Economics, is that still a thing?

I am now painfully aware of a change in the economy, and I do not mean the gas prices. While the price of gas is now steady here, it went up quite a bit from where it was. In October of 2020 I would pay around $1.70 per gallon, making my gas bill at max was $31. It is now almost double that on a good day. I digress, as this is not the change I am seeing. The big question is “Economics, is that still a thing?” because quite frankly, we do not act like it.

Today I went out shopping, not necessarily because I want to, but because the house needs a few provisions. Simple things like groceries, a flashlight, and some office supplies now that our household works from home. Sadly, the shelves are empty, and I mean bare bones empty. Now I understand that there may be some issues getting back up after a long shutdown of the whole country, but a year to get started? That is ridiculous.

Meat, the issue

Now while the above is pretty bad, it gets worse. I am slowly becoming a connoisseur of Chili, and as such I am constantly preparing large pots of Chili to perfect my recipe. This requires a large amount of ground beef to make a pot, roughly 2 pounds. Again, just like with gas, I would pay $10 – $12 in 2020 and 2021. As of this week, we are paying almost $10 for a single pound, meaning the price is now almost double the 2020 price. Farmers are being blamed for the high cost of meat. Now, knowing a few farmers from the middle of nowhere, I can assure you that is not the case. Farmers are also painfully aware of a change in the economy. They are getting hit with higher taxes and now higher costs of business.

Lowering Costs

There is no easy nor direct way to lower costs without some changes. A good example is the desire of the government to increase the number of IRS staff. This means the government needs more money, and the only way is more taxes. When you increase taxes you will lessen the amount of available funds for households. This will lead to an increase in the cost of living, thus requiring pay increases. This will then lead to a vicious cycle, and the American people do not win. The only way the American people can win is to have government spending cut down. This would also require a balance in the budget. Neither of these things appear to be happening right now.

So what is next?

Odds are the next steps for us will be increases in costs of living. Several places are speculating that gas prices could hike this summer. Which is easily foreseeable. Honestly, I am expecting an increase in gas prices, but also an increase in other markets too. I constantly see these “real estate agents” on social media claiming the market will not crash. If we keep inflating prices like homes, meat, and gas then eventually the balloon has to pop. Seriously, go buy a balloon and start pumping air into, but do not stop inflating at all. It will not work out well. Oh and wear ear plugs when you do this!

And this is how we wind up All Hat, with No Cattle!