Opeyemi Alabi
Stories (2)
Filter by community
Tweeting into the Future: Exploring Twitter's Transition to X
Twitter, the virtual entertainment goliath that has been around for more than 10 years, has as of late gone through a few significant changes that make certain to influence its great many clients around the world.
By Opeyemi Alabi2 years ago in Journal
Why is everything getting Expensive
"On my way to the grocery store mentally preparing myself... for the sticker shock. Here we are. Wish me luck. Got my diapers. It might be something else for you. For me, diapers are really where I notice inflation the most. One of the things that's interesting about this particular period of inflation that we're in is this is a worldwide phenomenon. My question is about inflation. What is the real cause? Is it just COVID or do we have others to blame? Thank you. Diapers in the US, food and fuel with education in Nigeria, and home prices in India. What caused all this inflation? And is there something we can do about it? If you watch cable news in the US, you will see one explanation for inflation that gets a lot of attention. "Still too much money, chasing too few goods." Too much money chasing too few goods. Say I have a car dealership. Today, we're in a global pandemic. Factories are shutting down periodically and I'm just not able to keep as many cars on my lap. My inventory is low. But at the same time, I have customers willing to spend money on my cars. My inventory starts to dwindle, and now there are more customers than there are cars. So I can just increase the price. Too much money chasing too few goods. Economists like this guy, Larry Summers he's been sounding the alarm bell about this kind of inflation from the beginning. "I am much more worried that we'll have inflation." "This is the... least responsible macroeconomic policies we've had in the last 40 years." He is talking about those pandemic relief checks. Before we can figure out if Larry Summers is right we need to take a closer look at exactly how inflation is measured in the first place. Once a month, the US Bureau of Labor Statistics puts together what it calls a market basket. These data are specific to the US but you can find similar numbers around the world.
By Opeyemi Alabi2 years ago in Journal
