Inflation? Try bubble. It fits better.

From an ad just received:

"Whether you're an NYC newbie or you've been hopping off the 7 train your whole life, you've probably suspected there's more to Times Square than jumbotrons and a giant ball. Get the real story behind one of the country's best-known destinations with today's deal from Manhattan Walking Tour: $25 for a 75-minute walking tour and continental breakfast -- a $50 value."

Now I live a ten minute walk away and the notion that I can learn a $50 worth of knowledge being told that Herbie's Flea Circus is no more is laughable. But what is not laughable is that we live in a world where economies are such that we must bilk tourists at inflated prices to make a living. I want Thorstein Veblen back. I want invention to be the mother of necessity.


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The bubble economy and the inflationary bottom

The I-word - Boston.com: "That particular nightmare never came to pass, thanks to drastic measures taken by the Federal Reserve. For the better part of the past 30 years, the dollar has stayed stable, reassuring American families and the nation’s trading partners, with the central bank standing guard over the economy and doing everything necessary to keep inflation low."

Its funny. Our costs at the market for dairy and fruit have gone up and things at the dollar store are a dollar no more. Yet I get Amazon offers for a meal that would cost $150 if it was not for their $75 coupon. Inflation appears nonexistent for the privileged whose income and worth is 20x that of the the rest. Poor and lower income whites, Blacks and Hispanics scrape by. Inflation is a constant. We have a bubble economy for the better off with prices pre-inflated so there is wiggle room. Where prices are real - at the bottom -  inflation is happening right now.

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