looked like before it ended up being pulled.
h/t Sean Corrigan