tag:blogger.com,1999:blog-3758330678390419129.post3517203599131704947..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Thank You, Federal Reserve: Wall Street’s Newest Hot Commodity is a $185 Wagyu Steak SandwichRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3758330678390419129.post-82358272149795954232018-06-25T18:07:22.481-04:002018-06-25T18:07:22.481-04:00Yep, and it's even linked to Greenspan's &...Yep, and it's even linked to Greenspan's "wealth effect". You re-fi your McMansion for a couple of mil and suddenly those $185 sandwiches look mighty tasty.<br />Capn Mikehttps://www.blogger.com/profile/08133441332228302495noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-83683760987804012432018-06-25T17:12:01.173-04:002018-06-25T17:12:01.173-04:00maybe not, but near the peak in the credit expansi...maybe not, but near the peak in the credit expansions we see similar types of things such as crazy priced art work, odd products priced at insane levels, odd services that make no sense on normal conditions. This seems to fall into one of those and could arguably not exist without the magic money machine spraying all over. Danhttps://www.blogger.com/profile/17155862465384951651noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-49455608716917119152018-06-25T16:25:37.073-04:002018-06-25T16:25:37.073-04:00Dominick:
I'm not sure that is true. Conside...Dominick:<br /><br />I'm not sure that is true. Considering Cantillon effects, those who get newly created money first receive unearned wealth ahead of others, and thus are in a position to spend this more readily on expensive items or bid up other items. Typically those who get the new money first include those in the financial sector, which is why their favored investments (e.g., art, The NAPsterhttps://www.blogger.com/profile/16631781625841157567noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-25927332765057001082018-06-25T15:19:09.303-04:002018-06-25T15:19:09.303-04:00Robert, I know that you do this a lot, BUT the pri...Robert, I know that you do this a lot, BUT the price of single products has no obvious connection to changes in the money supply. Dominickhttps://www.blogger.com/profile/10113091064299237392noreply@blogger.com