+ augustus Posted July 11 Share Posted July 11 And this number excludes food and energy - again lol. Hey if you exclude the iceberg the Titanic’s first trip went pretty well too! Auto and home insurance rates are skyrocketing by high double digits all over the country. That's excluded too. pubic_assistance 1 Link to comment Share on other sites More sharing options...
EZEtoGRU Posted July 11 Author Share Posted July 11 Some people just hate it when there is positive economic news showing the country is going in the right direction. They just want doom and gloom. Who knows what their motivations are for feeling this way. Fast food restaurants are falling over each other to offer new lower-priced items on their "value menu". Retailers are offering great new deals to get people back into stores. I know...it's just horrible 😂😂😂! pubic_assistance, Beancounter and Luv2play 1 1 1 Link to comment Share on other sites More sharing options...
+ augustus Posted July 11 Share Posted July 11 (edited) 32 minutes ago, EZEtoGRU said: Fast food restaurants are falling over each other to offer new lower-priced items on their "value menu". Retailers are offering great new deals to get people back into stores. I know...it's just horrible 😂😂😂! Yeah, value meals for 30 days only. Retailers are closing left and right because of the terrible inflation that has left the majority of the country strapped with no disposable income left after paying necessities, if they can even pay for the necessities. Things are just wonderful! 🤣 Edited July 11 by augustus pubic_assistance 1 Link to comment Share on other sites More sharing options...
+ augustus Posted July 11 Share Posted July 11 As prices have increased rapidly since the spring of 2021, the cheerleaders have continuously sung the same chorus. "Inflation is getting under control! Just look at the stock market if you don't believe me!". Meanwhile the lower waged workers and middle class has been crushed by ever increasing prices. May you be out on margin when the stock market tanks so you will get a taste of what average consumers have suffered over the past few years. + Travis69 1 Link to comment Share on other sites More sharing options...
Jim_n_NYC Posted July 11 Share Posted July 11 (edited) I hope interest rates stay up (or at least don't drop like a stone). I'm enjoying getting good interest on my savings. PS: I just read this morning that Powell said rates won't be going back to the lows of before. Edited July 12 by Jim_n_NYC + augustus 1 Link to comment Share on other sites More sharing options...
BSR Posted July 12 Share Posted July 12 9 hours ago, EZEtoGRU said: Some people just hate it when there is positive economic news showing the country is going in the right direction. They just want doom and gloom. Who knows what their motivations are for feeling this way. Fast food restaurants are falling over each other to offer new lower-priced items on their "value menu". Retailers are offering great new deals to get people back into stores. I know...it's just horrible 😂😂😂! Inflation has caused prices to jump 25% in just 3 years. People speak negatively about the economy not because they want doom and gloom, but because they're getting crushed by price increases. 27% of Americans report that they are occasionally skipping meals because money is so tight. When their financial situation has gotten that dire, people aren't going to celebrate a few discounts. pubic_assistance and + augustus 1 1 Link to comment Share on other sites More sharing options...
+ FrankR Posted July 14 Share Posted July 14 I just read in Fortune magazine analysis that indicate inflation would spike again due to China tariffs proposed. + Travis69 1 Link to comment Share on other sites More sharing options...
mike carey Posted July 24 Share Posted July 24 I recently saw an article in the NY Post, quoting another in the WSJ. It reported an increase over five years in the price of female sanitary products. Both articles referred to increases of 36 and 41 percent, but the Post's article referred to the prices as 'nearly doubling'. Why am I not surprised that their sub-editors are innumerate? Not to dismiss the significance of the price increase in sanitary products, or any of the other prices that have increased over the past five years, but a doubling of prices, or even the almost 50% increase in these products over five years says exactly nothing about price rises this month or over the last year. Since the topic of this thread is Inflation continues to fall, it's well to remember that it does continue to trend down despite an occasional monthly increase. Whether that will continue is anyone's guess. Regardless, saying that inflation is going down (disinflation) is different to prices going down (deflation). Once most prices go up with inflation they don't go down. Manufacturers can control their rate of production, suppliers can withhold inventory to prevent that. There are exceptions, like perishable items such as fresh food, goods where a producer reduces their costs and wants to increase market share, or fire sales, but mostly a period of inflation ends with new price baselines, and price relativities may have changed. EZEtoGRU, + jeezopete and + FrankR 3 Link to comment Share on other sites More sharing options...
+ augustus Posted July 24 Share Posted July 24 (edited) 11 hours ago, mike carey said: Both articles referred to increases of 36 and 41 percent, but the Post's article referred to the prices as 'nearly doubling'. Why am I not surprised that their sub-editors are innumerate? The headline was incorrect, but the Post article stated the correct numbers from the WSJ. In any case, this is another example of the rapid inflation of the last 4 years and the official numbers provided by the government are bogus. Inflation is much worse than the official numbers of 15% the last 3 years. No one has gotten a 40% wage increase in the last 5 years to keep up with this kind of inflation. Charities are asking for donations of female hygiene products because women and teenagers can't afford them. They are also getting UTI's from using the same tampons. Edited July 24 by augustus Link to comment Share on other sites More sharing options...
EZEtoGRU Posted July 26 Author Share Posted July 26 On 7/24/2024 at 2:56 PM, augustus said: The headline was incorrect, but the Post article stated the correct numbers from the WSJ. In any case, this is another example of the rapid inflation of the last 4 years and the official numbers provided by the government are bogus. Inflation is much worse than the official numbers of 15% the last 3 years. No one has gotten a 40% wage increase in the last 5 years to keep up with this kind of inflation. Charities are asking for donations of female hygiene products because women and teenagers can't afford them. They are also getting UTI's from using the same tampons. Yet another positive inflation report came out today. The market is cheering the news. Whilst the 2% inflation target hasn’t been hit yet, it is getting closer. I now expect rate cuts before the end of the year…maybe in September. Inflation is inching closer toward the Fed’s 2% target | CNN Business WWW.CNN.COM Yet another favorable piece of economic data shows that price hikes are slowing and that... pubic_assistance, + jeezopete and + Travis69 1 1 1 Link to comment Share on other sites More sharing options...
+ augustus Posted July 26 Share Posted July 26 1 hour ago, EZEtoGRU said: Yet another positive inflation report came out today. You forgot to mention that this report, the PCE index, EXCLUDES food and energy. A very inaccurate gauge of what is truly happening! 1 hour ago, EZEtoGRU said: The market is cheering the news. Whilst the 2% inflation target hasn’t been hit yet, it is getting closer. Homeowners insurance is now surging 20-40% all over the country, even in states that don't have hurricanes or flooding or earthquakes. It's all over the news. Conveniently, this isn't accounted for in the inflation indexes. Things are not good. pubic_assistance 1 Link to comment Share on other sites More sharing options...
EZEtoGRU Posted July 26 Author Share Posted July 26 Well the Dow loved today’s inflation report by soaring 654 points. So yes…the crowd did go wild. + Travis69, + jeezopete and Luv2play 1 1 1 Link to comment Share on other sites More sharing options...
MikePDNA51 Posted August 2 Share Posted August 2 This is price gouging! I do not think this is inflation at all! A great example is parking in Pasadena, CA. Last year I used to rent a parking spot in old town pasadena for $100. The price this month is $200, that is a 200% increase at all parking garages in 12 months. All parking garages have changed from $100 or $110 per month to $200 a month. These are three parking companies. Parking garages have also stopped allowing overnight parking. I have noticed this trend with a lot of consumer items. parking is an easy business. Prices are increasing as certain people and companies are trying to raise stock prices. Link to comment Share on other sites More sharing options...
+ augustus Posted August 5 Share Posted August 5 On 7/26/2024 at 4:26 PM, EZEtoGRU said: Well the Dow loved today’s inflation report by soaring 654 points. So yes…the crowd did go wild. Yeah...the crowd is going wild. Just after you posted this everything started falling apart. I've been warning for months that the economy is very unstable. pubic_assistance 1 Link to comment Share on other sites More sharing options...
EZEtoGRU Posted August 12 Author Share Posted August 12 More inflation news to be released on Wednesday. Here's an interesting take on how consumers are refusing to pay today's higher prices and that is forcing some price decreases. The Free Market at work. Americans' refusal to keep paying higher prices may be dealing a final blow to US inflation spike WWW.YAHOO.COM The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Consumers aren't cutting back enough to... + Vegas_Millennial 1 Link to comment Share on other sites More sharing options...
pubic_assistance Posted August 12 Share Posted August 12 On 7/26/2024 at 11:46 AM, EZEtoGRU said: Yet another positive inflation report came out today. The market is cheering the news. Whilst the 2% inflation target hasn’t been hit yet, it is getting closer. I now expect rate cuts before the end of the year…maybe in September. Inflation is inching closer toward the Fed’s 2% target | CNN Business WWW.CNN.COM Yet another favorable piece of economic data shows that price hikes are slowing and that... It's always shocking to me that some people seem to think that when they report inflation shrinking to 2%, that prices went back to where they were. To be clear @EZEtoGRU prices are STILL 30% higher on average and they CONTINUE to climb. Now by a "mere" 2% but that isn't GOOD NEWS when you're creeping toward a 40% increase on some very basic items. Nobody's salary is going up in line with the increased daily cost of living. + Travis69, EZEtoGRU, + Vegas_Millennial and 2 others 2 3 Link to comment Share on other sites More sharing options...
EZEtoGRU Posted August 12 Author Share Posted August 12 (edited) lots of wages have gone up substantially in the last 4 years. Huge gains in the minimum wage in multiple states. Fast food workers making record wages even without changes in the official minimum wage in some states. Some Burger King restaurants in Michigan are paying $18/hour to flip burgers. They weren't getting paid anything close to that prior to COVID. UAW secured a record pay increase in the recently signed contract. Edited August 12 by Kevin Slater snakiness edited DWsoccer, + augustus, pubic_assistance and 1 other 1 1 1 1 Link to comment Share on other sites More sharing options...
pubic_assistance Posted August 12 Share Posted August 12 (edited) 1 hour ago, EZEtoGRU said: Some Burger King restaurants in Michigan are paying $18/hour to flip burgers. Which has given great incentive for multiple fast food vendors to switch to automated production systems. Previously fast food was a great starting point for a teenager in their first job. Now there's going to BE no jobs as robots are becoming a more reasonable alternative to huge labor overhead costs. Over all costs are increasing at an accelerated rate because of the constant printing of new money. The dollar collapsing is NOT "good news" to anyone but the people at the top of the top 1%. Edited August 12 by pubic_assistance + augustus 1 Link to comment Share on other sites More sharing options...
Kevin Slater Posted August 12 Share Posted August 12 Gents, this is the Finance Forum, not politics. Several posts have already been hidden, and I don't want to have to lock this thread. If you want to refute someone, simply post your data and let that do the talking for you. Better yet, just stick to personal finance free of any political agenda. Admin Beancounter 1 Link to comment Share on other sites More sharing options...
+ augustus Posted August 13 Share Posted August 13 (edited) 6 hours ago, EZEtoGRU said: UAW secured a record pay increase in the recently signed contract. And now the automakers are laying off thousands of UAW workers because the price increases on new cars caused by this record pay increase are ridiculous. 90K for a Dodge Ram.....ha ha ha ha ha. Edited August 13 by augustus Link to comment Share on other sites More sharing options...
+ augustus Posted August 13 Share Posted August 13 (edited) 5 hours ago, pubic_assistance said: Which has given great incentive for multiple fast food vendors to switch to automated production systems. Previously fast food was a great starting point for a teenager in their first job. Now there's going to BE no jobs as robots are becoming a more reasonable alternative to huge labor overhead costs. Over all costs are increasing at an accelerated rate because of the constant printing of new money. The dollar collapsing is NOT "good news" to anyone but the people at the top of the top 1%. Quite correct. Inflation is not dead and the price increases of the past several years has devastated the lower and middle classes. Even the upper classes! Property taxes and auto/home insurance rates are now soaring at a double-digit pace. Jobs are being shed as companies try to automate and wages have not kept up with the REAL inflation rate, resulting in less purchasing power to buy goods and services. Edited August 13 by augustus pubic_assistance 1 Link to comment Share on other sites More sharing options...
EZEtoGRU Posted August 13 Author Share Posted August 13 For the post above...wash, rinse, dry, repeat. Regarding the point of jobs being shed due to automation...why do I keep seeing "Now Hiring" signs on most businesses all around Michigan. Businesses still need workers and can't find them. Eventually, they will have to automate where they can if we don't have enough workers to fill all the job openings. Beancounter and + augustus 1 1 Link to comment Share on other sites More sharing options...
+ augustus Posted August 13 Share Posted August 13 6 hours ago, EZEtoGRU said: For the post above...wash, rinse, dry, repeat. Regarding the point of jobs being shed due to automation...why do I keep seeing "Now Hiring" signs on most businesses all around Michigan. Businesses still need workers and can't find them. Eventually, they will have to automate where they can if we don't have enough workers to fill all the job openings. yeah, UAW people will get in long lines for those fast-food and other retail jobs. Higher costs from unionization are the reason the Detroit Three are announcing layoffs. Ford announced 1,400 layoffs in March, following layoffs in 2023. Stellantis is having layoffs of 2500 right now. And a lot more are coming. UAW membership fell from 1.5 million in 1979 to 370,000 in 2023. And EV's need 40% LESS workers to produce those cars! So there will barely be any UAW workers left. pubic_assistance 1 Link to comment Share on other sites More sharing options...
EZEtoGRU Posted August 14 Author Share Posted August 14 Meanwhile, yet another inflation report released today showing inflation continues to cool to 2.9% as of the end of July. This almost cements the likelihood for a September Fed rate cut. + augustus and + Travis69 1 1 Link to comment Share on other sites More sharing options...
pubic_assistance Posted August 14 Share Posted August 14 36 minutes ago, EZEtoGRU said: This almost cements the likelihood for a September Fed rate cut. Nothing would make me happier, as I have commercial mortgages that re-set every five years and I refinanced them all during the plunge in rates mid-2020. I'd they'd re-set at today's rates my payments would more than double. Link to comment Share on other sites More sharing options...
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