At auction, Sotheby's just sold by far the most expensive diamond ever. The rare pink diamond sold for $46,158,674 at a Swiss auction, according to the AP.
London jeweler Laurence Graff bought the 24.78-carat "fancy intense pink" diamond and immediately named it "The Graff Pink."
Graff bought the last record-setting stone back in 2008 for $24.3 million -- approximately half as much.
Gus Lubin, who wrote the story up for Business Insider, obviously doesn't have the fine nose for deflation that Krugman does. Lubin concluded his story:
You don't have to be an economist to see there's some inflation going on here.Ahh, but Gus, if you were a Nobel Prize winning economist writing for the NYT, you would easily realize this is a sign of deflation.
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