I sent this to the good folks at Marketplace:<\/p>\n
In David Frum’s essay yesterday about Federal reserve policy, he stated that he remembered, “the little white stickers my family’s favorite steak house used to overwrite last month’s price”.<\/p>\n
I would make two points here.<\/p>\n
First, Mr. Frum is born and bred in Canada, specifically Toronto, Ontario, and it appears that the nearest American soil, Niagara Falls, New York, was about 80 miles away.<\/p>\n
Given the number of steak houses available in Toronto, it is likely that the menu of which he spoke was for a Canadian restaurant, and using a Canadian restaurant to describe US inflation is not the basis for an honest discussion of any policy.<\/p>\n
Second, this was in the days when plain paper copiers were a rare beast, so reprinting a menu was a significant issue, even if it was done only once a year.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
I sent this to the good folks at Marketplace: In David Frum’s essay yesterday about Federal reserve policy, he stated that he remembered, “the little white stickers my family’s favorite steak house used to overwrite last month’s price”. I would make two points here. First, Mr. Frum is born and bred in Canada, specifically Toronto, …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,973,985,982],"tags":[],"class_list":["post-196844","post","type-post","status-publish","format-standard","hentry","category-corruption","category-economy","category-regulation","category-stupid"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196844"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196844"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196844\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}