Our Inflated Thanksgiving
INTERACTIVE GRAPH: What does the Federal Reserve have to do with your Thanksgiving dinner?
NOVEMBER 26, 2014 by CHUCK GRIMMETT
For the past 29 years, the American Farm Bureau Federation has conducted an informal survey of the price of a classic Thanksgiving dinner for 10 people. At first glance, it looks like the price of food has been steadily rising. But when you adjust the numbers for inflation, you get a different story. It isn’t the cost of our food that has been rising, but the amount of US currency in circulation.
This year, we’re thankful for technologies like bitcoin breaking the Federal Reserve’s grip on money.
The individual prices of a traditional Thanksgiving dinner this year: