Highly relevant!
"Cheapflation Cycles" by Kunal Sangani.
"We document a new source of fluctuations in inflation inequality. When the cost of upstream inputs rises, varieties within a product category tend to have similar absolute price increases. However, the same absolute price increase constitutes a larger percentage change for low-price products, resulting in excess inflation at the low end (“cheapflation”). Since low-income households tend to buy lower-priced varieties, the inflation rates they face are disproportionately sensitive to upstream costs. Using data on food-at-home purchases, we show that this mechanism generates cycles in inflation inequality and excessive volatility in inflation for low-income households relative to high-income households. This channel parsimoniously accounts for observed fluctuations in inflation inequality over time, including surges in cheapflation and inflation inequality during both the Great Recession and the 2021–2023 post-pandemic inflation. Official statistics mask these within-category differences in inflation and thus understate the differences in inflation experienced by low- and high-income households by 70–90 percent. We provide evidence that this mechanism applies to a range of consumption categories beyond food at home. The same mechanism also leads to systematic differences in inflation across cities and import price inflation across countries in response to nationwide and global cost shocks."
https://t.co/qqwFCF0sj3
WARREN BUFFETT IS WAITING FOR DOWNSIDE.
He now sits on $350,000,000,000 in cash.
He's only moved to cash on this scale twice before in his life.
1. 1999, before the dot-com bust.
2. 2007, before the Great Recession.
Both times, leading stocks crashed 80-90%.
In business, success is built inch by inch. Small wins, daily effort, relentless perseverance — they all compound. Keep moving forward, no matter how tough it gets. One inch at a time, greatness is made. 💼✨
💡 “L’État détient le monopole de la contrainte légitime”, disait Max Weber.
C’est lui – et lui seul – qui peut imposer les lois, rendre la justice, lever l’impôt… et maintenir l’ordre.
👉 Le pouvoir souverain dans toute sa force. #État#Sociologie#Pouvoir
🚔 Human Security-Oriented Policing isn’t about control — it’s about care.
It builds safety through inclusion, dignity, opportunity & trust.
👮♂️ Police become protectors of rights and partners in peace, not just law enforcers.
#HumanSecurity#PolicingWithPurpose#PeaceBuilding
.@KamalaHarris and @Tim_Walz believe in an America where "We the People" includes everyone. Because that's the only way this American experiment works. And despite what our politics might suggest, I think most Americans understand that.
REMA & @Rwanda_Edu are conducting training sessions on sound management & handling of chemical wastes
The training was organised for science lecturers, teachers & lab managers using chemicals & tools generating hazardous wastes in secondary schools & higher learning institutions