More than any other report today . . . We appreciate this note because it offers a glimpse of local real life and challenges confronting our community . . .
One pawn shop is seeing an increase in new customers as people look to sell their belongings to make a little extra cash.
Denny Russell has owned National Pawn in Kansas City, Missouri, for 22 years. He said he has a consistent customer base of about 3,500, but recently has seen more people coming into his shop who he has never seen before.
Read more via www.TonysKansasCity.com link . . .
As inflation continues to rise, people are looking for more ways to try and make ends meet.One pawn shop is seeing an increase in new customers as people look to sell their belongings to make a little extra cash.Denny Russell has owned National Pawn in Kansas City, Missouri, for 22 years.
Further reading . . .
Goldman Sachs CEO David Solomon said Monday that inflation is deeply entrenched in the economy and it's unclear whether the situation will improve later this year. "We see inflation deeply entrenched in the economy, and what's unusual about this particular period is that both demand and supply are being affected by exogenous events, namely the pandemic and the war on Ukraine," Solomon told analysts during a call to discuss second-quarter results.
White House chief economist Jared Bernstein admitted Monday that the Biden administration's use of the word "transitory" to describe soaring inflation gave Americans the false impression that price hikes would be temporary. Bernstein made the admission - amid concerns of a looming recession - as he claimed the economy was in great shape to a skeptical White House press corps.
Developing . . .