Black Coffee: The Price of Cheese

Group 1 - The holiday shopping season is experiencing a significant decline in temporary Christmas hiring, with retailers expected to hire only 265,000 seasonal workers, down from 442,000 in 2024, marking the lowest pace since 2012 [7] - Walmart's limited-edition "Mac Friday Box," containing 65 boxes of Kraft Mac & Cheese, sold out within seconds at a price of $19.37, which is 75% off the regular price, indicating high consumer interest in novelty items [4][5] - US tariff revenues reached a record high of over $31 billion in October, although this is insufficient to address the federal government's fiscal challenges, where 24 cents of every tax dollar goes to interest on the debt [11][14] Group 2 - Recent inflation data shows core prices increased by 3% year-over-year in September, the lowest inflation level entering the holiday shopping season since 2020, suggesting a potential easing of consumer price pressures [7] - The average American's purchasing power, when adjusted for gold, has decreased by 77% since 1998, highlighting the long-term impact of inflation on real income [20] - The performance of major asset classes year-to-date through November 30 shows gold up 61%, silver up 101%, and gold miners up 140%, indicating strong interest and investment in precious metals amidst economic uncertainty [26]