Tag: economy

Photo by Joe WilcoxFeb 25, 20229:05 pm

The Price of Gas Rose 24 Cents Overnight!

Let me be the first to (sarcastically) thank the oligarchs—whether they be the Russian ruling class or one-percent of people holding the most wealth—for rushing to grub as much money as possible from we whom they regard as chattel. The invasion of Ukraine, and the West’s (ah-hum) finger-wagging recriminating sanctions, couldn’t possibly have disrupted the flow of oil yet. But why wait, when profits are to be had and war is a convenient excuse for puffing them.

Yesterday, regular, unleaded gasoline sold for $4.46 a gallon at all three of my San Diego neighborhood’s three economy filling stations. That’s cash price; credit costs more. As you can see from the Featured Image, price is now $4.70. That shocker greeted my wife and I this morning when we stopped to top off the tank.

Photo by Joe WilcoxFeb 10, 20229:18 pm

Inflation Disarms The Bomb

I learned something about cost-creep today that hopefully will benefit you. Don Miguel The Bomb Spicy Red Hot Beef & Bean Burrito is a favorite of mine—available in lots of 12 at my local Costco Business Center. When I first found them, some years ago, a case could be bought for $18.99 or $1.58 per 14-ounce burrito. Later, the price rose to $19.99 before quickly going up to $20.99 and finally $21.99 during the tightest SARS-CoV-2 (severe acute respiratory syndrome Coronavirus 2)/COVID-19 lockdowns. That’s $1.67, $1.75, and $1.83 per package, respectively.

After nearly exhausting a somewhat stocked supply, I returned with my wife to the warehouse store for more. My mistake: I did not closely inspect the box. Price is higher now: $22.49 for that dozen-filled case. But that 50 cents more is for less. The Bomb now is 12 ounces, a decrease of 14 percent in size for a burrito costing $1.87—15 cents per ounce versus 13 cents previously or 11 cents from what I paid about three years ago; maybe four, I don’t rightly recall.

Photo by Joe WilcoxNov 14, 202110:40 pm

A Rose by Any Other Name is Gone

Following “The Tree Tragedy” that destroyed the provider of shade (for us) and food and refuge (for birds and squirrels), I was ready to give notice and move out of our apartment. One problem: In December 2020, Governor Gavin Newsom essentially closed down the state for the entire month in response to a reported surge in SARS-CoV-2 (severe acute respiratory syndrome Coronavirus 2)/COVID-19 cases (e.g., positive tests for infection).

But Spring (e.g., Early Summer in San Diego parlance) brought more birds than any other year—many flocking to a hedge nearby our assigned parking space. Across the street, they, and other animals, used the mighty date palm as a majestic habitat. But South American Palm Weevils infested the tree, which the city destroyed in late July. The bugs are not indigenous and removal of infected palms seeks to slow their spread.

Photo by Joe WilcoxOct 28, 202112:03 am

Where are the Oscar Mayer Cold Cuts and Nathan’s Franks?

Someone might blame the so-called supply chain crisis for this unnamed (I won’t say) supermarket’s empty packaged, prepared, processed meat section. I’d like to think that to celebrate the World Series and return to big gatherings before the big screen following more than 18 months of SARS-CoV-2 (severe acute respiratory syndrome Coronavirus 2)/COVID-19 lockdowns that a whopper shopper cleared out the Bologna, hotdogs, and other deli delights for the big game.

The temperature gauge is in the red, which could indicate cooling malfunction—that despite stocked goods on either side of the empty section. As I walked by, a store employee wheeled a cart stacked with boxes of deli-fresh replacements. You’re welcome to blame the supply chain, and who doesn’t these days? I won’t.

Photo by Joe WilcoxOct 15, 20214:07 pm

Who Do We Blame for This?

You tell me. Because I really want to know.

I used iPhone 13 Pro to take the Featured Image, this afternoon in San Diego’s Hillcrest neighborhood. The gas station is located at Fourth and Washington. Vitals: f/2.8, ISO 32, 1/699 sec, 77mm; 1:18 p.m. PDT.

Photo by Joe WilcoxAug 6, 20208:36 pm

Park Your Butt, Not Your Car

Southern California continues to suffer from the self-inflicted economic devastation imposed by our esteemed governor, Gavin “Gruesome” Newsom. He has imposed a partial, second statewide shutdown in response to increasing confirmed SARS-CoV-2 (severe acute respiratory syndrome Coronavirus 2)—also known as COVID-19—cases. Pandemic deaths aren’t rapidly rising, which, in my journaled opinion, is the metric more important to making policy that harms millions of businesses and leads to massive job losses.

What is the harm? Locally, according to San Diego Regional Economic Development Corporation: “Forty-one percent of businesses surveyed saw revenues decline by 81 to 100 percent; 93 percent saw staffing declines of one to 50 employees”. Additionally, “minority-owned small businesses have been disproportionately impacted by COVID”. Explicitly: “More than 90 percent of minority-owned businesses have seen their revenue decline, with most experiencing steep revenue declines of 81 to 100 percent”. EDC released the most recent data—collected May 28 to June 8, when the state started reopening—on July 1, or 13 days before Newsom reimposed new closure measures.

Society by Joe WilcoxJun 22, 20182:24 pm

A Florist Uproots

Last night, on the NextDoor social network, I read a post about the University Heights florist moving and asking if anyone knew where. This morning, I stopped into the shop, Florabella, and asked. The 29 year-old establishment will for a time share warehouse space with a large floral distributor off of Morena Blvd. The current location is convenient and charming—inviting for walk-in sales. The temporary space is along a congested, commuting corridor.

The end of Florabella’s 24 year presence in my San Diego neighborhood is a common local retail story. At the end of May, the landlord informed the commercial tenant that the rent would triple, effective July 1st. For that month, though, the increase would be reduced to $1,000. I have heard the three-times figure often over the past 12-18 months. With a difference: The other shops closed up. The florist saunters on.

Responsibility by Joe WilcoxFeb 2, 20154:48 pm

Perpetual Prosperity Psychology and the Housing Bubble

Something about the housing bubble narrative bugs me: Conspiracy. Evil bankers conspired to bilk Americans by financing home loans to people who could never pay, to then repackage bad mortgages as good investment products. While I lauded Matt Taibbi news analyses in 2010 and 2013 for exposing financial institution malfeasance, the blame game always seemed to ignore one other party’s culpability: Borrowers.

New research paper “Changes in Buyer Composition and the Expansion of Credit During the Boom” is a fascinating post-bubble autopsy. Its conclusions, if they survive the test, rewrite the bubble narrative, which revision makes more sense to me.

News Media by Joe WilcoxApr 2, 20109:34 am

Robert Reich: No Jobs Recovery

University of California Professor Robert Reich isn’t glowing over March employment figures, and neither am I. Positive stories about the figures ignore fundamental information.

Society by Joe WilcoxSep 22, 20099:15 am

Why the Dow is So High But Consumers are So Low

Yesterday, I warned that signs of economic recovery are nothing more than a mirage. Today, I’m freaking out because Robert Reich has got an explanation so simple and so obvious. If the former US Labor Secretary’s analysis is correct, as I believe it is, the economy’s in deeper doo doo than even my worst warnings about it.

Money by Joe WilcoxMar 8, 20093:07 am

'If Hints Were Sledgehammers'

It’s not a great depression, neither is it a great recession we’re going through now. At the Brite conference this week, Umair Haque called it a great ‘compression,’ as an economy built on perceived value […]

Money by Joe WilcoxMar 6, 200910:47 pm

Dow's Fall From Grace, Yesterday and Today

It has been 513 calendar days since the stock market peaked on Oct. 9, 2007. Since then, the S.&P. 500 is down 56 percent and the Dow is off 53 percent. On Jan. 29, 1931—the […]