John Tamny's new book, Who Needs the Fed? What Taylor Swift, Uber, and Robots Tell Us About Money, Credit, and Why We Should Abolish America's Central Bank, is the topic of my column this week. Please check the column out at the New York Sun (here), Reason (here), and Newsmax (here).
After the column was published, the New York Times provided yet another example of the phenomenon I wrote about. It was a food section article about the chef and restaurant operator David Bouley:
He expresses a weariness with the pressures of business, especially as "the cost of every freaking thing," as he put it, goes up — from insurance to linens.
"I mean, it's ridiculous how expensive everything is," he said. "I feel like I'm on a treadmill. The costs are so high. At the end of the day, I can only charge so much."
Another way of saying the costs of things are going up is to say that the value of the dollars being used to buy them is going down.