To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer." Mahatma Gandhi
Be nice whenever possible. It's always possible. HH Dalai Lama
In a world where you can be anything - be kind. Unknown
I really feel sorry for people barely getting by because of low incomes.
I noticed this morning on my way into work that gas prices jumped 6 cents over night. Going home yesterday, they were $2.99 and this morning, $3.05. So glad I don't live near where I work. Northern VA prices on everything are ridiculous but where I live in Southern MD, they aren't.
Brazil production of Arabica coffee beans is expected to be 15 million bags less this year compared to 2020. Prices of Arabica beans have generally been increasing since May 20, 2019, when the reported price was USD 0.93 per pound.
July 13, 2021, price had increased to $1.522 ... the upward price trend is well established.
During the past 45 years, the prices of Arabica beans have swung in a range between dramatic lows and highs ("sky" highs!)
March 31, 1975 $0.49
April 4, 1977 $3.23
Sept 28, 1992 $0.57
May 5, 1997 $2.18
Oct 29, 2001 $0.45
March 14, 2011 $2.76
May 20, 2019 $0.93
The duration of price swings from a bottom to a top ranged from 2 years to nearly 10.
A rational consumer may respond to higher prices by delaying a purchase, buying a lesser quantity, or deciding the item is not truly needed at all.
The question of wants versus needs can lead to interesting discussions.
For example, consider a mink coat:
to a furrier's customer, a want;
to the mink, a need.
I was reading what Carl Sagan said in 1995 that when the US went from a manufacturing economy to service we were going to experience many social problems. Back then minimum wage jobs were for kids. You need decent paying jobs for unskilled workers which is what many manufacturing jobs were.
To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer." Mahatma Gandhi
Be nice whenever possible. It's always possible. HH Dalai Lama
In a world where you can be anything - be kind. Unknown
Consumers' expectations of inflation are rising.
A monthly survey of 1,300 households was launched by the New York Federal Reserve in 2013.
The median expectations in August were:
1 year inflation in all prices 5.2%
3 year annual inflation in all prices 4%
1 year inflation in rent 10%
1 year inflation in food prices 7.9%
1 year inflation in prices of medical care 9.7%
These median values are the highest inflation ever expected by consumers since 2013.
On May 13, 2021, Larry Summers stated in his recorded comments at Coindesk Conference: In a super permissive fiscal environment, if inflation expectations are allowed to rise, the process of putting them back and restoring normality is likely to be uncontrolled ... and costly.
The Manheim Used Vehicle Value Index increased in September by 5.3%. The index is now up 27% from September 2020. It would appear that dealers are bidding aggressively at auction for used vehicles. And consumers are buying used vehicles at higher prices...
I checked the Kelly Blue Book trade-in value on a Jeep I bought in February 2020. It seems really strange, but the trade-in value now is about 10% greater than the amount I paid for the car 19 months ago.
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