I looked at Walmart.com for their Black Friday deals which are already live.
Extremely popular among 3P sellers of electronics are video projectors. Now as low as $65, less than a replacement bulb for previous generations, chock full of smartphone friendly features.
I can’t believe there is enough demand. Apparently, sellers were looking for something everyone else did not have, and many reached the same conclusion.
The measure of pain to consumers is not the inflation rate. It is the cumulative inflation rate.
The inflation rate is something the FED can do something about, the cumulative inflation rate is something which only an economic crash and deflation can cure or widespread wage inflation due to labor shortages can cure.
Economists attempt to solve the problems they think they know how to solve. Reporters mimic the words of politically favored economists.
Most consumers judge the economy by what they have in their pocketbooks when they need to buy something, or how much credit they have left on their Mastercard or Visa.
It is like speaking Greek to an English speaker when you present them with economic news.
The instant + disposable camera fad ran through Gen Z over the past few years. This would be the next logical step, I suppose… though, I’m not sure the projectors will have significantly more staying power. Once people see how much easier it is (and better looking) on their already ridiculously large HD and 4K TVs, I’d think that this current fad will only run a holiday season or two, tops.
I just bought a car in July for my birthday and inventory shortages are such that just last month another dealer offered to pay more for my car then I bought it for with mileage. I got lucky since the car was a waitlist only car and someone had already ordered the exact specs and paid the deposit for the car I wanted only to have changed their mind. So definitely along with inflationary issues we have limited supply bumping things up. I paid nearly $3k above msrp for my car, which is technically illegal but the way dealers get around it is they offer mandatory packages - so they offer something for the price like window tinting - premium paint detailing etc. Had I purchased the car in CA the markup is around $8-9k
I have no clue what housing will do as I haven’t paid too much attention beyond superficial browsing of various opinions; one is things are gonna crash; the other is inventory is so low and unlike 2008 people have massive equity in their homes (again I don’t get how that applies to folk that purchased their homes within the last few years at market premiums).
My China source keeps trying to peg the dollar to a non-fluctuating rate like 1USD = 7.10 RMB And my purchaser just keeps ignoring the fuq outta them.
I’m not sure that I would agree with that if you keep the word ‘only’ in there. Regardless, current data does meet your second condition: “widespread wage inflation due to labor shortages”.
We have widespread wage inflation during the past year, and the unemployment rate is the lowest we have seen in 40 years.
Moreover, in the past year, the greatest gains in wages have been experienced by low-wage workers.
The current glide path really does look like we are going to have a soft landing.
Not large enough to offset the cumulative inflation rate. Simple arithmetic is required to determine that. The FED has made it clear that one of their key observation is the rise in wage inflation, and were it to increase enough to have an effect - they would raise interest rates to a greater extent than they have,
The FED is deliberately preventing deflation and recession or depression. And is not finished raising rates. Once can expect the UAW settlement to be considered in its decisions. It is more likely to consider increasing unemployment than missing its 2% goal for inflation.
Find some documentation for the improvement in wages for low wage workers. Only data I can see is that low wage workers are working two or three jobs.
Black and hispanic worker wages are well off their recent peaks.
Working for yourself, handmaking all your own items that are wants and not needs is just not sustainable.
I am enjoying my fun money while I have it but I can see the writing on the wall. Maybe I’m just burned out since I’ve been doing this since 2008. I’m lucky to have a spouse who has a nice job and so I don’t have to work right now, but I might need to in the future and these last few weeks I’ve really decided that maybe it might be time to jump back into a real job and so I’ve been exploring what skills I might need to acquire in the next year or two.
Also if you are in the market for major appliances I think stores are really feeling the pinch. I’ve been wanting to buy a specific fridge for over a year and finally got a fantastic deal that made me jump.