HOW INFLATION WORKS IN THE REAL WORLD

There is a great little restaurant in the Wildwood Crest, just before you go over the bridge into Cape May called Two Mile Crab House. It sits on the back bay.

Photos - Two Mile Landing Restaurants & Marina Wildwood Crest NJ - Restaurants - Restaurant Passion

People go there for great food and beautiful sunsets. It’s always packed. Even in the off-season we had to wait 25 minutes for a table on Saturday.

Wildwood Crest - Two Mile Landing/Crab House @ sunset tonight! : r/newjersey

Before we went, I checked their menu online. Below is a picture of the menu from their website. It hasn’t been updated since last October when we ate there on the last day of the season. I’m not a big seafood fan, so I got the 2 Mile Stuffed Chicken last year, and I ordered it again on Saturday.

The price today is $28. Except, last year you got a house salad, roll & butter, vegetable of the day, and choice of potato as part of the price.

Now, if you want a salad, it will cost you $5. If you want a basket of 4 rolls with butter, it will cost you $4. Garlic mash potatoes and zucchini came with the plate.

The increase in price from $26 to $28 seems reasonable, but is 7.7%. In reality, if you wanted the same amount of food as last year, it would be $5 for salad and $1 for a roll. That would make the total $34, a 30% increase over last year.

This is the shrinkflation which we are all experiencing, in restaurants, grocery stores, and in our everyday lives.

Joe Biden I DID THAT! Decal Set of Two (2) 3" | morganstreetdesign

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Two if by sea.
Two if by sea.

Good on you for at least getting out.

James
James

I am in tough times going with Sea,at least you got out and had a nice time!

Prepare for the worst while living for today!

comment image

Smile while we can and enjoy the ride!

Svarga Loka
Svarga Loka

Your mother still alive and nearby, plus Avalon across the table, that incredible sunset, life itself: seems to me that it was worth $35 to celebrate. Glad you had a good time.

hardscrabble farmer
hardscrabble farmer

We remodeled my grandparents bathroom in 2007 and when we pulled out the medicine cabinet there was an old copy of the NY Daily News from December 1947. There was an advertisement for New Years celebration at the Waldorf Astoria, dinner and dancing in the Peacock Alley with music by Xavier Cugat and his orchestra. The menu was about fifteen different items like Dover Sole and Steamship Round, oysters on the half shell and Banana Foster, plus champagne. The price for a couple was- if I recall correctly-$15, enough to buy a half a Waldorf Salad today.

Gryf
Gryf

Different times, different dollars. Inflation has been going on for a long time but not forever. I saw a seaside resort building in France with prices set in tile on the wall, maybe a hundred years ago and sort of permanent. Still there but the prices, in francs, are meaningless.

Anonymous
Anonymous

yeah, and a hundred years ago those were gold francs. 20 francs was a coin between 1/5 and 1/6 of an ounce.

Svarga Loka
Svarga Loka

And the Deutschmark was pegged to gold from 1871-1914. 1 Deutschmark=358 milligrams of gold.

Americans are not used to currencies disappearing as much as Germans are. Germany has had different currencies a number of times in the last 150 years: Deutschmark (1871-1918), “Papiermark” of Weimar Republic 1918-1924 (without gold standard, hyperinflation in 1923), Reichsmark (1924-1948), Deutsche Mark (1948-1999), Euro (1999-current).

My parents sold their house in Germany 2008. It was built in 1912 for 12,000 Deutschmark (in gold: 358 milligrams x 12,000=4296 grams=151.5 ounces). In 2008, they sold it for 140,000 Euros. At that time, gold cost approximately 20 Euros per gram. 140,000:20=7000 grams=246 ounces

I thought that was interesting, that a house that is 100 years old fetches more gold than what it cost when it was built.

Svarga Loka
Svarga Loka

I had to look up if the Waldorf salad was named after the hotel (or vice versa?)

Turns out that, yes, it was. It was introduced at the Waldorf hotel in 1893, along with Eggs Benedict, my husband’s favorite breakfast food. I also learned that the original Waldorf hotel was at the current site of the Empire State building and was razed in the early 20th century and rebuilt in its current location.

I stayed at the Waldorf-Astoria in 2009 with credit card points. Was cool, golden faucets and all. Made us feel all Rockefellerish.

John L.
John L.

I bought four 1 pound cans of pastuerized Blue Crab claw meat for making crab cakes for 9-12 dollars a pound depending on the season up until 15 months ago. The price then went up monthly until 3 months ago I bought 4 pounds for 22 dollars a pound. I have 3 cans left in fridge. One pound makes 4 Maryland crabcakes. Out of disgust I have not checked the price since.

Leah
Leah

Happy belated birthday to your mom. Hoping that her memories will be about the day she spent with her wonderful son and daughter in law . Biden can go fk himself.

Lager
Lager

Dani, I love the tequila sunrise / sunset photo you took with the marina in the foreground.
~ That one’s a keeper. Makes a great screen saver / background jpg, in my book.
Bravo.

Avalon
Avalon

Hi Lager, I can’t take the credit for these, He used online photos for this write-up. I have a few pics from before dinner but they aren’t nearly as spectacular as that pic above.

BL
BL

I will pay a premium for excellent food. The rub for me is high dollar mediocre cuisine. Good seafood is pricey and worth it. Best wishes to your mom Admin.

Anonymous
Anonymous

always been that way.
rising prices in paper are a sign of the paper being tampered with, but i repeat myself.

Iska Waran
Iska Waran

Ran into the supermarket today for one item. I noticed they wanted $9.99 for a pound of sliced turkey. $10 a pound for turkey! WTF?

Llpoh
Llpoh

Stuff is climbing fast. Oz just put up interest rates by .25%. Should have never been low to begin with – just a kick the can down the road trick. We almost never eat out. For $28 US a head I can get 3 pounds of prime porterhouse here. Veggies from the garden, and better beer on tap, of almost anything you can imagine. And service is better: taps are open, help yourself, and you wanted that rare, right?, is how we do it here.

Hope you had a great time, Admin.

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