Fair reflections, relationship advice, and inflation stats

Hi, all. I had a whirlwind of a week last week covering the Clark County Fair and Spencer Music in the Park, in addition to a few things I had going on outside of work. I give the fair participants a lot of credit for all the time they put in to get their animals ready (or craft projects, produce, baked goods or whatever it may be). In general, it’s safe to say kids are capable of more than we think they are, and sometimes they just need a gentle push in the right direction.

It was nice to see people milling about, socializing and catching up with friends or acquaintances they hadn’t seen in a while; competitors congratulating each other after an animal show; and people flocking to the 4-H food stand and dairy bar to support 4-H trips and scholarships for college students. In a lot of ways, the fair exemplifies the overall spirit of neighborliness and friendliness that makes this area such a good place to live. There is a sense of shared values, such as hard work, respect and helping out others when you can, and everyone seems to appreciate that. - For the married folks out there, in my surfing the web I came across some solid marriage advice from longtime New York divorce lawyer James J. Sexton. After a 25-year career, he would know what patterns cause marriages to fail. He said that people usually come to him looking to get a divorce not after some big event, but a series of a thousand little grievances or prolonged unresolved conflicts.

“ The cycle of misery that people experience lands them in my office: ‘Well, why should I sleep with him? He was working all the time.’ ‘Well, why should I want to come home, when I come all she does is complain to me?’” he said.

However, as discouraging as that may be, Sexton said marriages can just as easily be turned around.

“The cycle of misery can also go the other way. Just be kind to your spouse, … all the things you were to each other when you were dating … . What if it’s that simple? What if it’s just leaving a note before you go to work that says, ‘I married the prettiest girl in the world. See you later.’ There’s no product you have to buy. Advertisers will never jump all over it… What does it cost to tell your spouse they’re beautiful, or that they’re funny, or that they’re smart, or that they’re a great mom?… What if it’s just that simple?”

In other words, consistent small acts of kindness can go a long way towards rekindling a romance. It just takes some intentionality. - It’s no secret that prices for basic goods like groceries have skyrocketed. But just in case you needed proof inflation was real, or validation that others are also feeling the pinch, CNN conducted a poll of American consumers on the topic. The poll found that 39% of Americans worry about paying the bills most or all of the time. This is even higher than the 37% during the 2008 crisis, when joblessness was running nearly 10%.

To throw a few more stats out there, as reported by The Daily Signal: – The gap between nominal wages and inflation-adjusted wages since 2021 is more than 20%.

– While official inflation since COVID-19 stands at 21%, fast-food menu prices—a

Striking a

Chord...

standard finance proxy for true inflation—are up more than twice that, while housing costs have doubled since COVID-19.

– Although employment levels are under 5%, that number is deceiving because government statistics count part-time jobs the same as full-time jobs. The CNN poll found that 35% of Americans say they have to take on part-time work to make ends meet. That rises to 44% of blacks, 52% of Latinos, and nearly half of workers under age 45.

– The poll also found that more than two-thirds of Americans are cutting back on groceries, and nearly half are cutting back on driving to save gas. Also, four in 10 Americans say they are using credit cards to pay for their necessities, like groceries and gas.

– The younger generations are being more acutely impacted, according to the poll, with nearly 80% of Millennials and Gen Z saying they are unable to afford everyday expenses.

I saw a comparison video the other day that really laid out how average income has not kept up with expenses: – In 1980 the minimum wage was $3.10; it’s now $7.25 (2.3 times higher). – The average salary was $12,500; it’s now $59,000 (4.7 times higher). – The median household income was $22,000; now it’s $77,000 (3.5 times higher). In comparison: – Rent was $243 on average; it’s now $1,900 (7.8 times higher). – The median home price was $47,000; it’s now $419,000 (8.9 times higher).

– And finally, average college cost (four years, in state university) was $2,300, while now it’s $30,000 (13 times as much).

If income were to keep up with housing and college costs today, to maintain the same proportion as 1980, for housing the median household income would need to be $171,000 and for college it would need to be $286,000.

This is why it irritates me when people say the younger generation just needs to “try harder,” as it’s definitely not an even playing field for young people trying to get their start in life today compared to their parents’ generation. Thankfully, it seems that most people around here understand the unique economic challenges that young adults today are facing. - That’s all for this week. I will leave you with a quote.

“The ideal moment to begin working on your goals was yesterday. The next best opportunity is today.” – Chinese proverb, paraphrased.