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I''m not sure if this applies to my story but I was just talking to my FI tonight about a co-workers camping trip this past weekend... apparently he brought 25 lobsters to grill and there were less than 25 people there. I was like wow, how was he able to buy so many aren''t they pricey? My FI said something about him buying them in bulk? I don''t know... I thought it was weird though and then I see your post about cheap lobster!
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Makes sense to me...the first things people cut out in an economic crisis are "fancy" foods. Demand falls and so the price falls to try and compensate for the lost sales. If they can't sell a lobster at $10/lb they either have to literally eat their losses or sell it for less...
Just basic economics at work here. |
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Bravo neatfreak! I hated drawing out those curves for Economics class!
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Hmm, great observation. I guess it''s related, but over the last few years I''ve been noticing our regular filet mignon creeping up from $22.99 a pound to $26.99 to most recently $30.99; you can imagine my surprise last week when I went to a run-of-the-mill grocery store and saw it on sale for **$5.99/POUND**! (Having seen so many complaints and news stories about rising gas and food prices, I figured that the newly budget-conscious had stopped picking it up altogether.) f-d-l |
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Hehe, that''s what I get for being in a Public Policy Ph.D. program, LOTS of economics. Certainly a nice time to have a bit of extra cash though, since food staples are so expensive the "fancy" stuff is a steal! |
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Here is a great article in Newsweek about this very topic: http://www.newsweek.com/id/154042
ETA: I realized it was the same article that Rockzilla originally posted, just on another site. Whoops- SORRY!
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