Innovation Will Outlast Inflation
“You paid how much for that turkey?!”
I know I wasn’t the only one who heard a question like that at Thanksgiving dinner.
We just saw the most expensive Thanksgiving ever. Prices for food have been going through the roof.
- 16-pound turkeys: +24%.
- A dozen dinner rolls: +15%.
- Pumpkin pie mix: +7%.
So, if higher food prices or empty shelves are keeping you up at night … I’m here to tell you: Relax.
Because worry is the price you pay for something that may never come.
Yes, inflation might be a problem today. But over the next year or so, I’m confident the supply lines will come back and prices — especially for food — will head lower.
That’s what I told Steve Lance, host of the Capitol Report. He wanted to hear my thoughts on how businesses are adapting to the supply chain crunch.
You can hear my Real Talk in our interview by clicking right here or the play button below.
The Greatest Country
This isn’t my first rodeo with inflation.
When I was growing up, prices were skyrocketing, and our country was at war.
People started to forget the founding principles that made America the greatest country in the world.
My next guest on The Charles Mizrahi Show grew up in the same time period. And like me, he was raised with a deep love of our country.
I sat down with former Senator Rick Santorum to discuss U.S. foreign policy and how working-class Americans can create lasting change for the future.
You won’t want to miss our conversation.
Founder, Alpha Investor
Real Talk, Real Readers
One reader also recalls growing up during inflation in the ’70s…
From Michael B.: Like you, Charles, I live for baseball. Growing up, I played sports according to the seasons. The “Big Red Machine” played down Interstate 75, which was newly built at the time thanks to Ike.
My brothers and I had posters in our bedroom of our sports heroes of the ’70s. Peter Rose, Johnny Bench, Tony Perez, Jim Brown and Wilt Chamberlain. We were nuts over our favorite players. We went to the games a few times over my years at home.
We didn’t have it that bad in light of the Waltons. Dad had a union job as a journeyman painter in Dayton. He was the sole breadwinner. We had six members in our family, and Dad and Mom always factored in how many of us there were when buying groceries.
For example, a six-pack of Coke would do for four of us kids and Mom. As a right for the oldest, the sixth bottle along with any bananas went to my oldest brother.
Our lunch at school was $0.25, milk was a nickel. We each got a $1 allowance. You could buy 10 candy bars for a dime each until they went up to a quarter. Back then, candy was important to me, and I found that my dollar was buying less and less.
And when I was entering my teenage years in the early ’70s, I was a youth wanting to make money in a variety of ways. I shoveled snow for my neighborhood, raked leaves in the fall and mowed grass in the summer months.
I recall the price of gas rising from $0.35 a gallon to over $1.25 just about overnight. As you can imagine, this hurt my grass-cutting business. I remember my dad saying that if prices didn’t stop rising, us kids would have to pay to rent his lawn mower and yard tools!
Dad made a good living compared to most of my friends’ parents. But even then, we didn’t have a color TV or yearly vacations to Disney World. We stayed local, at Kings Island or the golf country club, where there was a pool. The club dues were only around $400 then, compared to $4,000 today.
We didn’t ride name-brand bikes, either. You know the Sting-Rays. Dad bought ours from Western Auto or Sears. And we collected Coke bottles for a nickel apiece, which we used to buy baseball cards. If we could save enough money through our chores, we could even buy a whole box for $10.
Despite not having what my rich friends had, I loved my childhood. I turned out successful through hard work and great relationships, with many goals accomplished — including my latest of becoming an Alpha Investor. Looking forward to this new venture with you, Charles.