Okay, before the emails hit – it’s peak load pricing or a relative price increase.
Buyer pays $133K for two courtside tickets to Game 5 of NBA Finals
A person paid $133,000, including fees, for two floor seats to Game 5 of the NBA Finals at Oracle Arena to possibly see the Golden State Warriors win their second title in three years.
A team source said that a Warriors season-ticket holder sold the seats on the team’s Ticketmaster resale site on Sunday night. With buyer fees at 15 percent, the buyer paid more than $17,000 in fees alone for the pair of tickets.
While the face value of the specific tickets is unknown, some courtside seats for the Finals have a face value of $3,000 each, according to a document sent by the Warriors to fans during renewal time last year.
The average resale price on the team site for Game 5 is $1,731, which is almost 20 percent higher than last year’s Game 5 between the Warriors and the Cleveland Cavaliers ($1,444).
The site had two other big sales for the most prime seats in the arena — one pair was sold for $90,000, while another was sold for $82,000. — USA Today
The above sure sounds like the mark of the top of something, no? The Roaring ………… something.
Inflation in the Real World
Nevertheless, just, today, noticed the local grocery market increased the price of a two-liter bottle of soda by 10-20 percent in the past few weeks.
Who is the government kidding? You and I know, first hand, the real inflation rate is running much higher than the official figures.
Where you drink champagne and it tastes just like cherry (COLA)
With all the baby boomers retiring the government and taxpayer, not to mention those on fixed incomes, are in deep doo-doo if the “so-called” official inflation picks up and the cost of living adjustments (COLA) on social security payments begin to spike.
The use of the word “hedonic” to describe this technique stems from the word’s Greek origin meaning “of or related to pleasure.” Economists approximate pleasure to the idea of utility – a measure of relative satisfaction from consumption of goods. In price index methodology, hedonic quality adjustment has come to mean the practice of decomposing an item into its constituent characteristics, obtaining estimates of the value of the utility derived from each characteristic, and using those value estimates to adjust prices when the quality of a good changes. – BLS
Bond Market Predicting Deflation?
But, you say, the bond market is predicting deflation? Complete Nonsense. There is no signal from the bond markets.
The intervention into the bond markets by central banks through quantitative easing (QE) in the big four sovereign bond markets – U.S., Japan, Eurozone, and UK – has created a structural shortage of risk-free instruments and distorted the most important price in the world — the yield on 10-year hard currency sovereign bonds. – GMM, March 2017
With elderly conservative savers earning zero on their CDs and the social security COLA averaging only 1 percent over the past five years no wonder the economy feels so punk. Definite deletarious impact on the demand of the senior set.