May 16, 2017
Federal Reserve money spigot is driving up prices in some markets. You can now buy a two-foot-long hot dog for $27 at Texas Ranger Baseball Games. The Obama’s post-presidency book deal rocketed to over $60 million. An Upper East Side townhouse was sold for $79.5 million. A new record for the most expensive townhouse sold in Manhattan. Oprah Winfrey sold a Gustav Kimit painting in 2016 for $150 million, realizing a $62.1 million profit in just ten years. Home prices in San Francisco are almost 7% higher than they were at their high point in 2006. This inflation is courtesy the Federal Reserve. Since the end of 2006, the M2 money supply has increased from $7 trillion to $13.2 trillion at the end of 2016.