I don't know if Janet Yellen and the ongoing debasement of the thing called the US dollar can be blamed for $27.00 hot dogs. There are some people that want fancy dogs in special situations and they are willing to pay money for that product.
Is Yellen to blame for a Ferrari 488 GTB being priced at $300,000? I say no. Some items are expensive to purchase for various reasons that have no relation to the value of a US dollar.
While it's true that different goods can be priced more highly than other goods based on relative scarcity of supply and quantity of demand, it's also true that any particular good will be priced in dollars more highly today than it would otherwise be priced if the money supply were fixed instead of being artificially expanded by the central bank and the central bank-supported banking system.
I don't know if Janet Yellen and the ongoing debasement of the thing called the US dollar can be blamed for $27.00 hot dogs. There are some people that want fancy dogs in special situations and they are willing to pay money for that product.
ReplyDeleteIs Yellen to blame for a Ferrari 488 GTB being priced at $300,000? I say no. Some items are expensive to purchase for various reasons that have no relation to the value of a US dollar.
While it's true that different goods can be priced more highly than other goods based on relative scarcity of supply and quantity of demand, it's also true that any particular good will be priced in dollars more highly today than it would otherwise be priced if the money supply were fixed instead of being artificially expanded by the central bank and the central bank-supported banking system.
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