I have a memory of my parents talking about "inflation," way back in a time I don't really remember well. It was the late 1970's, and I was still in my teens.
There was a lot of talk about the various things we "couldn't afford" and the various things we'd have to "give up" in order for our lives to continue.
I remember that we "did without" a number of things... but I don't recall that we suffered any real hardship. It seems a very long time ago, and the memories almost have an abstract feel to them.
Fast Forward 40+ Years
I was at the supermarket yesterday, trying to stock up on a few basics, ahead of the winter storm that did come through, overnight... and continues to send white flakes to the ground.
I really came face-to-face with how much $65.00 — all I had in my pocket — would not buy, in today's economic climate.
Then I found a "family size" bag of our favorite potato chips on sale at what seemed like a decent price... and I noticed something: What was a 16-oz bag of chips just a few months ago is now a 13-oz bag! It pretty much looks the same, but you're just getting fewer chips for your buck. It struck me that they were probably starting out with the "revised" bag size on sale to get people eased into this new paradigm, without too much "sticker shock."
And that "sticker shock" abounds. And I know that I am "not just guessing" because I am somewhat obsessive about saving old receipts for reference, and I can pull out a receipt from 2021 and see that I was able to buy boneless skinless chicken breasts for $2.99/lb in mid-2021, and now they are marked $6.29/lb.
What's alarming about it is something I have mentioned a few weeks ago: Not only are things EXPENSIVE, but the price increases we are seeing on many kinds of food are far higher than the alleged 8-10% "official" inflation rate.
I suppose I really shouldn't be surprised — I have long known that "official numbers" rarely reflect what is actually happening, at street level, for ordinary people.
In a couple of days, we will be heading back out to do the "big" grocery shopping trip for the holidays... and I am (more than) a little concerned about how that will turn out... we only have so much, so I guess we will be using the same "what can we do without" strategy my parents were using, way back when.
Funny how history has a way of repeating itself!
Much like in the late 1970's, it's not like we will be suffering actual hardships, but there's a lot we will not be buying... and simply that statement lends veracity to what some of the talking heads on the financial shows are talking about: The possibility of a recession, and economic contraction.
And there's no way I am going to "pretend things are normal" and put Holiday food on credit cards... spending months and paying interest on Christmas dinner? NO WAY!
And if that makes me The Grinch, so be it!
Thanks for reading, and have a great remainder of your week!
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Created at 20221220 23:20 PDT
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