Sky High Prices & Low Down Scams

Inflation is kicking into high gear worldwide and many are feeling the gradual and at times swift squeeze. News just broke that US inflation just hit 8.5%, but it’s more like 17% in reality. ( That’s why the HBD 20% APR makes so much sense).

Here in Japan, I recently saw a friend on Facebook complaining about 2kg of chicken jumping from ¥800 to ¥1,200 overnight. That’s a 50% increase. One thing is for sure, salaries are staying stagnant and in many cases declining. And even if it remains the same, in reality it has lost value. Now, what is a restaurant to do when prices of all their raw materials are going up but if they raise the prices too high, customers will leave. Well, what they have been doing is giving smaller portions, using cheaper products and in many cases, serving frozen microwave dinners ( well..,, many were doing that before).

Another situation I came across was a friend who was enquiring about a shipment of some teas from Jamaica. He got a quote for the shipment from his friend who runs a wholesale business. The cost to ship of course has gone sky high as there is no longer the normal post or freight option. It’s all express couriers like DHL and Fed Ex. Now, what this “friend” did, just to sell a few 📦 of tea ( boxes containing dozens of smaller boxes of tea) was to ship the product without finalizing the order. On top of that, the shipment quote was double what was stated. It was quoted to cost $300 to ship from Jamaica to Japan but ended up costing $600. Now, the purchaser is in the process of doing a return to sender.

Even the financial institutions are getting scammy ( well, they always have been but it’s more blatant now). Another situation in Jamaica , someone I know well, recently checked up on some investments she has been keeping tabs on for her sister. They were USD bonds. Now, with bonds, returns are “supposed” to be guaranteed. On checking on the investment recently , she realized $2,000 worth of interests suddenly disappeared and a financial advisor at the institution handling her account gave the excuse of the “times”. But she was not having that story and went to the manager who quickly told the advisor to put back the interest. WTF was that, now imagine how many people this happened to who didn’t even bother to question it?

Be vigilant out there, as the inflation roars, the concrete jungle gets wilder. And I haven’t even touched on the crime.