Sri Lank in blackout as power grid hit by cascading failure
https://economynext.com/sri-lank-in-blackout-as-power-grid-hit-by-cascading-failure-143218/
Sri Lanka suffered a blackout as Saturday evening as the state-run Ceylon Electricity Board grid was hit by a cascading power failure.
With hydro plants running flat out, a outage of the line tends to create a big imbalance in the demand and supply, leading to tripping of more lines and generators.
Sri Lanka last suffered a cascading failure in December 2021, due to the failure of the same transmission line.
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Owning a home.
Buying groceries.
Driving to work.
Paying insurance.
Even your morning coffee.
Nearly every major household expense costs dramatically more than it did just a few years ago.
Over the last 7 years:
• Coffee: +127%
• Home prices: +60%
• Auto insurance: +51%
• Gasoline: +49%
• Electricity: +44%
• Shelter: +35%
• Groceries: +33%
And that's before paying for healthcare, transportation, or eating out.
This is why so many families feel like they're falling behind even when they get a raise.
The biggest financial problem for millions of Americans is that everything is going up at the same time, while the government keeps showing a 2% inflation target.
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