“Inflation 101”
By
Gerry Niskern
“Inflation is the time when those who saved for a rainy day get soaked.” Unknown author
A white haired lady stopped me at the grocery store the other day. “I can remember when toilet paper was fifty cents for a 4 pack!” she declared indignantly as she waved the pack at me.
“Hey,” I replied. “I can remember when we were first married and our weekly food budget was ten dollars. It went up to fifteen when we had our first baby.”
We had that budget because a wise insurance agent gave us a budget book to keep for the first year. “Always go to the store together and write down every single thing you buy, even a pair of shoe laces.” He continued, “Do that for the first year and you will never be asking each other in years to come, where did the money go?” I always chuckle when I remember my young husband discovering the price of Philadelphia Cream Cheese. Needless to say, we didn’t buy any, but he did remark to his parents later that he hadn’t realized the cost of cream cheese when he was eating it at home. In later years he loved to tell the story later of how he would put donuts and bananas in the cart, but when we got home they weren’t there. “She always put them back when I wasn’t looking!”
We didn’t buy the salesman’s insurance, but I was always grateful for his wise consul.
That morning at the market last week was unusually busy and then I remembered. Of course, it was the day the Social Security checks had arrived! Seniors were out in force armed with their coupons and indignation. Being on Social Security makes everyone really good at math. There’s a kinship among those “first of the month” shoppers. “Hey, there’s a sale on Libbys canned green beans, and there is a good price on eggs today too. Did you see bananas are 59 cents a pound?”
There is a quote that goes, “Basic Economics: It’s the most complicated simple subject there is”
The Pandemic created worldwide economic turmoil, insurmountable supply chain issues and inflation followed. Political parties are being blamed by the other side. Economists are saying it is going to take time. Seniors are saying, “ Hurry every chance you get.”
I stopped for gas on the way home. Don’t Ask!