Happy 4th everyone!
If you live in the US you might be having a barbecue today. There might be hot hogs and hamburgers, maybe even watermelon and apple pie. (Am I hungry?)
You might also have some potato chips. Recently a bag of chips got me thinking about shrinkflation. It hit me like a ton of gold bricks that shrinkflation was kicking in BIG TIME.
What’s shrinkflation?
It’s when you get a bag of chips that is..... wait for it....
1
Oz.
I mean thats like 4 chips.
Shrinkflation is an insidious monster that eats YOUR purchasing power instead of you eating it. The best place to meet shrinkflation is in our local grocery store.
You might get a 10 oz yogurt on Father’s Day, and on the Fourth of July the yogurt might be 8 oz.... for the same price the contents of the product has shrunk..... shrinkflation.
This is how this happens:
https://www.delish.com/food/news/a40818/sun-chips-shrinks-bag-sizes/
Even this bag is 1.5 oz vs. the 1 oz of MY chips:
So how do we protect ourselves from shinkflation?
One way is through owning gold. Over time gold preserves your purchasing power like no fiat currency ever can. Over your lifetime your gold will retain its value.
If you keep at least some of your savings in gold you will not only be avoiding systemic financial events like hyperinflations like we have seen in modern history in Zimbabwe and Venezuela, you will be keeping at bay the effects of good old fashioned and not so good old shrinkflation.
A goldmoney holding lets you keep your savings in gold until you are ready to spend it. Just like I did yesterday to buy... Mene 24k !
And the day before to buy these:
Or even a zombie Frappuccino!
Today, the 4th of a July is a good time to remember that in the Constitution they had little patience for things such as inflation.
Check it out:
Until we start using gold and silver on a regular basis as money again, there are only two ways to reconcile this chip inflation.
Either use your Goldmoney card,
Or
Have a great day everyone! Enjoy your shrinkflated burgers!
Sign up through this invite link and get $5 in Mene credit to put towards buying Mene 24k with fiat or crypto: http://mene.com/invite/JrT26p
Menē crafts 24 karat gold and platinum investment jewelry™ that is transparently sold by gram weight. By combining innovative technology with timeless design, Menē restores the ancient tradition of jewelry as a store of enduring value.
To find out more about what Menē 24 karat gold and platinum investment jewelry is from your fellow Steemians :
https://steemit.com/steemit/@goldmatters/what-in-the-world-is-mene24k-35-well-researched-blog-style-essays-contest-winners
Or
https://steemit.com/mene24k/@goldmatters/what-is-mene-24-karat-platinum-and-gold-jewelry-valentine-s-day-gift-winner
To find out more about what Goldmoney is from your fellow Steemians : https://steemit.com/contest/@goldmatters/what-in-the-world-s-goldmoney-winners
To sign up for a Goldmoney Holding start here: https://www.goldmoney.com/w/goldmatters
For Menē 24k investment jewelry here: http://Mene.com/invite/JrT26p
I am on a personal mission to spread the word about Goldmoney and Menē through any means necessary. Goldmoney allows individuals to empower themselves by protecting their savings by owning small or large amounts gold previously inaccessible to regular people like you and me.
All images sourced from Menē and Goldmoney.
Read more about Goldmoney: https://steemit.com/@goldmatters
What is Menē 24k gold and platinum investment jewelry?
I will let famous Steemian @coruscate explain:
I hate when bags of chips try to lie to me like that. Those shrinkflation chips have big egos...they're all puffed up thinking they're better than they really are :/ Good thing you called them out on their BS!
Yes. I'm getting a goldmoney card as SOON as I get back to the US (no point here....everyone loves shrinkflation cash in Asia...cards are hardly accepted anywhere!!!).
Lol you crack me up :)
Shrinkflation is right! I visited Walmart the other day and everything was tiny portions! I guess that's what they really mean by "roll back". They mean shrink-flation. The Creature from Jekyll Island strikes again! @ironshield
lol that's what they mean by "roll back" haha genius.
Lol that’s exactly right @ironshield :)
I despise shrinkflation ....... its like the companies are all in on some big joke and are betting each other on how little of a product they can put in a bag / container and sell it to the public.
I despise it too, but I have a slightly different take on it, I believe it is attributable to 8 plus years of quanitative easing (money printing) that is causing massive dilution to USD and other fiat currency.
Have to agree with that. Shrink-flation has hit over 2,500 different products in Great Britain since 2014 with many of those shrinkage's attributable to brexit dropping the purchasing power of the British Pound creating higher costs on imported products or ingredients for products made within Britain. The only way companies can avoid raising their prices to offset the higher costs is by reducing the size. Shrink-flation hides currency erosion. Why getting out of fiat currency and owning gold makes a whole lot of sense. It doesn't matter what national currency you hold they all erode over time.
Well said GMH
Thanks. A very good topic for a steem blog on your end. Pointing out the game of shrink-flation helps others better understand currency erosion and the importance of owning some gold. Cheers GMH.
Hi Goldmatters. We have been seeing this happening all over for the last couple of years now. From a slab of chocolate to a Coca-Cola to a bag of crisps. Even our very own All Gold Tomato sauce lost 50 ml and stayed at the same price. It is one way companies can put prices up and the non vigilant will be un the wiser.
So true! I dont’ blame the individual businesses though, this is all to do with inflationary input costs and companies trying to keep up.... imo
My favourite is when you buy a pack of rice crackers and they keep the tray the same size but only fill 75-80% of the tray space. It's like they cheat you on the contents but then they also sell you wasteful packaging that shouldn't cost as much as it does.
Right??