You know chit don’t seem right when your groceries alone, not even including fast food / restaurant dining, is about the same if not more than your mortgage payment.
Now that AI tech is going full swing in implementation across multiple industries in the U.S., prepare for stagflation.
Historically, stagflation occurs when high unemployment, slow economic growth and high inflation all happen at the same time. Powell compared today’s economy, with both inflation rates and the unemployment rate below 4%, to that of the 1970s, the decade when most economists consider stagflation to have taken root. May 1, 2024
You know chit don’t seem right when your groceries alone, not even including fast food / restaurant dining, is about the same if not more than your mortgage payment.
Now that AI tech is going full swing in implementation across multiple industries in the U.S., prepare for stagflation.
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All that avocado toast shakes fist
My total food bill is almost a $1000. I’m single and live in a city.
65% of it is groceries. Nothing fancy. It costs me $150 a week for the basics. Veggies, few lbs of meat, dairy etc.
Could I cut back and only eat rice and canned/frozen foods? Yes. But I want to eat good fresh food. I drop about $50 in produce a week alone.
So you spend $400/month on restaurants?
$150 x 4 = $600/month.
That lines up with the ‘65% of it is groceries’ part. 35% of almost $1000 is a bit shy of $350.
That’s a lot of take out.
That’s eating out like every other day. I eat out maybe every other week.
No, just over $1100 for the month. This of course includes, ever so often things like cleaning supplies, and toiletries.
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Assuming you’re in the US, that’s either a really cheap mortgage or a huge family. Where are you seeing grocery expenses exceed mortgage payments?