Americans be shopping, amirite?

If we’re headed for recession, no one told US consumers. [Bloomberg]( This is Bloomberg Opinion Today, a riffable recipe of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - [Walmart]( is winning. - [AI patience]( is thinning. - [Gen Zers]( aren’t grinning. - [Indigenous aid]( is just beginning. Crayons and Cucumbers We have officially reached the “Explain It To Me In Crayon” [phase]( of inflation: As you can see, prices go up, up and more up, yet the percentage in which they increase is more of a squiggldy-diggly situation. And right now, that squiggle is down: Jonathan Levin [says]( “the inflation genie is mostly back in its bottle.” But [most Americans]( have no concept of what the Federal Reserve does (save for crayon charts); they get their information from talk on social media or at the dinner table. And the conversation in this country is still very much inflation-coded. Kamala Harris is pushing for [a federal ban]( on grocery store price gouging. Trump is using [a box of Tic Tacs]( of all things, to explain shrinkflation to audiences at his rallies. And people are [shopping]( at Walmart like never before. The big box store’s comparable sales in the US (excluding fuel) jumped 4.2% in the most recent quarter, with over half of those sales coming from food. Andrea Felsted explained to Jonathan why the superstore is thriving in this environment: “Value for money is in Walmart’s DNA, and this is becoming increasingly important to shoppers. The retailer is also winning more upper-income households. If they are feeling the pinch, that probably isn’t great news for the broader economy.” But here’s the thing: Walmart is [freakishly good]( at what it does. It understands [trends]( and keeps [prices low](. Look no further than the $2.65 quart of [cucumber slices]( in the produce aisle: Wait a second: Pre-chopped cucumbers??? Since when were those … trendy? Well, ever since Logan Moffitt — affectionately known as “[Cucumber Guy]( — went [viral]( on TiKTok for making what the New York Times says is “the summer’s [most riffable]( recipe.” Since July 8, his cucumber salad videos have racked up over 330 million views: Although an internet frenzy over a tub of fruit that’s 95% water [doesn’t paint]( the most flattering picture of the economy[1](#footnote-1), Jonathan sees no reason to panic. “The US economy is doing fine,” he writes, “It could get thrown off track by some unforeseeable market ‘accident’ or external shock, sure, but that’s pretty much always the case.” Bonus Inflation Reading: Three is [a magical number]( for the Federal Reserve. — John Authers Afraid of AI I fear Catherine Thorbecke may have spoke too soon when [she said]( that US tech giants have “rare restraint” when launching AI tools. Because Elon Musk’s [Grok AI]( is anything but restrained. After one morning of looking at images that people claim to have generated using the model, I need serious therapy. Sure, “Baroque Obama” may solicit a few chortles. But for every humorous AI-generated image on X, there are hundreds, if not thousands more that [glorify violence]( and make a mockery out of real issues. I’ve seen [Donald Trump]( and [Kamala Harris]( do [unspeakable things](. I’ve seen Ronald McDonald smile with [a semi-automatic]( rifle in his hands. I’ve seen [Taylor Swift]( serving in the military. I have no doubt she’ll sue. “This AI model has zero filter or oversight measures in place. If you want an image of Elon Musk wearing a bomb vest in Paris with ISIS markings on it, it will make it for you. If you are planning on orchestrating a mass shooting towards a school, it will go over the specifics on how to go about it. All without filter or precautionary measures,” Christian Montessori, the director of open-source intelligence for APS, [tweeted](. In China, Catherine says it’s no better. “The public release of a handful of AI video generators from big companies and start-ups aims to show how the country is [narrowing the gap]( with the US when it comes to the technology. But they are simultaneously opening a Pandora’s Box, allowing anyone to create short clips from almost any prompt they can imagine,” she writes. [Sound]( [familiar]( We ought to be more afraid. Telltale Charts If you’re gonna believe anything anyone tells you about Gen Z, it’s best to go directly to the source. And our source here at Bloomberg Opinion is Preston Ferraiuolo. He’s been interning with us all summer long and wrote [a fantastic column]( about why Harris’ campaign needs to de-meme-ify itself. “Over half of Gen Z gets their news [every day from social media]( and bombarding my generation with humorous videos rather than issue-based content risks making the campaign itself seem like a joke,” he writes. This month, over 2,000 First Nations leaders, politicians, academics and business people gathered in a remote part of Australia’s Northern Territory for the [2024 Garma Festival](. Australia’s Indigenous communities “dot a harsh, sprawling landmass,” Andreea Papuc [writes](. “Very few Australians have or will ever visit this part of the country,” she says, but these communities — with the help of businesses and governments — must learn “how to mesh 60,000 years of cultural traditions that guide everyday life with today’s economic realities.” Further Reading An [EV war]( between China and Europe can still be avoided. — Bloomberg’s editorial board Beijing’s attempts at [yield-curve control]( could easily backfire. — Shuli Ren Only [agents of chaos]( want there to be more war in Gaza. — Marc Champion Tourism protesters get their wish: Signs of [travel fatigue]( are everywhere. — Andrea Felsted At the Brooklyn Navy Yard, [all that is old]( is new again. — Adrian Wooldridge Warren Buffett’s [Apple sale]( brings value back to quality investing. — Nir Kaissar Tesla’s [missing Cybertruck]( is a wrinkle in Musk’s EV revolution. — Liam Denning Trump and Harris should focus on [the minimum wage]( not tips. — Betsey Stevenson ICYMI Kraft Heinz wants to [climate-proof]( its ketchup. Lauren Sanchez [is friendly]( with the Pope now. Thailand is poised to get its [youngest-ever]( prime minister. People are tampering with their [weight-loss pens]( to extend doses. Two doctors and a “ketamine queen” [were charged]( with Matthew Perry’s death. Kickers Hong Kong has [giant panda babies](. Stew Leonard’s [mascots]( are going on tour. New level of [airport anger]( unlocked. You do NOT need [pumpkin spice trash bags](. Someone’s having [a sleepover]( ... Notes: Please send [Fruit Loops]( and feedback to Jessica Karl at jkarl9@bloomberg.net. [Sign up here]( and follow us on [Threads]( [TikTok]( [Twitter]( [Instagram]( and [Facebook](. [1] "Cucumber Guy" may not signal doom-times for the economy, but he miiiight spark a mass salmonella outbreak. Yesterday, the CDC [issued]( a food safety alert in 31 states. So: Don’t try those recipes at home, folks! 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