Last Friday night, I went out with a friend to hear music but I was starving and the venue didn't have food. So I checked the website for the restaurant next door and saw fish & chips for $19. I walked over and placed an order to go. When it arrived, so did a bill for $24 plus tax. Whoa! The server said he'd check and then came back with a menu, where, sure enough, it was $24. But, I said, it's listed on your website as $19 and that's what I used to make my order. Okay, I got them to fix the charge, but - are you kidding me??? They raised the price of mediocre fish and soggy fries by five dollars?? Who in their right mind would pay $24 for that? Heck, I couldn't believe I was paying $19!!
And I say all this as someone who does believe in supporting small business. But a $5 hike in a menu item is ridiculous. As for chain companies - forget it, I won't support them. They are the ones causing the inflation, more than rising production costs (in my opinion). When everyone jumps on the inflation bandwagon just so they can make a larger profit, we all lose. Not just individually, but as a country. :/
Thanks for your interesting comment, Jan! I also care about and support small businesses when I can. Funny that I had a similar "fish and chip" experience. I got a "door dash" offer for $20 off your first order + free delivery. I believe my fish and chips (which was actually quite good) was also $19.00. Not only can't I, but I would never choose to pay that price. I can't help but ask "why"?
Indeed, Why? Even if it was good, this is not a superior fish we’re talking about. And the portion of fish is always small - the chips make up most of the dinner!
Thanks for your comment, Joe. There's a lot of info out there on inflation, so I'm glad I was able to synthesize it a bit! To me, the key to solving new problems is to break out of a pattern of trying to find solutions with tired old ideas, when we are in a different time period with different facts.
I love this point Joan! "One thing I despise is to be told by “experts” that there is nothing new and different that can be done to solve a problem, and that seems to be exactly what is happening with this latest round of inflation."
I don't know ANYTHING about economics or inflation. After listening to an NPR episode on it Friday - the bigger concern/FEAR was what's coming AFTER or SOON. A Recession!
I do know that the Ports have had significant challenges of moving cargo/goods from them because of a huge shortage in shipping captains. Likewise, truck drivers are working around the clock to keep crap coming. I remember at one point when gas prices were around $2.00 during the pandemic and there was talk of cows being slaughtered and other livestock and produce rotting in fields because there weren't enough workers to process due to meat plants shutting down.
I guess my point is: how much of inflation is the beginning trickle effect of the cause / cost of shutting down businesses / schools due to vaccines, masks, layoffs, etc.? I don't know.
You make great points about Starbucks and Tesla and Amazon - does Bezos, Musk, and whoever runs the BEST coffee shop ever need another yacht? I say yes, they do. Let them make their billions. Why? Because when they build that extra 300-foot yacht - that employs 1,000's of workers and artisans for years and years at REALLY high skilled wages. The only problem is - they need to spend MORE of that money on OTHER hobbies that employ 1,000's more...but they likely do not. I don't know.
I would like to see a bullet point on HOW production costs go up. Like the chain of events. That justifies the buck getting passed on to consumers. I've yet to hear that on NPR or anywhere. I might have missed that in your video.
As usual - keep writing! You have a lot of great knowledge and help people like me learn something about obscure and tricky topics like inflation! Thank you!
Thanks for your comment, Zin. As I mentioned in the post, I am far from an economist, so it is fascinating for me to read and listen to different perspectives on economic issues. I am a capitalist, just a restrained one! Yes, billionaires can do anything they want with their money, as long as they pay their fair share of taxes, which they do not, and do not gouge the public, especially during a national crisis like a pandemic. which they do. That's the problem.
Last Friday night, I went out with a friend to hear music but I was starving and the venue didn't have food. So I checked the website for the restaurant next door and saw fish & chips for $19. I walked over and placed an order to go. When it arrived, so did a bill for $24 plus tax. Whoa! The server said he'd check and then came back with a menu, where, sure enough, it was $24. But, I said, it's listed on your website as $19 and that's what I used to make my order. Okay, I got them to fix the charge, but - are you kidding me??? They raised the price of mediocre fish and soggy fries by five dollars?? Who in their right mind would pay $24 for that? Heck, I couldn't believe I was paying $19!!
And I say all this as someone who does believe in supporting small business. But a $5 hike in a menu item is ridiculous. As for chain companies - forget it, I won't support them. They are the ones causing the inflation, more than rising production costs (in my opinion). When everyone jumps on the inflation bandwagon just so they can make a larger profit, we all lose. Not just individually, but as a country. :/
Thanks for your interesting comment, Jan! I also care about and support small businesses when I can. Funny that I had a similar "fish and chip" experience. I got a "door dash" offer for $20 off your first order + free delivery. I believe my fish and chips (which was actually quite good) was also $19.00. Not only can't I, but I would never choose to pay that price. I can't help but ask "why"?
Indeed, Why? Even if it was good, this is not a superior fish we’re talking about. And the portion of fish is always small - the chips make up most of the dinner!
This was a great synopsis of inflation. Thanks for helping me understand it!
Thanks for your comment, Joe. There's a lot of info out there on inflation, so I'm glad I was able to synthesize it a bit! To me, the key to solving new problems is to break out of a pattern of trying to find solutions with tired old ideas, when we are in a different time period with different facts.
I love this point Joan! "One thing I despise is to be told by “experts” that there is nothing new and different that can be done to solve a problem, and that seems to be exactly what is happening with this latest round of inflation."
I don't know ANYTHING about economics or inflation. After listening to an NPR episode on it Friday - the bigger concern/FEAR was what's coming AFTER or SOON. A Recession!
I do know that the Ports have had significant challenges of moving cargo/goods from them because of a huge shortage in shipping captains. Likewise, truck drivers are working around the clock to keep crap coming. I remember at one point when gas prices were around $2.00 during the pandemic and there was talk of cows being slaughtered and other livestock and produce rotting in fields because there weren't enough workers to process due to meat plants shutting down.
I guess my point is: how much of inflation is the beginning trickle effect of the cause / cost of shutting down businesses / schools due to vaccines, masks, layoffs, etc.? I don't know.
You make great points about Starbucks and Tesla and Amazon - does Bezos, Musk, and whoever runs the BEST coffee shop ever need another yacht? I say yes, they do. Let them make their billions. Why? Because when they build that extra 300-foot yacht - that employs 1,000's of workers and artisans for years and years at REALLY high skilled wages. The only problem is - they need to spend MORE of that money on OTHER hobbies that employ 1,000's more...but they likely do not. I don't know.
I would like to see a bullet point on HOW production costs go up. Like the chain of events. That justifies the buck getting passed on to consumers. I've yet to hear that on NPR or anywhere. I might have missed that in your video.
As usual - keep writing! You have a lot of great knowledge and help people like me learn something about obscure and tricky topics like inflation! Thank you!
Much love and peace, Zin
Thanks for your comment, Zin. As I mentioned in the post, I am far from an economist, so it is fascinating for me to read and listen to different perspectives on economic issues. I am a capitalist, just a restrained one! Yes, billionaires can do anything they want with their money, as long as they pay their fair share of taxes, which they do not, and do not gouge the public, especially during a national crisis like a pandemic. which they do. That's the problem.