SOUNDBITES - 2022

INFLATION REARS ITS UGLY HEAD

Inflation is back eating into consumer savings and spending.  Demand has been outstripping supply fueled by a robust economy, too much money chasing too few goods and gas prices at unseen levels.  Manufacturers have slyly cut packaging sizes to offset rising costs to fool consumers and avoid raising prices outright.  Now, retailers have stocked shelves and a slowdown in purchasing is portending deep discounts as consuers rein in spending.  The housing market has slowed, the Fed is aggressively raising interest rates and unemployment is expected to increase as a result - a recession appears likely.  

TRAVEL, TRAVEL, TRAVEL!

Despite the risk of illness, Americans' thirst for travel is high, even higher than pre-Pandemic levels.   Airlines struggle to meet demand, airports and airplanes are jammed, TSA lines and wait times are long, and flights are cancelled due to lack of crew.  Wait time for an expedited passport is 16 weeks or more.   The open roads are no exception, despite high gasoline prices.

WFH AND THE LOW WAGE SECTOR 

The US labor market construct has been upended by the Pandemic.  More and more employers are requiring and enforcing a mandated vaccine policy, are experimenting with flexible working arrangements and hours, and accepting a permanent WFH employee roster, yet they are also recalling employees to the office with employees bgruding this.  Employees are changing jobs in droves while the low wage employment sector goes begging for employees.  Despite some States cutting off unemployment benefits, employees have not returned to their former low wage jobs, the days of employers offering hiring bonuses and other perks to lure them are over.

GLOBAL WARMING CONTINUES TO AFFECT OUR CLIMATE

All around the World wildfires, floods, draught, severe storms and unusual heat patterns are causing dangerous conditions affecting our Planet and existence.   Climate change needs to be addressed urgently.   Our prayers go out to the victims of Hurricane Ian.

MCM, VINTAGE, OLD IS NEW....

Bell Bottoms, shoulder pads, Pucci dresses, Scandinavian furniture, '50s-80s home accents, vintage Persian carpets, vintage Gucci handbags -- everything once jettisoned to Goodwill as out-of-date is now coveted and oftentimes priced higher than when once new.  The sustainable movement has taken hold.

THE FASION INDUSTRY MOURNS

The fasion industry mourns the loss of iconic Leon Talley, a trendsetter and first Black American to make a strong influence on fashion.  Rest in peace Leon.