We Are Running Out of Some Stuff

“Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.” – Sam Ewing Sometimes I think I’m taking crazy pills. In my real life, everywhere I look I see less choice and higher prices. Everybody I talk to has a story about something they need to buy but can’t. Many big-ticket items have unprecedented lead times, assuming you can get them at all. My friends in the corporate world are focused on raising prices ahead of their increasing input costs. They are also staying up at night worried about accessing supply altogether – be it parts, materials, or even labor. I see shrinkflation, both in the size of the consumer goods I buy and in the level of service provided, compared to the pre-Covid period.

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