Why should I care about inflation?
  
Runaway inflation on our consumer goods and services can cause consumers to panic-buy large purchases and stockpile food. When prices seem like they are going higher and higher consumers believe that they would be better off making large purchases now rather than wait for later when they really need it. This pushes demand for goods higher, which in turn raises prices as supply for these goods diminishes. In reaction to higher prices and the overall cost of living, people demand higher wages. It is a reactionary and cyclical phenomenon, which eventually devalues our dollar versus the rest of the world, and weakens our economy.
Hot Take
I think the inflationary pressure that we are hearing in the media is a lot of noise. The real issues are supply chain (particularly Covid-related shutdowns in China) and the war in Ukraine. When the supply chain resolves itself, and we have had a full-cycle of increased inflation, it will come back to normal levels. Inflation is measured year-over-year.
We are already seeing a decrease in gas prices at the pump, as the threat of a recession becomes more real, people are travelling less and business are not spending as much.
Prices for wheat and soy beans have dropped to their pre-Ukrainian war level, which means that the war is no longer effecting our food prices as severely.
Bike Ride to Tommy Thompson Park
We rode our bikes down to the Leslie Street Spit (Tommy Thompson Park) last week. The big payoff was tossing big rocks into the water at the end!
It was the first time that we rode from our house and back.
I quickly discovered that I need a new bike. I've been riding the same mountain bike since I was a teenager, and it had definitely seen better days.
Book Recommendations
If you’re like me, you love a good book. Here are some recent reads that I can’t recommend enough:
📖 The Untethered Soul: The Journey Beyond Yourself
📖 The Millionaire Next Door: The Surprising Secrets of America's Wealthy
📖 If You're Not First, You're Last: Sales Strategies to Dominate Your Market and Beat Your Competition
After reading these books, you’ll no doubt come away with:
1️⃣ A better understanding of how to get out of your head.
2️⃣ Great wealth building insight.
3️⃣ A strong dose of @grantcardone motivation.
Have you read any of these? Let me know!
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