Tuesday's Assorted Links
Gas prices, jet fuel, motor oil, prediction markets, and Texas BBQ
Hi y’all! Here are five stories from this week that contained some neat applications of economic principles or are related to teaching:
See how gas prices have changed in the county where you live [CNBC]
RyanAir’s CEO warned that Europe’s weaker airlines might not make it through the summer due to fuel price hikes [CNBC]
Auto industry experts predict a motor oil shortage is imminent due to the Iran war [CNN]
Minnesota became the first US state to ban prediction markets [NPR]
Some of Texas’s oldest barbecue joints close as meat prices skyrocket [Washington Post | Archive]
If your pay went up this year but your money doesn’t stretch as far, you’re experiencing a hidden pay cut. This week’s article breaks down real wages vs. nominal wages to explain why earning more and affording less isn’t a contradiction, and why the latest inflation report matters for your paycheck.
Your Raise Was Actually a Pay Cut
You’ve been doing everything right and somehow falling behind. The grocery run last week cost more than it used to, even though you’re buying roughly the same stuff you always buy. Your landlord just sent notice that rent’s going up the next time you renew your lease. And the raise you got earlier this year? It doesn’t quite cover it all. Your paycheck …
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Oof, 5 whammies this week
The people crave good news, too!