You know I think Adam Smith is bullshit, but this time, I think he pegged it.
The restaurant in question is The Wall Street Burger Shoppe at 30 Water Street in NYC. In 2008, just as the recession was finally being acknowledged to exist by the Establishment, the 52 seat eatery introduced the Richard Nouveau burger. It consists of a 10 ounce Kobe beef patty, aged gruyere, shaved black truffles, foie gras and golden truffle mayonnaise. Check it out:
Amazing as it may seem, people didn't feel like paying $175 for this. They have filed for protection, owing $500K to their landlord and the state.
Now, if you'll excuse me, there's a Double Quarter Pounder With Cheese calling my name.