POLITICS Inflation /General Finance Insanity

You ever seen caviar as a side at a sports event before?

 

I’ve never seen anything remotely like that menu. 180 for nachos. 190 for wings. What in the hell is that? There’s something I don’t understand going on there.

 

It’s a catering menu for a VIP area at the Grand Prix of Miami. Items probably feed 3-4 people too, not that that makes prices much better, but it’s worth pointing out.

Anyway, 3 day tickets in that club/suite/VIP area probably run in the high 4 to low 5 digits. The 3 F1 races in the USA are the 3 most expensive races to attend on their calendar. In the last few years I’ve seen some comparisons on pricing that have led me to believe it would be cheaper to catch a race in Europe than Las Vegas or Miami, and maybe Austin.

 

I definitely think I could go to Budapest and spend close to or less than what I could go to the Las Vegas race for.

https://www.businessinsider.com/formula-1-races-ranked-from-least-to-most-expensive-2024-3?amp

 

And in general Miami will absolutely bleed you. I went with my wife last year and ended up with a 200 dollar bill at a Miami Beach restaurant without really doing anything wild or extravagant. It was good, it was a nice place, but it wasn't at a level of quality I couldn't get (or think I got, maybe I am just unrefined) in most coastal US cities of any size. I've had better meals for a lot less in Rhode Island for example.

Now, I was surprised by how cheap the Keys were relatively-speaking.

 

Interesting, thanks. The portions being 3-4 people makes sense. That’s expensive, but not like totally jaw dropping expensive for an exclusive/ super high end event.

 

F1 largely went unnoticed in the US for years upon years. A US Grand Prix has been on and off their calendar over the years with the vast majority of that time being off. Austin added a GP for the first time in in 2012 and attendance has been robust, though they almost lost the race a few times due to funding concerns with the state legislature.

All of that changed when the Netflix show “Drive To Survive” was released. Americans went ape shit for it and because of that F1 has taken full advantage of their wallets by adding Miami (this was their third year) and Vegas (debut race was last year).

 

Ya, that is what got my brother interested.

 

Racing by and large has been a niche sport, with its booms propped up by tobacco sponsorship. F1 will eventually return to the norm, but not before their ownership bilks the states for everything it can.

 

I have never found it appealing, but I think I am beginning to understand why many younger men do and then keep the fandom. I think one can see themselves behind the wheel. Like maybe they have what it takes.

Though realistically, these are elite performers with abnormally fast reflexes and attention and focus to minute details. It is closer to hitting a MLB pitcher or playing QB in the NFL than any driving experience any of us normies have.

 

Same reason a lot of people (including me) watch golf. I cannot imagine being a QB in the NFL, but I have made nearly every shot the pros make once in my life.

"Hell, I could do that!"

 

How much for just one rib

 

F1 racing has made me a decent amount of money. I prefer nascar because the cars are more durable and can race a bit harder but its become huge because of the Netflix series. I also think it will dwindle down in the next few years if I had to guess.

 

Reading about rents not dropping as fast as expected and this stopping the fed from cutting rates.

In my head, is Wall Street buying all of these single family homes causing rent to stay higher by inflating house prices and shrinking supply for home buyers then causing more people renting?

 

I don’t know if I’ll be able to find it again but I did read an article citing a study recently that discounted this notion, I think they were primarily just looking at cities with highest levels of corporate ownership. Phoenix, Tampa, Atlanta to name a few.

Also it can take quite a while for impacts of rate hikes to cycle through the market and it’s still very much ongoing with rental market.

Jmo, but cutting rates now would probably be a disaster.

 

You can’t yet. You can’t.

And I’m by no means gonna defend my thought. It was just an off the top of my head thought. Just thinking about how rent increases aren’t slowing as fast as they would be predicted to be.

We are just in a new economy.

 

Don’t get me wrong I’m not saying it isn’t plausible. And there are wildly different factors driving things from city to city.

We may be in a new economy but I just don’t see how it doesn’t run out of steam (relatively) soon. At some point the skyrocketing credit card debt, declines in personal savings and continued inflation are going to matter.

 

Here we go with Gamestop again.

 

NCAA 25 is going to give them a big quarter.

 

Nah, idiot day traders are just following their cult leader again.