The analysis I posted makes specific reference to the difficulties in using restaurants as the proxy for the overall economic effects of ….. well, anything.

In the case of Seattle, the number of restaurants (which apparently is up) is driven by demand, in this case the city’s growing glut of youngish Amazon wealthy employees, while restaurant prices (which apparently are flat) are held down by by increasing competition from that growing number of restaurants.

Add to that that wait staff is tippable, and you come to the inexorable conclusion that restaurants exist in a bubble which may or may not be reflective of economic conditions in the larger economy.

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.