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From housing to food to health care, everything is getting more expensive while wages stay mostly stagnant. It’s part of a phenomenon called inflation and it has a direct impact on each of us.As the old cliché goes, ‘a dollar doesn’t get you what it used to.’ That saying helps explain the role inflation plays in the economy.Inflation happens when general prices go up, relative to supply. It causes a noticeable and continuous decline in buying power.It’s easy to confuse inflation with general market forces. Like, when kale prices go up because of fad-driven demand or when sweater prices increase just before winter.A small amount of inflation is supposed to help the economy by encouraging spending and investment. But too much of it could send the economy into a spiral. For that reason, the Federal Reserve takes different actions meant to keep inflation rates in check.Inflation isn’t an obscure technical financial term found in college textbooks. It directly affects everyone who participates in the economy.Let’s say a person decided to save in 1970 for use 50 years in the future. Back then, then money could buy about 17 dozen eggs, 28 gallons of gas, or one pair of Wrangler Jeans.But in 2020, the saved money doesn’t go as far.According to the Bureau of Labor Statistics, in 2020 can buy about seven dozen eggs, four gallons of gas, or a half-pair of Wranglers.Inflation gets a bad rap. Everyone would like to buy nice things for cheap. But economists say that’s just not how it works. When prices fall, in general, incomes also have to fall.Think of it as a cycle: a consumer buys from a business. If prices are lower, the business makes less money. That means wages have to drop, giving workers less money to spend as consumers. 1762

HONOLULU (AP) — Hurricane Lane soaked Hawaii's Big Island on Thursday, dumping nearly 20 inches of rain in nearly 24 hours as residents stocked up on supplies and tried to protect their homes ahead of the state's first hurricane since 1992.The National Weather Service warned that Lane will get "perilously close" to Hawaii and that some areas could see up to 30 inches (about 80 centimeters) before the system passes.Lane was not projected to make direct hit on the islands, but officials warned that even a lesser blow could do significant harm.PHOTOS: Hawaii deals with flooding as hurricane approaches"You do not need a direct strike to have major impacts from a hurricane this strong," said Steve Goldstein, a meteorologist at the National Oceanic and Atmospheric Administration in Washington.The center of the Category 3 storm was predicted to move close to or over portions of the main islands later Thursday or Friday, bringing dangerous surf of 20 feet (6 meters) and a storm surge of up to 4 feet (1 meter), forecasters said. As of 11 a.m., the hurricane was about 275 miles (460 kilometers) south of Honolulu.Lane "shifted a little closer to the islands, unfortunately," meteorologist Melissa Dye said. "Big Island and Maui are in the thick of it now."As Lane moved closer to the islands, it was expected to weaken more rapidly and turn toward the west. But it was unknown exactly when that would happen, forecasters said.Pablo Akira Beimler, who lives on the coast in Honokaa on the Big Island, said the road to Hilo was cut off due to landslides."Rain has been nonstop for the last half hour or so and winds are just starting to pick up," Beimler said as he posted videos of trees being blown sideways. "Our usually quiet stream is raging right now."He said staying put is about the only choice he has."We essentially have one way in and out of our towns so sheltering in place is the priority," Beimler said in a Twitter message.Two campers were reported trapped overnight in Waipio Valley, along the Big Island's northern coast. The campers called authorities Wednesday, but emergency crews could not mount a rescue operation."We can't go in because the roads — there's a river of water down there," said Hawaii County Managing Director Wil Okabe. Landslides had closed some roads.In addition, there were reports of boulders falling into a park in Hilo on the east side of the island, Okabe said.Shelters opened Wednesday on the Big Island and on the islands of Maui, Molokai and Lanai. Officials urged those needing the Molokai shelter to get there soon because of concerns that the main highway on the island's south coast could become impassable.On the island of Oahu, shelters were scheduled to open Thursday. Aid agencies were also working to help Hawaii's sizeable homeless population, many of whom live near beaches and streams that could flood.Because there's not enough shelter space statewide, Hawaii Emergency Management Agency Administrator Tom Travis urged people who were not in flood zones to stay home.On the island of Lanai, it was eerily dead still and gray, said Nick Palumbo II, who owns Lanai Surf School and Safari."It's relatively like a regular day," he said by telephone. "I got friends calling me telling me there's surf at the beach, and they're actually going surfing right now."He won't be joining them and instead is staying home with his four children since there's no school.Palumbo is prepared for the storm after boarding up one large window and stocking up on snack food. He's also got a freezer full of fish he's caught on dives and deer he's hunted on the island to last them through the storm."I don't have a generator, but I figure as things thaw out, if the electricity goes, we'll just get cooking," he said.The central Pacific gets fewer hurricanes than other regions, with about only four or five named storms a year. Hawaii rarely gets hit. The last major storm to hit was Iniki in 1992. Others have come close in recent years.Napua Puaoi of Wailuku, Maui, said she and her husband planned on boarding up their windows and sliding doors. She was 12 at the time of Hurricane Iniki."When it did happen, I just remember pandemonium. It was all-out craziness," she said.Unlike Florida or Texas, where residents can get in their cars and drive hundreds of miles to safety, people in Hawaii are confined to the islands. They have to make sure they have enough supplies to outlast power outages and other potential emergencies.The Federal Emergency Management Agency moved several barges packed with food, water, generators and other supplies into the region ahead of Hurricane Hector, which skirted past the islands more than a week ago, FEMA Administrator Brock Long said. 4739

GNC, the retail chain that specializes in vitamin and dietary supplements, has filed for bankruptcy and says it will close up to 1,200 stores.The 85-year-old company is more than billion in debt and was already facing declining sales at brick-and-mortar locations prior to the pandemic. GNC said re-financing plans were in the works earlier this year, but COVID-19 prevented the company from carrying them out.The company says it expects to emerge from bankruptcy in the fall."The Chapter 11 process will allow us to accelerate these strategies and invest in the appropriate areas to evolve in the future, while improving our capital structure and balance sheet," GNC said in a letter to shoppers.According to CNN, GNC reported losses of 0 million in the first quarter after 30 percent of its stores in the U.S. and Canada were forced to close. The company lost million in that same time span in 2019. 919

Hillary Clinton said Tuesday that President Donald Trump staged a "political rally" at Supreme Court Justice Brett Kavanaugh's ceremonial swearing-in that "further undermined the image and integrity of the court.""What was done last night in the White House was a political rally. It further undermined the image and integrity of the court," Clinton, Trump's Democratic 2016 election opponent, told CNN's Christiane Amanpour in an exclusive interview."And that troubles me greatly. It saddens me. Because our judicial system has been viewed as one of the main pillars of our constitutional government. So I don't know how people are going to react to it. I think, given our divides, it will pretty much fall predictably between those who are for and those who are against," Clinton said. 795

GREENCASTLE, Ind. — Several dozen students interrupted an event featuring actress Jenna Fischer at DePauw University Tuesday to protests recent racial incidents on and near campus.Many of them held signs with things claiming they are "afraid for their lives" after recent events. Fischer, star of the sicoms "The Office" and "Splitting Up Together" was at the university to discuss her new book, "The Actor's Life: A Survivor's Guide."University Spokesman Ken Owen, who was moderating the lecture with Fischer, said about 15 minutes into the program a group of students got up and began interrupting the event whistling, shouting and saying they were afraid for their safety on campus because of the recent racial incidents. Last week, a hateful message was found written in a bathroom at the university. The message, which read " All ******* must die -KKK," was written on a bathroom wall of the Inn at DePauw, a public building on campus. Another anti-Semitic and homophobic messages were also found. The video above was captured during the Tuesday evening protests by Shannon Samson. Another event being investigated by the university involves a hateful slur written in rocks at the DePauw nature park, which is owned by the university. Owen said there was a meeting with the school president Tuesday over the events and that have happened up until that point and they expect more meetings in the future. DePauw University issued the following statement on social media after the event.  1573

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