/**/

Collapse

Announcement

No announcement yet.
Collapse

Inflation

X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Inflation

    Yesterday I had a discussion with a friend re: eating out.
    We eat out a lot. Hardly cook at home at all.
    1. A bowl of Pho is now $15.
    2. For the 2 of us, my average bill is $50 plus tips.

    Base rent as I mentioned before had been going up between 50 to 100%. When you factor in the TMI, you are paying at least 50% more monthly. My company monthly rental is going up from $8500/month to $12,500/month.

    None of my existing customers will tolerate or should be expected to pay 50% more for their products. To pay for this new increase, I am starting a new division that should generate new sales and we will be fine.

    But, a restaurant has no choice but to raise their prices to cover this new increase. And I am not even factoring that the price of ingredients and staples like cooking oil has gone up too.

    All those on fixed income - whether on salary or otherwise I am sure will if not already feeling the "pain".

    What are your thoughts on this.

  • #2
    I live by a university. Homeowners are renting out their master bedroom for $1000/month on my street....that's 1 bedroom in a house. Rent has gone through the roof.

    Comment


    • #3
      Capitalism at its finest. Charge what you can, when you can.

      Things are quite broken at the moment. Some of that is due to ridiculously low interest rates for a very long time. That will unwind as rates go up.

      Income disparity is another issue that may or may not unwind itself.
      In The Bag

      Golf clubs


      "You're just expected to work and die ...
      and maybe buy some useless s**t you don't need inbetween"

      Comment


      • #4
        I too believe that the current high inflation will taper and will return to some lower level. Whether the prices that were raised during this period will stick or return to something lower will remain to be seen. Prices usually rise quick and are much slower to go down.

        I read the following article regarding tapering renovation work and potential pain ahead for the housing/renovation/construction industry. All the residential investment that drove the boom prior to Covid and that was exacerbated during Covid was a house of cards built on cheap money. Now that that is going away, the house of cards will fall and those contractors will be forced to compete for less work. Natural forces of supply and demand will lower the pricing, just as it did on the way up when demand exceeded supply.

        https://www.bloomberg.com/news/artic...f-brewing-pain
        Proud member of the Prune Juice Army.

        Comment


        • #5
          I saw a new word in a news report yesterday, 'greedflation'.

          While the cost of fuel/transportation and to a degree labour have resulted in necessary price increases in some areas, in others it is a 'because we can' increase.

          Profits at Loblaw increased by 40% in the first quarter of 2022.

          Overall corporate profit levels for the first quarter of 2022 were at record levels.

          https://www.marketwatch.com/story/co...ng-11649802739

          Those who are on 'fixed' incomes are indeed suffering.

          Meanwhile a 'cottage' in Muskokahas just been listed for a cool $20 million.
          https://buffalonews.com/business/loc...isting/article


          Comment


          • #6
            I recall one thing from Economics 101:

            "Saying that inflation causes high prices is like saying that wet pavement causes rain.".

            Comment


            • #7
              Originally posted by Fredk View Post
              Capitalism at its finest. Charge what you can, when you can.

              Things are quite broken at the moment. Some of that is due to ridiculously low interest rates for a very long time. That will unwind as rates go up.

              Income disparity is another issue that may or may not unwind itself.
              But are we really living under a capitalist model if we take the governments monetary manipulation into account?

              Comment


              • #8
                Question.
                When you are in a restaurant and they hand you the mobile device to pay and the options for tip start at 20%...do you click on that or do you go CUSTOM and add your own percentage, cuz 20% (includes the taxes) and boy does the bill skyrocket
                addicted to G.

                Comment


                • #9
                  Originally posted by Bosco View Post

                  But are we really living under a capitalist model if we take the governments monetary manipulation into account?
                  I believe he means capitalism in the big picture, not solely here in Canada.
                  Resolve to be tender with the young, compassionate with the aged, sympathetic with the striving, and tolerant with the weak and wrong, because sometime in your life, you will have been all of these. Dr. Robert H. Goddard




                  Comment


                  • #10
                    Originally posted by 4underthru9 View Post

                    I believe he means capitalism in the big picture, not solely here in Canada.
                    Yup - this greater capitalism is resembling monetary policy of the likes of China

                    Comment


                    • #11
                      Originally posted by Phnert View Post
                      Question.
                      When you are in a restaurant and they hand you the mobile device to pay and the options for tip start at 20%...do you click on that or do you go CUSTOM and add your own percentage, cuz 20% (includes the taxes) and boy does the bill skyrocket
                      If it is a place I am very friendly with, yes. If not and service is not up to par I choose another percentage.

                      18% on total bill is also virtually equal to 20% pre tax if anyone has never done the math.

                      Comment


                      • #12
                        So, 100 * (1 + 0.2 + 0.05) = 125, and 100 * 1.05 * 1.18 = 123.9. And 125 is close to 123.9! There are so many reasons I'm glad to check in on TGN regularly.

                        Comment


                        • #13
                          Originally posted by OKHC View Post
                          So, 100 * (1 + 0.2 + 0.05) = 125, and 100 * 1.05 * 1.18 = 123.9. And 125 is close to 123.9! There are so many reasons I'm glad to check in on TGN regularly.
                          Did you forget the tax part? Perhaps you aren’t in Ontario but here the tax is 13% on a bill.

                          But thanks for snarking!
                          Click image for larger version

Name:	CBA33AF9-DC51-4801-AD89-A788EB1A1092.jpeg
Views:	160
Size:	16.0 KB
ID:	3572441

                          Comment


                          • #14
                            Originally posted by Phnert View Post
                            Question.
                            When you are in a restaurant and they hand you the mobile device to pay and the options for tip start at 20%...do you click on that or do you go CUSTOM and add your own percentage, cuz 20% (includes the taxes) and boy does the bill skyrocket
                            I usually do my own math and decide on a tip rather than choosing 18%, 20% etc. If the service was good, naturally the tip is higher.

                            Comment


                            • #15
                              When restaurants were open for 10 people or half capacity or whatever during COVID I got in the habit of tipping 30%-40% in appreciation of staff working versus laying around the house collecting CERB.....plus just being happy to go to a restaurant. Don't do 40 anymore but 25-30 usually.

                              Comment

                              Collapse

                              Latest TGN Reviews


                              Collapse

                              PGA Leaderboard


                              Collapse

                              Today's Birthdays


                              Working...
                              X