I’m in my early forties and so I was just a kid the last time inflation was like it is today. The 1970s and 1980s experienced quite a bit of inflation but it’s not something you really feel when you’re a kid. I had a middle class upbringing and my parents were frugal but the word “inflation” never came up. We saved money simply because that’s what we did, not because things were getting more expensive.
Compared with the numerous crises of the last 25 years, things being a little bit more expensive seems somewhat… pedestrian. We’ve had the dot com boom and bust, the financial crisis, the housing crisis, numerous conflicts and wars, the Covid pandemic… 7.9% inflation seems manageable?
We’ll see.
Living Through History [Irrelevant Investor] – “These are extraordinary times. The consumer price index increased by 7.9% over the last 12 months, which is the highest year-over-year increase since 1982. It’s a weird feeling, to know that you’re living through history. One day we’re gonna talk about this the same way that our parents talk about the 1970s. Inflation shows absolutely no signs of slowing down. Price increases are broad-based and expanding.”
I’ve only eaten in a couple places that have been awarded Michelin stars and they’ve all been pretty amazing experiences.
I’m common as muck and spent £150 in a Michelin star restaurant to see if it was worth it [Birmingham Live] – “But being that I have a new years resolution to be more intrepid and a desire to truly appreciate everything that Birmingham has to offer, I decided to give Michelin dining a go. Could it ever really be worth the expenditure? I thought, rather I find out than you go and be £150 down and disappointed. So I called.” It was a pleasure to read how much she enjoyed it.
The Enormous Scale of America’s Food Waste [Visual Capitalist] – “Every year, 30% to 40% of food produced in the U.S. is either lost or wasted. This waste occurs throughout the entire supply chain, though the majority of it occurs in downstream channels like households and retailers. Overall, 80 billion pounds of food is wasted each year, representing 242 pounds of food per person.” WOW. Also, this is telling – “80% of Americans discard edible food because they misunderstand the expiration labels.”