Kind of a lazy day yesterday, so my wife and I decided to drive to the Orlando Bass Pro Shop.   I needed a few things and my local tackle shop was closed for the Easter weekend.  The BP parking lot was full as usual.  Lots of Dads dragging their wives and kids along with them.  The last time I was there was during COVID when I tried to buy a new boat.   At that time, they only had one boat on the floor they wouldn't sell me.  I was told there was a two month waiting period for a new boat.   Yesterday, the store floor was covered with new boats.  I walked up to a shiny new bass boat and looked at the price.  The price was $84,000!   Granted it was a top of the line boat with a 300 Merc, but who buys these things?   Even their rigged aluminum Tracker bass boats where more than I paid for my 17' Ranger RT178 two years ago.   I already have a boat, so I passed them by.  I didn't see anyone else buying one either. They were out of stock on what I needed, but at least I got to look at the bass in the tank

 

On Tuesday, I took my wife to breakfast at a small local restaurant where we have been eating for years.  I had eggs, bacon, potatoes, toast and coffee.  My wife had an omelet.  When the bill came it was $32.  I asked the waitress if they had given me someone else's check?   She said no, my check was correct.  I left a $5 tip which meant our breakfast cost us nearly $40.  Even if they are paying the cook $100K a year, I don't see how that can be?   I am starting to believe people are jacking up prices just because they can!

With no end in sight.

And I can’t get a raise…..

 

as for who buys those boats, a whole lot of people

There is a limit...

Purchased a rib plate from a local restaurant I have frequented for more than

twenty years. I am very aware of high inflation, but my favorite little place raised

their prices almost 30% and had not posted the increases on their menu. 

 

 Well, I asked for Mike the manager and he apologized for not keeping  the menu 

updated properly, but offered no explanation for the exorbitant increase. I asked him

to call me if things change because I will not be back. 

Used to be able to go out to breakfast for $10. We stopped when it hit over $20. Last time I checked a blueberry muffin was $3. Why to rich for our blood.

Do you honestly not know the reason for the increase? You expect a business owner to eat those costs? 

I ran my own business for thirty years.  I realize costs go up, but not as much as I'm seeing now.  As long as people are willing to pay, they will go higher.  Sooner or later buyers go on strike. I believe we're almost there. 

I saw this in January at the boat show in January at the Mpls Convention Center and posted about it. Felt nice sitting in it, but you’d have to be borderline insane to buy it.

Have you paid attention to the grocery bill.  We are spending $200 a week for 2 of us and we have our own beef.

7 hours ago, Captain Phil said:

Kind of a lazy day yesterday, so my wife and I decided to drive to the Orlando Bass Pro Shop.   I needed a few things and my local tackle shop was closed for the Easter weekend.  The BP parking lot was full as usual.  Lots of Dads dragging their wives and kids along with them.  The last time I was there was during COVID when I tried to buy a new boat.   At that time, they only had one boat on the floor they wouldn't sell me.  I was told there was a two month waiting period for a new boat.   Yesterday, the store floor was covered with new boats.  I walked up to a shiny new bass boat and looked at the price.  The price was $84,000!   Granted it was a top of the line boat with a 300 Merc, but who buys these things?   Even their rigged aluminum Tracker bass boats where more than I paid for my 17' Ranger RT178 two years ago.   I already have a boat, so I passed them by.  I didn't see anyone else buying one either. They were out of stock on what I needed, but at least I got to look at the bass in the tank

 

On Tuesday, I took my wife to breakfast at a small local restaurant where we have been eating for years.  I had eggs, bacon, potatoes, toast and coffee.  My wife had an omelet.  When the bill came it was $32.  I asked the waitress if they had given me someone else's check?   She said no, my check was correct.  I left a $5 tip which meant our breakfast cost us nearly $40.  Even if they are paying the cook $100K a year, I don't see how that can be?   I am starting to believe people are jacking up prices just because they can!

This is what happens when you hold down inflation artifically for close to 2 decades and it has to come back to normal at some point.

 

As far as who is spending the money on those boats, it is the people who have that money to spend and that is where they put that type of value.  If someone wants to drop 100k on a boat more power to them and I am glad they can do it.  

1 hour ago, Captain Phil said:

I ran my own business for thirty years.  I realize costs go up, but not as much as I'm seeing now.  As long as people are willing to pay, they will go higher.  Sooner or later buyers go on strike. I believe we're almost there. 

I think you're mistaking whats going on now for price gouging, its really not. Its pretty much unprecedented in our lives that the pace and scope of goods has risen so high and so fast. I own 2 businesses and know many other business owners. Restaurant owners are especially being squeezed.

1 hour ago, Jig Man said:

Have you paid attention to the grocery bill.  We are spending $200 a week for 2 of us and we have our own beef.

⬆️THIS nails it⬆️

8 hours ago, Captain Phil said:

I walked up to a shiny new bass boat and looked at the price.  The price was $84,000!   Granted it was a top of the line boat with a 300 Merc, but who buys these things? 

Financed with 20 year loans...

I'm spending $70 per week for gas and chewing tobacco just to go fishing ?

When what were once considered entry level jobs at fast food restaurants and they raise the pay scale to $15 an hour you can expect to start paying a lot more for you hamburgers and chicken nuggets.

The Culver’s by my house is paying $25/hour for a starting day shift position. I presume it’s because they have to. Or they do not have any workers. And without workers, they do not operate.

I heard a story today about this. Some restaurants are laying people off because they can't afford to pay these super high wages without raising prices even more. So now you have a shortage of workers and slower service.

4 hours ago, jbmaine said:

blueberry muffin was $3

There's a shop on Cape Cod that charges $6/muffin.  There's a line out the door in the Summer. 

 

That's all I'm saying ...

4 minutes ago, Log Catcher said:

I heard a story today about this. Some restaurants are laying people off because they can't afford to pay these super high wages without raising prices even more. So now you have a shortage of workers and slower service.

They are only super high wages becasue they were kept down for so long and people finally realized, huh I do have some control as to how much I get paid and I won't settle for less.  No big company is going to go under if they have to increase wages.  It is an adjustment to what the market dictates.

Bought 2 1/2 bags of gerociers last night, no meat, and nothing expensive. Cost $ 80.00

Sheesh...

19 minutes ago, gimruis said:

The Culver’s by my house is paying $25/hour for a starting day shift position. I presume it’s because they have to. Or they do not have any workers. And without workers, they do not operate.

Dang I need to move to MN and start scooping 

Geeze, some of you that are old enough to remember seem to forget about the 80s when the inflation rate hit nearly 15% - more than double the current rate.  We all made it though.

 

It's not fun, but we'll be fine.

 

That said, most restaurants in my area offer $25/hr starting, with instant vacation, benefits, and tuition pay, and they STILL can't find workers!

It’s a common theme, the old timers in the breakfast joints around here say every year the lake is the lowest they’ve ever seen it. It’s because they don’t remember last year haha

2 minutes ago, Glenn said:

That said, most restaurants in my area offer $25/hr starting, with instant vacation, benefits, and tuition pay, and they STILL can't find workers!

Probably cause there aren't workers to be had.

 

Current Unemployment rate is 3.5% - same it was in Feb of 2020 before Covid messed everything up.

In the past 20 years - next lowest rate was 4.4% back in March of 2007

https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm

The current inflation rate is a redistribution of wealth.   The money I've worked hard for and saved all my life is going to be worthless by the time I retire.   I should have bought a $100K boat.  At least I'd have a super nice boat instead of a bunch of money that isn't worth anything.