PriceStats - The Beginning Of The End For BLS Data Manipulation?
Had enough of neverending BLS inflation data manipulation? You may be in luck. Hot on the heels of the MIT Billion Prices Project (which we were delighted to see recently came back on line), there now is... PriceStats, potentially the most revolutionary concept to come to the fielf of econometrics, and thus fiscal and monetary policy in ages.
From the launch press release:
The BPP is proud to announce the launch of PriceStats, a start-up based in Cambridge MA with the mission of becoming a leading source of daily inflation statistics around the world.
PriceStats will allow the BPP to focus on research and continue
innovating in the field of real-time price statistics. Our research team
will have access to a greater amount of data than ever before, which
will be collected, processed, and shared by PriceStats for use in our
research initiatives and experimental indices. In addition, this
arrangement will allow the BPP to continue publishing the daily US
inflation and World inflation indices on a monthly basis.
PriceStats has partnered with State Street Global Markets
to update daily inflation series in more than 40 countries through
their client research portal, IR3. If you would like more information on
how to access these series, please contact the PriceStats team at
PriceStats is a young company and the team is growing fast. If you
are interested in technology and economics, and would like to join the
team, please email email@example.com
We hope at least a year passes before the Federal Reserve decides to LBO PriceStats. Alternatively, the involvement of State Street while admirable, gives one pause to wonder if there will not be a sudden short stock recall causing a massive inflationary surge once the custodian company flexes its short squeeze muscles, so eloquently demonstrated back in March 2009 when the glimmers of the "profit and earnings ratio" rally was in desperate nee of a Citi group short squeeze.