from Zero Hedge
The Fed may be worried about deflation – and specifically wage deflation, which is now failing to keep up with rent, tuition, housing and healthcare – but when it comes to the the favorite stomping grounds of Wall Street’s partygoers, it has nothing to worry about: inflation here is alive and well. Case in point, this weekend’s launch of the official summer season in Southampton, where as Page 6 reports, among the usual sights were record prices and a long wait for tables at a new Hamptons hot spot which set off a near-brawl over the weekend.
The drinks menu at the new Jue Lan Club in Southampton includes a 6-liter Methuselah of Dom Perignon Rose for an astonishing $27,000, and a 3-liter Jeroboam of Perrier-Jouët Belle Epoque Rosé for $12,000 (usually retails at around $1,600).