News Bites: At least drugs, clothes and cars are cheap
So I was reading this Bloomberg article about inflation, rising consumer prices, doom, gloom, “the world is ending,” etcetera. Before giving up on finding pleasant topics to discuss, a bright little sentence emerged like a phoenix: “Prices for new vehicles, clothing and prescription drugs all dropped in May.”
I had two reactions. First: Woo hoo!
Second: Aww bull crap! Show me some lower prices!
On a whim, I went over to Gap.com. First thing I saw on their home page: “New Reduced Prices. Get them while it’s hot.”
Freaky coincidence, I thought. So then I went over to Walgreens.com. I see they’re offering a 3-month supply of generic medications for only $12.99, with over 400 medications to choose from.
What in the world? Could all this be true, I wondered.
Like any good homo, I went to the Subaru webpage to see if there were any deals to score there. Sadly, Subarus haven’t gotten cheaper — at least not from the manufacturer.
My unscientific study did not leave me disappointed, however.
I have no need for new clothes, a car or prescription drugs, but I’ve been rather starved for a news bite that isn’t depressing. It was refreshing to find at least a sentence of good financial news as of late.
John: In my opinion, here’s some good news about the economy:
Clothes are definitely cheaper if you have money to buy clothes. Killer sales abound, cooked up by desperate retailers. I just bought an entire summer wardrobe at a major department store for about $300. Should I have done that? No way. But damn it was fun.
I agree with Pamela as above. If anyone has any money left after paying for food and gas, they’ll find sales galore because retailers have to keep goods moving.
I would expect many other items to begin trending downward- like furniture, household goods, etc. as the economy continues to tank…