Gas prices absolutely skyrocketed following Russia’s invasion of Ukraine at the end of February. Combined with soaring inflation, the price at the pump has dealt a major blow to numerous American families. That said, after achieving more than $5.00 per gallon in many U.S. states, prices have slowly begun to fall. Still, prices remain at an all-time high. As a result, Pawn Stars boss Rick Harrison claims the expense is truly “killing people.” And it’s forcing them to turn to pawn shops like his for extra money.
Rick Harrison appeared on an episode of Fox News‘ “Fox and Friends” to speak a little about his perspective regarding U.S. inflation. He also spoke about the kinds of items and individuals that are coming into his pawn shop as a result.
The TV star said, “Most people don’t realize that 20% of the adult population do not have a bank account. They don’t have normal banking. So if they need a little extra money, this is what they have to do,” meaning people are forced to sell things they may not have considered selling in the past.
Harrison specifically said populations most affected by insane gas prices as a whole are lower-income people. These groups generally include demographics like younger adults and single moms.
While appearing on “Fox and Friends,” the Pawn Stars icon said, “all of this inflation is just devasting.”
Aside from gas prices, Rick Harrison also mentioned the drastic increase in prices at the grocery store and rent. And rent in Las Vegas, specifically. Although the cost of housing has gone through the roof nationwide.
In concluding, the longtime pawn shop owner said, “We try to do what we can do.”
‘Pawn Stars’ Frontman Says Middle America is Getting Crushed
Gas prices are hardly the only major expense wreaking havoc on American bank accounts right now. Rick Harrison previously took a break from filming his show Pawn Stars last month to speak about gas prices, but also the way inflation has affected Middle America specifically. Essentially, he said Middle America is getting crushed.
In speaking about the nation’s current economic state, Harrison said, “This is devastating because…we got 8.6% inflation or something like that…across the board, but you talk to people who have lower, middle income, and they have to drive a lot.” He said that gas prices especially affect those individuals “a lot more.”
As a business owner, the Pawn Stars star also explained how inflation has really taken a toll on small business owners.
“It’s harder and harder to stay in business,” Harrison previously explained, claiming, “we have a government that has no idea what it’s doing.”
From a business perspective though, especially in the pawning business, Harrison continues to do rather well. Of the conflicting perspectives, he told “Fox and Friends,” “It’s a real double-edged sword.”