Well, gosh, I have written postings that refer to my “relative” age. By now, dear reader, I’m sure that you have figured it out, gee….. I’m over 29!
Anyway, here’s my latest “I just don’t get it!” Why is woman’s nail polish soooooo expensive? I mean there was 99-cent nail polish in my younger days. The colors were pretty nice as I remember. (Now, don’t make any cracks about my “age” and my “memory.”) It’s a real puzzle isn’t it? I mean, there’s a huge movement to raise the minimum wage to $15.00/hour. In a way, can you blame people, after all, a bottle of nail polish is, like, $8.00 a bottle!
Is this a joke or what? After all, a person on the current minimum wage obviously works one hour (or more) to pay for a bottle of nail polish. At least at $15.00/hour one could purchase two bottles of nail polish, one bottle a fashion color, and the other color…maybe clear for those non-committal kind of days. To be clear this posting is NOT about bashing any movement to raise the minimum wage or not. It just so happens that the price of a bottle of nail polish equals about the hourly wage paid to those who earn the “minimum wage.” Of course, I’m not talking about the “designer label” bottle of nail polish, I think those go for about $25.00!!! a bottle.
I think the price of nail polish (or nail enamel, if you prefer) is a metaphor for the inflation of retail prices in general. The “free market system” of which the United States purports to engender, encourage and represent to the rest of the world, works or doesn’t work depending upon where you shop, how much money you have to spend, how much money you can reasonably afford to spend, how much competition is “allowed” among the manufacturers and suppliers of any product or commodity, etc.
Federal Reserve Postings Archive
Our Federal Reserve (the Fed) has raised its federal funds rate once already this year, there were “rumors” that the Fed would raise rates two or three times this year! Here’s my earlier postings on the federal funds rate and the Federal Reserve Bank:
- Fed Policy in Year 2016
- The Fed finally made their move!
- Eye Crosser #3: Interest Rates
- Meet the FOMC: Federal Open Market Committee
- Inflation… Deflation? “Who Ya Gonna Call?”
- When will the Federal Reserve Bank finally raise interest rates? Why should it matter?
- Eye Crosser #5: What is inflation?
- What’s the difference between the Federal (Fed) funds rate and the discount rate?
- Why Credit Card Stocks May Outperform in 2016 (information on difference between “rate on required reserves” and “rate on excess reserves”)
The debate seems to be ebbing and flowing between is it…or isn’t it raising (going up), the inflation rate that is. Is inflation rearing its ugly head or is inflation “under control?” Keeping tabs on inflation is one of the Federal Reserve’s “mandate” jobs. The other is keeping unemployment at a manageable rate like 5% (or lower) or something like that.
Getting back to the price of nail polish… I still think $8.00 is a ridiculous price to pay for something that changes your hand and foot nails maybe for the better, maybe for the “worse.” And the “look maybe lasts a couple of days before the polish enamel starts chipping. Depends upon the nail color used, in my opinion; actually, polishing one’s nails is a “fun thing” to do once in a while, however, the Gothic look is not my style.