Fact Pack! Thanksgiving Edition
By Hightower Las Vegas and RCG Economics on November 26, 2024
A correction to last week’s edition of Fact Pack is in order, thanks to a faithful reader who reached out. We shared that in 2020, on average, around 1 in 140 people who were infected with COVID-19 died — but incorrectly stated that those deaths amounted to 0.7% of the global population.
The World Health Organization (WHO) reported on its website as of 11/20/2024 that 1.8 million people died from COVID in 2020 — far fewer than 0.7%, which would have been around 55 million people.
While we’re here, we’d also like to note that “died from complications related to COVID” would have been a better way to frame the numbers, as some who died had pre-existing health conditions that made them more susceptible.
Football, Black Friday and other Thanksgiving Frenzies
Plymouth Colony settlers and their Wampanoag tribe neighbors had little idea when they gathered in 1621 to celebrate the harvest that future fall assemblies of families and friends would be marked by commercially produced foods, overeating and sports wagering — followed the next day by dieting and Christmas shopping. A few stats to unpack:
- The NFL’s three Thanksgiving Day games attracted an average of 34.1 million viewers last year.
- Americans spent more than $9.8 billion shopping on Black Friday.
- Americans will spend an estimated $1.2 billion on 46 million Thanksgiving turkeys this year.
- “Other” beat pumpkin as the most popular pie choice in 2024 in an Adobe survey:
- Support for our comment about overeating:
Source: Wallet Hub as of 2024
Travel:
Source: Wallet Hub as of 2024
Domestic Turkey Prices
This year, turkey prices are averaging about $2.08 per pound, according to Finance Buzz, which compiled data from grocery stores across the U.S. A 15-pound turkey, which serves about 10 people, will cost holiday hosts approximately $31. More facts from Finance Buzz:
- Turkey prices in 2024 are down about 12% from last year.
As of 11/19/24
- At $52.85, Hawaii has the highest average turkey prices of all the states. Next worst is California at $39.85.
- The best turkey prices in the nation can be found in Louisiana ($19.80) and Oklahoma ($19.75)
Source: Finance Buzz as of November 2024
Brown Friday
Black Friday is widely considered the official beginning of the holiday shopping season so we were amused when we saw a Realtor.com write-up on “Brown Friday” — a name inspired by the apparent spike in post-Thanksgiving calls to vendors who can fix broken garbage disposals or unclog pipes.
The story cites several plumbing company employees who say the Friday following Thanksgiving is twice as busy as any other day of the year. Things they say not to throw in the garbage disposal because fibrous foods can interfere with the blades and damage the motor:
- Turkey bones & necks
- Vegetable peels (potato skins, carrot peels, onion peels)
- Corn cobs
- Egg shells
Things not to pour down the drain or flush down the toilet:
- Grease & oils (which tend to harden when they hit a cold pipe)
- Wet wipes
- Dental floss
We wish you (and your plumbing) a crisis-free Thanksgiving.
On the Horizon
Mike PeQueen: Even though this is a holiday-shortened week, Wednesday’s release of the PCE index (the Fed’s favorite inflation gauge) could cause early indigestion for investors if it comes in hot.
