According to a VICE report , at an aquarium in Japan, zookeepers are buying their animals cheaper food to cut costs as the cost of running the aquarium has risen by about 20 percent since the beginning of the year. Instead of being offered the usual fatty aji (Japanese horse mackerel), penguins and otters have been feeding on saba—a slimy, less expensive protein. Some penguins are not happy with the change and spit the new fish out. I found this news hilarious and sad at the same time. I personally found both aji and saba delicious so I couldn’t quite empathize with the penguins. But this inflation is global and very tangible. I got sticker shock the other day getting a taco trio for $18. (The tacos were street-style and tiny. I was still half hungry after eating them.)
Japan currently has the highest government debt to GDP ratio in the world. America’s 108% debt to GDP ratio is small potatoes compared to Japan’s 236%. The lack of fiscal discipline of the governments around the world seems to be backfiring. The Japanese Yen has collapsed 15% in the past four months. Coupled with the global supply chain issues, the Ukraine war and the labor shortage, we are seeing price increases across the board. Interestingly, I observed that many restaurants in the SF bay area are not very busy. I thought the restaurants would be super packed post pandemic. But they are not. I don’t know if this is because the prices are getting insane, the recession is happening, restaurants still have trouble hiring people or I am going to the wrong restaurants. We probably would find out if we are in a stagflation in a few months. I do hope Penguins get to eat what they want to eat and we keep the basic necessities like food and gas affordable.