Pawn Stars boss and operator of the World Famous Gold and Silver Pawn Shop in Las Vegas Rick Harrison knows a thing or two about business. Right now, inflation issues are causing problems for many businesses and many more people in Middle America.
Harrison joined Fox and Friends on Monday and took a chance to address how rising prices have affected his ability to stay in business.
“It’s a real double-edged sword,” Harrison said. “Basically you have like small business owners and a lot of them got so much PPP money and now the ERC money is coming in to all of them. They’re getting tons of money, which is driving up the price of collectibles and everything else like that, but Middle America, it’s just… crushing them.”
Harrison said rising inflation is causing devasting effects for lower-income families trying to stay afloat during unprecedented economic woes across the county.
“This is devastating because they talk about… 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, this affects them a lot more,” Harrison said.
He said the inflation rate for the country might be at 8%, but for the average American he said, “it’s like 25% inflation.” The inflation rate currently sits at a 40-year high. Many Americans are grappling with sky-high prices for groceries and gas all over the country.
“It’s harder and harder to stay in business, and we have a government that has no idea what it’s doing,” Harrison said.
Otherwise Rick Harrison is Having a Great Year
The country is facing hard times through inflation, and Harrison is certainly feeling the effects as a business owner. But his personal life has seen wonderful events this year.
Just last month, Harrison had the honor of walking his daughter down the aisle at her wedding. He marked the occasion on his Instagram page and captioned the photo, “Today I had the pleasure of walking my daughter down the aisle. #prouddad.”
Not only that, but Harrison also got to see his youngest son graduate high school. “Such a joyous weekend. My youngest is a high school graduate and on his way to college in the fall,” he wrote in another celebratory post. “Congratulations Jake! Your hard work paid off. Today you are one step closer to a bright new future. I love you son.”
And the good times keep on rolling this year for Harrison. His second daughter graduated college and had her 21st birthday on the same day this year. “Extremely proud dad here,” Harrison wrote. “My little girl becomes 21 AND an LSU graduate today! I’m so impressed of your accomplishments @sarina2175 Know that you can achieve anything in life and you are so loved.”