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Just paid $13.50 for a personal sized lunch pizza, never again.
Whether I can afford it is irrelevant, I'm simply tired of getting screwed.
Perhaps if our consumer driven non-essential spending declines; so will the prices.
The problem is the stimulus checks for the most part were not spent on new goods and services .they were banked and or went to pay down old debt .
True, but in the real world that's fuel for new spending down the road. Americans with full savings accounts and $0 VISA balances don't stay that way for long. Once consumer confidence and economic optimism returns it's time for new cars, appliances, smartphones, etc....
People attribute way too much credit to the stimulus checks. They were only 2400. That is not enough money to change anyone's life.
Maybe check the middle and upper middle classes' home values and their stocks. In a lot of cases that IS enoigh money to change people's lives.
My net worth more than doubled in a year and I didn't do anything.
My cousin has 4 kids and I don’t know for sure but I think she got $15k+ in stimulus money. And yeah home values might be another reason people are spending so much…a lot of people are refinancing and pulling out equity/lowering their payment.
True, but in the real world that's fuel for new spending down the road. Americans with full savings accounts and $0 VISA balances don't stay that way for long. Once consumer confidence and economic optimism returns it's time for new cars, appliances, smartphones, etc....
perhaps but for now they really did not add much ..savings rates were at highs during the pandemic
Just paid $13.50 for a personal sized lunch pizza, never again. Whether I can afford it is irrelevant, I'm simply tired of getting screwed.
Perhaps if our consumer driven non-essential spending declines; so will the prices.
Most all of us agree with the bold above.
I sometimes shake my head at threads on Nextdoor or Twitter regarding tipping at restaurants. I read many people say they always tip at least 50% and it goes up to 100% based on quality of service. I then note that such people are themselves servers in restaurants and their comments are highly self-serving.
Then I read assertions that "you should now tip 30% minimum for take-out" - again, posted by people who are on the receiving end of such tips.
And then I read assertions that "you should tip your US Postal Delivery Employee $100 at Christmas time," invariably written by - you guessed it - a US Postal Delivery Employee.
I'm not a scrooge by any means...
...but I draw the line at the tip jar at the check-in desk of the local Physical Therapist.
QE and funny money printing don't cause inflation, QE and funny money printing are inflation. Rising prices are only one symptom of inflation. And there were actually rising prices every year over the past 12 years- even using the cooked CPI.
We didn't have a real problem with rising prices until Covid struck. Spin it anyway you want. It was the truth.
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