The Reason Groceries are So Expensive & Women Win Big at the Grammys
Feb 5, 2024
26:30
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The podcast discusses the high cost of groceries, President Biden's comments on inflation, and the dominance of women at the Grammys. They also explore Facebook's transformation to Meta, lack of change in regulating the rail industry, Taylor Swift's success, and the selection of MetLife Stadium to host the World Cup final in 2026.
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Quick takeaways
Grocery store prices have seen a significant increase of 25% over the past four years, posing a major concern for President Biden and impacting public perception of inflation control.
One year after the East Palestine train derailment, little progress has been made in improving rail safety regulations, raising concerns about the safety of transporting hazardous materials through populated areas.
Deep dives
Facebook's 20th Anniversary and Future Outlook
Facebook celebrated its 20th anniversary, reflecting on its journey and considering its future. Despite changing its company name to Meta, Facebook remains a dominant force in the social media universe. The question now is what Meta will look like in the next 20 years. Will it become a virtual reality (VR) or augmented reality (AR) company? Will it continue to be the primary app suite for everyday interactions? These are questions that only time will answer.
Grocery Store Prices and the Impact on Inflation Perception
While prices for various goods have been falling due to a decline in inflation, grocery store prices have seen a significant increase of 25% over the past four years. This rise in prices has become a major concern for President Biden, as it affects the public perception of inflation control. The cost of essential items like eggs and milk plays a significant role in shaping people's views on inflation. The current high prices are influenced by labor shortages, supply chain disruptions, and other factors beyond immediate control. Consolidation in the industry has also allowed larger chains to maintain higher prices, leading to further challenges for the administration.
Rail Safety and Lack of Progress in Regulations
One year after a Norfolk Southern freight train derailed in Ohio, causing a spill of toxic chemicals and economic losses, little progress has been made in improving rail safety regulations. In fact, derailments by major US railroads have increased by 13% in the first 10 months of 2023. A rail safety bill, proposed one month after the East Palestine incident, aims to increase oversight of railways and penalties for safety violations. However, the bill has faced opposition from rail companies, who have lobbied against its core provisions. The lack of substantial change raises concerns about the safety of transporting hazardous materials through populated areas.
Episode 250: Happy Monday! Neal and Toby are back and are discussing President Biden's comments on inflation at the grocery store and the stats behind the historic prices in the egg and milk aisle. Plus, it's been one year since the East Palestine train derailment and which women dominated the stage at the Grammys. The guys share their winners of the weekend, including the World Cup coming to New Jersey and Joe Rogan inks a new deal with Spotify. And finally what we are watching for this week.