from almost 2 mos ago: A virulent monster is dangerously out of control. Let us slay it together
usa...usa...usa...
this is the biggest reason why i get almost no joy out of going out to eat. even when the 3 of us split 2 meals, we sometimes have leftoversPRICE inflation remains relatively subdued in the rich world, even though central banks are busily printing money. But other types of inflation are rampant. This panflation needs to be recognised for the plague it has become.
Take the grossly underreported problem of size inflation, where clothes of any particular labelled size have steadily expanded over time. Estimates by The Economist suggest that the average British size 14 pair of womens trousers is now more than four inches wider at the waist than it was in the 1970s. In other words, todays size 14 is really what used to be labelled a size 18; a size 10 is really a size 14. (American sizing is different, but the trend is largely the same.) Fashion firms seem to think that women are more likely to spend if they can happily squeeze into a smaller label size. But when three out of four American adults and three out of five Britons are overweight, the danger is that size inflation reduces womens incentive to eat less. Meanwhile, food-portion inflation has also made it harder to fight the flab. Pizzas now come in regular, large and very large. Starbucks coffees are Tall, Grande, Venti or (soon) Trenta. Small seems to be a forbidden word.
Inflation is also distorting the travel business. A five-star hotel used to mean the ultimate in luxury, but now six- and seven-star resorts are popping up as new hotels award themselves inflated ratings as a marketing tool. Deluxe rooms have been devalued, too: many hotels no longer have standard rooms, but instead offer a choice of deluxe" (the new standard), luxury, superior luxury or grand superior luxury. Likewise, most airlines no longer talk about economy class. British Airways instead offers World Traveller; Air France has Voyageur. Sardine class would be more honest. The value of frequent-flyer miles is also being eroded by inflation: it is increasingly hard to book free flights; they cost more miles, and redemption fees have increased. This was inevitable: airlines have been issuing so many miles (for spending on the ground as well as in the air) that the total stock is worth more than all the dollar notes and coins in circulation. Central bankers would shudder at such reckless inflationary policieswere they not themselves earning triple miles up in first class.
usa...usa...usa...