As one who has a cousin that owns a pawn shop...... I know this to be very true........
'Pawn Stars' Legend Knows It's Bad Because of What's Coming Into His Shop
Inflation in the United States has skyrocketed under President Joe Biden, and pawn shop owners are now noticing a troubling trend.
Rick Harrison, who is a pawn shop owner and longtime staple of the television show “Pawn Stars,” joined “Fox and Friends” on Monday morning to explain what he was seeing.
https://www.westernjournal.com/pawn-star...gSDtsXRH6k
Well Risk is an idiot.
US employers added more than 500,000 jobs in July and the unemployment rate dropped, defying fears that the labour market is heading for a slowdown. The jobless rate fell to 3.5% from 3.6% in June, as restaurants, bars and other firms continued to add workers.
(08-08-2022, 05:21 PM)captivating Wrote: [ -> ]Well Risk is an idiot.
US employers added more than 500,000 jobs in July and the unemployment rate dropped, defying fears that the labour market is heading for a slowdown. The jobless rate fell to 3.5% from 3.6% in June, as restaurants, bars and other firms continued to add workers.
While I wouldn't use pawn shops as a primary indicator of the economy, the addition of jobs in July is probably due to a couple of things; summer jobs by students, and people who are returning to work because inflation has eroded whatever saved money they had left. Could also be people taking 2nd jobs just to overcome the effects of inflation on their incomes. I have no numbers to back this, merely a guess. The breakdown of the type of jobs added would be helpful.
I love how he says that he and his staff “try and do what we can do” to help out. How exactly? By exploiting people's desperation by underpaying for goods and re-selling them at a profit.
He's a regular Robin Hood.
(08-08-2022, 06:46 PM)captivating Wrote: [ -> ]I love how he says that he and his staff “try and do what we can do” to help out. How exactly? By exploiting people's desperation by underpaying for goods and re-selling them at a profit.
He's a regular Robin Hood.
I'm with you there. Pawn shops are slimy.
(08-08-2022, 06:29 PM)NewJagsCity Wrote: [ -> ] (08-08-2022, 05:21 PM)captivating Wrote: [ -> ]Well Risk is an idiot.
US employers added more than 500,000 jobs in July and the unemployment rate dropped, defying fears that the labour market is heading for a slowdown. The jobless rate fell to 3.5% from 3.6% in June, as restaurants, bars and other firms continued to add workers.
While I wouldn't use pawn shops as a primary indicator of the economy, the addition of jobs in July is probably due to a couple of things; summer jobs by students, and people who are returning to work because inflation has eroded whatever saved money they had left. Could also be people taking 2nd jobs just to overcome the effects of inflation on their incomes. I have no numbers to back this, merely a guess. The breakdown of the type of jobs added would be helpful.
(08-08-2022, 06:46 PM)captivating Wrote: [ -> ]I love how he says that he and his staff “try and do what we can do” to help out. How exactly? By exploiting people's desperation by underpaying for goods and re-selling them at a profit.
He's a regular Robin Hood.
(08-08-2022, 08:17 PM)NewJagsCity Wrote: [ -> ] (08-08-2022, 06:46 PM)captivating Wrote: [ -> ]I love how he says that he and his staff “try and do what we can do” to help out. How exactly? By exploiting people's desperation by underpaying for goods and re-selling them at a profit.
He's a regular Robin Hood.
I'm with you there. Pawn shops are slimy.
There's certainly some truth to a lot of people taking on additional work. I already had a guy just leave our company after eight months of work. He gave up a $50K salary, railroad benefits and retirement, 10 vacation days with 10 sick days, health insurance, etc. to go and make $65K per year down the street from us with a trucking company as a logistics planner // load planner.
Can't say I blame him. He was willing to work full time there and part time in our department to help us out on weekends but our company doesn't allow that kind of stuff unfortunately. Probably going to lose a 2nd guy that we just hired last year in November not too shortly after we hired the other guy that just quit for the same reasons.
My wife was keeping her weekend job in addition to working full time Monday - Friday with her tech job just to pocket some more cash flow for vacations this year. It's paid off but boy does it take a toll on everybody.
Companies need to start ponying up more in specific industries, especially in the essential ones where we were responsible for running goods and products in the face of Covid and various restrictions, etc. Agreed to an extent with Pawn Shops.
However, with that said, most people should be fully aware of how that whole gambit works and what they're walking into. Especially in the year 2022 where you don't have to settle for whatever Joe Blow or Rick tells you behind the counter. You can sell your own goods for a better or more competitive price simply by advertising it online through a wide variety of options.
Facebook Market, Craigslist, Etsy, Ebay, etc. There's all kinds of new stuff coming up. Hell, there's one app now you can download, want to say it's called Wish. You set schedules to live stream and sell your goods online to a wide audience. I have seen a lot of cool deals on there. Vintage football and NASCAR shirts, vintage video games, old school silverware, etc.
Just have to know where and how to look.
(08-08-2022, 06:46 PM)captivating Wrote: [ -> ]I love how he says that he and his staff “try and do what we can do” to help out. How exactly? By exploiting people's desperation by underpaying for goods and re-selling them at a profit.
He's a regular Robin Hood.
In this case, inflation actually helps him, because he can raise his prices.