Open Source Economic Statistics
The government has every incentive to misstate and exaggerate economic statistics, if not lie outright. The CPI excludes food and energy.
One of the websites coming to prominence in this volatile era is John Williams' Shadowstats. While some tasty appetizers of data are available freely on the front page, you have to pay money to eat the entrees.
Has anyone ever tried to create an open-source website for economic statistics? I'm picturing a page where anyone can log their observations. For example, enter Date of 6/2/10 and Loaf of Bread for $2. Or Date of 12/4/10 and Gallon of Gas for $3.03. Some algorithm would process the data points into a coherent result.
Would something like this even work? Would it be useful?