Jun 27, 2009

Lobster, Get Your Cheap Lobster Here...

A little while back Mrs. EconBlog and I were out for dinner and she ordered the lobster. On the menu it had the old "market rate" bit next to the Maine lobster. To me "market rate" usually translates into "big money" so I was expecting a huge bill. Much to my surprise the lobster was very affordable. Great news for the Mrs. and I but bad news for the salty old fisherman who was probably out on the water at 4:30am setting traps.

Turns out there seems to be a few too many salty old fishermen and women out on the water. Supply and demand wins again! If this keeps up lobster will be cheaper than shrimp in a matter of months. Pass the melted butter please.