In Iceland last week, it cost me 2,500 Icelandic Krona for my delicious soup and sandwich. The equivalent of $20 US Dollars.
I had to ask, why are there so many zero’s attached to foreign currencies in comparison to the US’s.
Control the narrative, control the story…
They’re going to tell you this is just temporary. They’re going to say everything is fine. You don’t have to worry.
But when you look to add another front office team member because your practice is bursting at the seams, there’s not a single soul knocking on your application door. Rising supply cost makes it tempting to only give out single ply tissue and regulates everyone to a maximum of 4 squares per visit. Clench your arses, because this inflation trip is only starting.
If you’ve been reading these episodes, I hate to say ‘I told you so’, but I told you so. Months ago. The writing was on the wall. Incentivizing staying at home, makes people want to stay at home. It’s simple math.
The fed spins whatever is happening into mind numbing calculus. Saying this ‘inflation’ is transitory. I don’t think so. Have you ever seen Chipotle lower their prices on a burrito? God I love the taco’s there. But outside of dressing up like the Tin Man with aluminum foil on Halloween for a free Burrito, I’ve never seen it get cheaper.
Consumer Price Index just rose above 5%. The fed wants this to be just under 2%. Let’s think for ourselves. That’s how you thrive. Whoever controls the narrative, has the power.
Either you can believe what they’re telling you. Or you can think for yourself and believe what you’re seeing. People are revved up to spend. They have a pocket full of cash. And yet, there are restaurants limiting hours due to staffing.
There are supply chain issues because too much demand chases too few goods and services.
Prices increase.
Nobody is going to reduce their price after this is over.
You and I will come out of this unscathed. I promise you that. It’s not you or even myself to worry about. It’s about those who are already scraping by on a minimum wage. Those already near the fringe. They won’t even be able to afford your inflated extraction prices when all is said and done.
The safety net will slip into an abyss of worthless inflated cash. Followed by many zero’s.
Next time you wonder why there are so many zero’s behind a number. Take a moment to think for yourself. There’s a reason it got that way.
Lam