PBD Podcast Home Team: Wealth Inequality | PBD Podcast | EP 103
Nov 18, 2021
Danielle DiMartino Booth, a savvy financial expert and economist, shares incisive insights on wealth inequality and its grim impact on Americans. The discussion highlights the stark disparities in stock ownership and the struggles faced by younger generations amid rising living costs. Booth delves into inflation's toll on low-income households and seniors, while also addressing the challenges of automation in the workforce. Listeners also hear about the ongoing crisis at U.S. ports, shedding light on its effects on small businesses and consumers.
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Thanksgiving Essentials Shortage
- Thanksgiving staples are disappearing from grocery stores due to supply chain issues and panic buying.
- However, bacon remains fully stocked, although its price has increased significantly.
Bacon Price Surge
- Bacon prices have seen a dramatic increase, from $5.83 per pound in 2020 to $9.99 currently.
- This price hike is not attributed to port congestion, as most bacon is produced domestically.
Media's Inflation Narrative
- Media coverage has shifted to acknowledge inflation's impact, exemplified by rising bacon prices.
- Increased media attention is likely why MSNBC's ratings have dropped, as they avoid reporting negative economic news.