The price of Jah did not lose its 50% of its value every single day, or every single weekend, it suddenly crashed. If you think that is basically economy, good luck.
Increased supply, decreased demand, and arbitrage/hoarders/(or botters) getting caught holding bags. Looked like a classic bubble to me, once it hit its breaking point and big players started selling it was a race to the bottom. There were signs a week ago that this was coming.
Otoh you'll see a few things are holding relatively stable value because the full demand hasn't been met. Statues are kinda hard to farm and consumable, their price hasn't moved. Warlock torches have gone down a little in value but are holding up very well relative to HRs