Baseball teams are on a runaway spending spree again.
Just within the last week there have been a significant number of gargantuan free agent contracts of over $10 million per year signed by the likes of Adrain Gonzalez, Derek Jeter, Carl Crawford, Jason Werth, Jorge De La Rosa, Paul Konerko, Hiroki Kuroda, Aubrey Huff, Mariano Rivera, Victor Martinez, Carlos Pena and soon to be Cliff Lee.
MLB certainly is an economy within itself. Perhaps the thinking is that in a recession people will tend to stay closer to home and support local teams instead of going on vacation and spending their discretionary income elsewhere.
Every year I scratch my head at these contracts and this year is no different.