|From the drink menu of The Dead Rabbit|
Cynics pointed out that most of the jobs growth were due to the belated lifting of Covid restrictions. "Belated" because many of the restrictions had proven to be of dubious value.
The sectors that rebounded the most were the sectors that had been hammered. Specifically, the hospitality industry.
Suddenly, people could not quench their taste for $8 cups of coffee, fruity $19 cocktails and $400, stained-glass suncatchers crafted by androgenous humanoids invariably named "Maeve".
While this is the least of the problems we face collectively, it becomes a huge problem if you are an aspiring artist/actor/bartender and your livelihood evaporates.
Households across America are looking at their 401-k and 403-b plans and soiling their shorts.
People spend "found money" far more easily than they spend money that they equate with blood, sweat, tears and privation. Losing $100k of "found money" sweeps the legs out from beneath the discretionary spending that buys those lattes, vodka-drinks and suncatchers.
ERJ, and that was right as inflation was really taking off. Add in costs all the way up the line, and things get serious.ReplyDelete
This is only a personal, non-statistical observation, but dinners are up about 30% since 2020 (and yes, to answer the question, my salary did not go up that much). What that has resulted in - as you suggest - is us going to out to dinner a lot less, and even when we go out, being a lot more selective about where we go. I am highly unlikely to gamble on a restaurant that is not something I am sure I will enjoy if I am paying a great deal more.
That, or I am just going to avoid the experience entirely.
That it does...ReplyDelete
took a weekend trip to a favorite haunt. the same room that was 200 bucks last year was 104 dollars. of course the 29 dollar entree was 45 bucks this time.ReplyDelete
Being mostly dependent on a fixed retirement income [mostly,heh] We have merely went into serious homecooking mode with entertainment provided by natures wonders here on the farm . Not only do I find my morning dump being much better but my health and strength are growing also . It did cost me personally though as I had to volunteer to do the immense pile of dishes from this mornings cube steak smothered in speltz gravy with home fried red skins and two free range eggs . I plan on living large through the entire coming Great Depression . No bugs for me thank you Greta .ReplyDelete