The Daily Valet. - 4/12/22, Tuesday
✔️ Inflation Hurts
Tuesday, April 12th Edition
If I say “don’t think of a flying pig” what do you think of?
Cory Ohlendorf , Editor ⋯ @coryohlendorf
Today’s edition is presented by
Today’s Big Story
Inflation Hurts
It’s rising and likely not going anywhere anytime soon. But try not to think about it.
Inflation takes center stage this week as new Federal Reserve data indicates a record-high fear over surging prices. Put another way, neither businesses nor everyday people feel very good about their financial situations at the current moment.
Consumers now see inflation hitting 6.6% over the next year, according to the New York Fed’s survey in March, released Monday. That’s a 10% increase in the median expectation just over the past month and the highest level in a series that dates back to 2013.
And the Consumer Price Index (CPI) report being issued this morning is expected to show annual inflation surging to 8.4% in March—the highest rate since December 1981.
Consumers see the fastest increases coming from rent (10.2%), which accounts for about one-third of the CPI. Medical care, food and gasoline are expected to jump by nearly 10% as well, according to CNBC.
Economists have pointed to three root causes for this recent inflation: Pandemic-related supply shortages, higher than expected demand (thanks to rising wages and increased savings) and Russia’s war against Ukraine. The Wall Street Journal says “inflationary pressures from Covid and war will surely go away eventually … but self-fulfilling consumer and business expectations of inflation are rising.”
What does that mean? The Hustle explains the perplexing phenomenon like this: “Inflationary psychology” is when consumers speed up purchases or seek higher salaries because they believe prices will rise in the future and businesses raise prices in anticipation that costs will go up in the future. When this happens, it becomes something of a vicious circle and inflation keeps churning on.
↦ FYI: The Fed raised interest rates in March by 25 basis points, but all indications are that a larger, 50-basis-point, hike is on the table for its next meeting in May.
A Massive Storm Threatens the U.S.
It’s bringing a blizzard, fire and tornadoes
A major storm system is producing a widespread and dangerous severe weather outbreak across the Lower 48 over the next several days, as well as wildfire conditions and a probable blizzard across the Northern Plains.
Predictions made by AccuWeather last week about a significant multi-day severe weather outbreak appeared to be on target as storms were already firing up across parts of the south-central region on Monday.
The storms will hit some of the same areas that have been hammered by tornadoes and high winds on a weekly basis over the past month and will visit some Midwestern areas that have not yet experienced violent thunderstorms this spring. Today, nearly 40 million are under the risk for severe storms along a 1,000 mile stretch from southern Minnesota to the Gulf Coast. (Tomorrow, that number goes up to 70 million).
The National Weather Service Storm Prediction Center has issued a level 3 out of 5 “enhanced risk” for severe weather Tuesday and Wednesday, citing the potential for a few strong tornadoes. Oddly, it's unclear how many storms will form and when. Meterologists told the Washington Post that “blue skies could prevail during the day, before a squall line develops at night and sweeps eastward.”
↦ FYI: On Monday, Portland recorded its first snow fall in April, ever.
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A Bright Idea
Scientists develop solar panels that can generate electricity at night
A team of Stanford engineers just announced they've developed a solar cell for solar panels that can generate electricity at night. The innovation answers a common question: How can we generate “solar” energy when the sun isn't around?
While standard solar panels provide electricity during the day, this device incorporates a thermoelectric generator, which can pull electricity from the small difference in temperature between the ambient air and the solar cell itself, according to the study published this week in the journal Applied Physics Letters.
The research comes at a moment when the number of solar jobs and residential installations are rising. It wasn't until recently that solar energy declined in price and became much more affordable.
“In the face of global supply uncertainty, we must ramp up clean energy production and eliminate our reliance on hostile nations for our energy needs,” the president of Solar Energy Industries Association told CNBC.
↦ Dig Deeper: Talking about climate change is often depressing. But does it have to be? BuzzFeed News investigates.
The Year’s Big Smartwatch Plans
We might see Google’s first branded smartwatch, a rugged Apple Watch and more
Do you wear a smart watch? Most days, you'll find me wearing Apple Watch, which seems to be more and more ubiquitous these days. According to a Pew Research Report, 1 in 5 Americans now wear a smartwatch or fitness tracker daily.
Cnet says it's shaping up to be a big year for smartwatches. Apple is likely adding a new rugged model to its smartwatch lineup this year, known as the Explorer Edition. (There's also the Apple Watch Series 8, which is expected to debut this fall in typical Apple fashion.)
Meanwhile, Samsung's Galaxy Watch is one of the best smartwatches available for Android device owners, and rumors suggest a new Galaxy Watch 5 could be coming this year. (But The Verge hopes it won't get any bigger ... “You can't keep solving poor battery life with bigger watches.”)
And Google is rumored to launch its first Pixel Watch in the spring or fall. Fitbit, which Google owns, could also release its first watch running on Wear OS. And why not? The global smart watch market is expected to grow to more than $60 billion this year.
↦ FYI: When the Apple Watch launched in 2015, it had 3,000 apps available to download. Today, there are more than 20,000—44 of which are built into the wearable.
In Other News
Other Things We’re Talking About Today
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A Different Kind of Green Investment
Last week to invest in the autonomous lawn mower that is disrupting a $100 billion market
There is a lot of grass in America—from parks to golf courses to university campuses. In fact, there are somewhere around 40 million acres of lawn in the U.S., according to a NASA estimate derived from satellite imaging, and a large portion of this grass has to be cut one way or another. Meet Graze, the company building electric, fully autonomous mowers for commercial landscaping companies.
The lawn-cutting business is a maintenance and labor-intensive industry, currently valued at around $100 billion. Because labor costs are so high, landscaping companies are looking for more cost-effective solutions. And that means Graze's autonomous mowing vehicles are primed to solve a serious problem.
It turns out, mowing for commercial landscapers is one of the lowest margin services offered. Graze's 100% electric robotic mowers increase margins by five times while cutting both labor and fuel costs. Currently, Graze has already received $32,220,000 in pre-orders, which means you want to get in on this investment opportunity before their campaign raise ends on April 15th.
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Dodging Raindrops in Style
Cinder Cone all-over print jacket,$140 by Nike ACG
Spring is in full effect and there's no better reminder than the scattered rain showers always looming overhead. Some people would rather use an umbrella because they don't want to come off looking to tech-ish with their rain jacket, but we're ready to embrace that look. You can look cool and stay dry, you just need to find the right outerwear piece. From tried-and-true classics to more performance-based jackets, we've rounded up the best options to buy right now.
Come Along jacket, $170 by Houdini Sportswear
Packable anorak, $199 by Todd Snyder x L.L. Bean
Brunswick rain jacket, $158 by J.Crew
↦ Want more? 20 of the best rain jackets
Today’s Deals
Expires 4/12
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↦ Want More? See all 38 sales
Morning Motto
Stay hydrated.
↦ Follow: @successfulmaster
That’s all for today...
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