Our financial system is crumbling this week.

[CardsofSTL]

It's crumbled before; it will crumble again.

[sighyoung]

[sighyoung]

[TheoSqua]

[thrill]

I suppose they could allow negative interest lending to consumers lol

[sighyoung]

In other words, during the long economic expansion, firms took on more debt, since they expected profits to continue. Because of the greater debt, these firms are more vulnerable to economic downturns, since can't pay off either the principal or interest. And one firm's failure leads to another, then another . . .

[sighyoung]

[Superorganism]

A trip to the grocery store or a local eatery is becoming painful.

This inflation is gonna make my 3% raise really a 7% pay cut.

[G. Keenan]

A trip to the grocery store or a local eatery is becoming painful.

This inflation is gonna make my 3% raise really a 7% pay cut.

Weirdly, in my area I'm not yet seeing inflation in the grocery store. All my pantry staples seem to cost the same as they did in 2020. Maybe prices were higher here prior to this period of inflation so the sellers have more margin to absorb higher wholesale costs? I dunno. Could also be that I don't pay close enough attention.

I have noticed that several of my local eateries have raised prices by like $1/item.

Beer, weirdly, has not gotten more expensive which I would expect it to considering everything that goes into a beer/can like aluminum, grain, hops, gasoline to ship it, etc. Those all seem super vulnerable to supply chain problems and inflation. Maybe they have gotten more expensive but these urban hipsters realize that $12.99 - $15.99 for a 4-pack of hazy IPA was already an act of insanity and don't want to push their luck any further.

[Arthur Dent]

Beer, weirdly, has not gotten more expensive which I would expect it to considering everything that goes into a beer/can like aluminum, grain, hops, gasoline to ship it, etc. Those all seem super vulnerable to supply chain problems and inflation. Maybe they have gotten more expensive but these urban hipsters realize that $12.99 - $15.99 for a 4-pack of hazy IPA was already an act of insanity and don't want to push their luck any further.

I’m telling you, we need more conspiracy thinking about this. Surely, in Chicago, the Nation of Islam is on the case?