The Bureau of Labor Statistics highlights some alarming inflation numbers today [Link Here] that are unfortunately, not unexpected…. unless you are a liberally trained economist (most of them) and so the results are surprisingly “unexpected”. But the actual JoeBama-nomic policy is even worse because wages increased less than inflation increased, so real wages (actual purchasing power) decreased. That spells trouble, Trouble.
Middle-class wage earners already know this problem; you are seeing it at the gas pumps and at the grocery store. Fuel prices are rapidly increasing and the amount of inflation in the ‘at home’ food industry (grocery store) is even more concerning.
Let me first walk through the data and then provide some forward analysis with tips to help you offset what is about to hit.
First, it is important to know that BLS price survey data lags actual prices as felt today. The prices you are seeing today/tommorrow at the store and gas pump will not show up in the rolled-up data for over a month…. So the data released today is unfortunately far behind what you are witnessing in real time.
Gas prices rose last month by 9.1%. The year-over-year inflation number is an alarming 2.6 percent last month. Keep in mind that retail grocery prices are not in the inflation number, and they generally follow the same price index as fuel; so it is safe to say monthly grocery store price increases are in the 8 to 10 percent range.
Part of the reason gas and food track together is fuel and energy prices are the #2 cost within the food sector. With packaging prices increasing; with fuel prices and distribution costs increasing; with energy prices increasing; all costs associated with food production, processing, delivery, warehousing and distribution, all end up in the final price at the grocery store.
This problem with inflation is only going to get worse as the FED gets more involved (that’s coming), because interest rates are already disconnected from the economic costs associated with business investment. [Note: the Fed said last year that it would hold its benchmark interest rate near zero, for some time, even if inflation were to rise above its preferred rate.] JoeBama is returning us to a “service driven economy”, and that is a problem for inflation.
President Trump’s MAGAnomic (USA First) increased wages and lowered prices (deflation) {Go Deep} but hurt Wall Street. JoeBama’s globalist policies lower U.S. wages and increase prices (inflation) but increase Wall Street (via multinationals).
Gas prices are going to keep rising because JoeBama is shutting down U.S. energy sources, blocking pipelines and using regulation to stall energy development (including refineries). We will be back to energy dependence soon. This process will continue driving up food prices which is really bad for the middle-class.
In the longer term, the impact of wages purchasing less means middle-class housing prices will drop as people struggle to afford mortgages. However, the Wall Street gains will keep the upper tier real estate market less impacted. You can see how the wealth gap is directly attributed to policy.
Trump decreased the wealth gap with policies that disproportionately (in a good way) helped the middle-class and blue-collar worker by increasing wages. JoeBama expands the wealth gap with policies that disproportionately (in a bad way) hurt the middle-class and blue-collar worker by decreasing real wages and increasing prices. Under JoeBama-nomics the rich get richer and the poor get more poor.
If you know that fuel and food prices are going to increase, you can take action now to plan out your home budget in an effort to offset or cope with the inflation. Example: buy bulk items that can last longer as ingredients. You can also save money by making your own laundry detergent, shop sales, cut coupons and be proactive in preparation for a period of large price increases at the supermarket. Use your freezer and eat out less.
Employment is going to be an issue again. While the current employment picture is good, it will not last into 2022. Make a safety net now (somehow) and start thinking about your longer term expenses and how you can take action now in preparation.
I am not a doomsayer… but I can see when supply chains start to fill up because overall demand begins to stall. We are exactly at that point.
We have been invaded by a hostile enemy that resides in our nation’s capitol. These policies are a deliberate attempt to punish the American people.
How much must we endure?
The American people will endure what they must, until they tire of it and decide to do something more about it.
How long that will take or what line will be crossed to get to that point, your guess is as good as mine.
All the left needs to do to be re-elected is to keep the flow of illegal aliens flowing and keep the fraud of letting them vote up.
There is little need of them for the votes as the Dominion debacle has shown.
No. They are used to wage economic warfare by taking livelihoods away from Americans and bankrupting local and State governments with the demands on the welfare system among other things.
This would all seem to be another facet of the Cloward and Piven Strategy.
No need for additional voters for Democrats. They have enough Pre-Printed Ballots…..
Correct and agree.
Unless we conquer voting machine fraud, ballot harvesting, vote ranking, dead people voting, illegals voting and the usual fraud, DEMS will rule forever. The imbecile is putting a committee in place to “reform” the U.S. Supreme Court – in other words justify stacking the court for perpetual power. They want to swamp us with new DEM voters and lock us in through the courts with their destructive globalist agenda.
“Do something more about it” isn’t likely to happen since we can’t count on the Military and without them a Civil War depends on certain slaughter of more of us than of them. They are viscious, evil and practiced. We aren’t.
Alot more of us than them, it’s organizing the masses that takes quite a bit of coordination. doing that without getting yourself shot is the issue….you need a coordinated response to what is occurring in DC and the major cities, that is the challenge…..
You say “organizing the masses that takes quite a bit of coordination.”
I believe they would shut down the internet, shut down cell phones, etc. How would you communicate to organize?
Unlikely maybe, but I would not discount the possibility that God may intervene in the face of seemingly insurmountable odds.
Ask yourself why God would help a nation that has turned it’s back on Him ?
By allowing child sacrifice in the form of abortion in the millions is fairly high up on the evil list that God absolutely abhors.
This one thing , beyond the other multiples of sin, has guaranteed God’s wrath being poured out on our heads.
Until we as a nation grapple with this evil sin by stopping it cold and repenting of our ways , we will be forever condemned to whatever evil God allows to overtake us.
This nation is currently under Divine Discipline.
He HAS intervened…in our godless sinful depravity wherein far too many rejected God and His Son Jesus.
It isn’t the first time in world history that He has done this. It may not be the last.
But will we learn?
The nation may very well be under judgment. Well deserved in any case, as God is just and patient beyond mortal comprehension.
Some may heed this and live yet.
Their children may take the lesson to heart and teach it to their grandchildren.
So on and so forth until eventually much of the lesson has been lost to history and not passed on to posterity as much was disregarded and forgotten.
People forget the lessons of the past at their own peril. There is nothing new under the sun.
So very true. Something will happen when enough people are convinced in this country that MAGA is needed and globalism is not. Until then we all suffer greatly. People in this country need to WAKE UP! God help us.
You have not seen anything yet. Lets put it this way, We may be Seeing it, but nothing as it will be when we start “Feeling” it. We are presently in a Housing bubble and a Stock Market bubble. There is a reason why they call it “bubble’.
I have been watching across the Country how people have been buying huge houses, 3000 sq. ft, paying 300,000-500,000 for them and the older houses are going for over 200,000 in heavily populated suburban areas, overnight. I just can’t imagine that these people are going to be able to cope with dwindling outsourced outsourced jobs, tightening economy and inflation. I’m guessing a lot of new home owners are going to be really hurting over the next few years.
IMO, you are guessing correctly.
I can see present home equity as well as the stock market drop 50% over the next several years.
Sometimes Biden tells the truth. Biden said he was going to take everything back to pre-Trump. Just ask yourself the value of houses and the value of the stock market pre-Trump?
I don’t know how much this ties in… who is actually buying these houses?
https://voxday.blogspot.com/2021/04/mailvox-why-you-cant-buy-houses.html
Pension Funds with your money.
Unfortunately you are correct and depending where you live, the average price is much higher! But the capitalist will take advantage of this unfortunate situation and the current occupants will become renters.
Don’t forget the hostile enemy invasion on our southern border. The enemy in Washington, D.C. will force us, the U.S. taxpayer, to support the southern invaders with housing, food, healthcare, education, etc., while at the same time taking jobs from American citizens by working illegally.
Do not worry. That is what nations have armies for, to protected them from invasions. Well, that’s why other nations have an army anyway, just not ours. Ours is to get into stupid endless wars in the middle east, and in Ukraine if they can manage that, and conduct Wrong Thinker Purges from its own ranks.
Governor of Nebraska just said NO to the Biden WH regarding their request to take children separated from their ‘guide’ while crossing the southern border. It’s a start, EVERY state should deny Biden any relief whatsoever!
You imply they are asking the States . Obama never asked. They TOLD the States and there was no such thing as refusal, at least that I heard about. Suddenly there were floods of big black buses on the freeway and floods of foreign kids at school Monday morning. Catholic Church Charities performed then., and I assume will do the same now. They performed in the 50’s, found adoptive parents for all the kids, then destroyed the records, leaving thousands of adoptees with ZERO chance of ever uniting with their birth family.
Catholic Church Charities reap monetary rewards for doing this dis-service to humanity. If you go to the online sites where adoptees discuss their searches for family, it will break your heart. Imagine growing up , walking down the street and wondering if that could be your Mother coming toward you, because she has red hair and so do you. Imagine needing family health history when you fill out forms in the doctors’ office.
Biden WH did request assistance from NE yesterday…..Rickett’s response is on his website….the answer was NO…take a hike!
iowa governor reynolds told him last week to buzz off,it is joe’s problem not ours.
KUDOs to the governor from iowa
When I was working community nursing a few years ago, poor rural families would be begging Catholic Charities for some help and they were as miserly as they come. Now they seem to have open wallets to the illegals!
Two years ago I was unable to make rent and buy food, too. Catholic Charities came to my aid with a load of groceries, a quantity of cash and a supply of “sundries.”
It was a one- time effort but there was no need for additional assistance because business improved for the company where I work after the Chinese Flu struck.
This year, when my stimulus check came I remembered their kindness.
I am not a Catholic but their charity impressed me enough that criticizing their efforts would be difficult for me, no matter the recipient.
They get PAID well to process refugees. In fact they presented lawsuits when Trump was President to revive the Obama refugee invasion. Trump refused and they were forced to close many of their processing offices. There was another group that made huge amounts of money off Obama’s invasion policy. I think it was a Lutheran Charity Regardless, it was always about the MONEY for them.
Look up Kino Border initiative. Jesuits who enable the very thing you covered in your post. I emailed the director with many questions — he had no desire to answer, and I concluded, no heart for children.
I know of horror stories involving Catholic Charities of Maine concerning the foster care system in the State.
And, that was just *one* State with a relatively small population. I would not imagine these practices were only limited to Maine.
If the illegals are hungry, let the bastards go home.
If they are hungry why are they so fat?
and well dressed in top name brands (Nike)
Best avatar on this board. BAR NONE.
?
Because there are plenty of tacos from where they’re coming from
https://usawatchdog.com/must-watch-absolute-interference-trailer-from-mike-lindell-4-13-2021/ I think things will begin to pop in AUGUST. THIS SHORT VIDEO WAS JUST RELEASED WITH GEN FLYNN.
I hope you’re right but I’ve about lost all hope that this country will get back to normal, i.c. before Biden.
Sunflower, this nation wasn’t “normal” under Obama. This was why President Trump ran and was elected.
President Trump was resisted by the Deep State, Corporate Media, and the rest of the Liberal infiltrated institutions his entire term in office; and the 2020 election was stolen.
In short, if you think the USA was “normal” before Biden*, you have sick and twisted view of what is “normal.”
I take offense at your opinion that my views are “sick and twisted.” Maybe it was a poor choice of wording on my part but I’ll bet a few folks out there know what I meant. No, our country hasn’t been normal in quite some time. And I know exactly why PDJT ran for office and was elected. And during the 4 years of a Trump administration, I certainly felt much better about my life than I do now. I could sleep at night and I felt much safer overall than I’d had in years under previous administration. That is what I was referring to when I spoke of “normal”.
Geez, is this what TCTH is coming too? Insulting our own? I don’t often post, but I’ll wager I’ve been
reading this site much long than y0u.
You’ll also grow a thicker-skin. Losing hope is not part of the formula. Fighting back is.
In short, if you think the USA was “normal” before Biden*, you have sick and twisted view of what is “normal.”
—–
You’re outta line, buddy. (1) “Before Biden” means during Trump. (2) You assigned meaning to Sunflower without ever asking what he meant by “normal”. You owe an apology to Sunflower.
The country has not been ‘normal’ since Clinton took office right after reagan…..they flipped the script on us during his term in office…..actually FDR started this whole thing with social security….Nixon taking us off the gold standard didn’t help us either……lots of mistakes out there.
Let me offer a small correction.
Bush 41 took office right after Reagan. He then proceeded to nullify nearly every achievement of his glorious predecessor!
The country began a toboggan ride into the abyss which even Trump could not reverse.
Ronald Reagan “cubed” could not deliver us from the the consequences brought about by three decades of maladministration.
thanks for calling that out! Forgot about Bush 41 and his starting of a ‘global takeover’ of the country…need to get the right people in office and right the ship….it’s going to take a LONG TIME to do that though!
we need to get rid of the FED! And crush the chamber of commerce, they are behind alot of very bad decisions which directly hurt the middle class of the nation.
I don’t think our pain is even close to leveling out with these bozos in charge.
1965-1982………….are you prepared?
Did you know there are people who work for Bailout fund that Harris was promoting who are connected to Clintons? It’s the wives of old Clinton Money bundlers and Employees…. LMAO. Seems They are laundering money through the BLM bailout funds as well, no wonder Obama is always stirring up the BS.
Thanks for absolutely nothing Xiden.
https://usawatchdog.com/must-watch-absolute-interference-trailer-from-mike-lindell-4-13-2021/ Help is on the way.
Watch General Flynn with Mike Lindell.
Thank you for the link jol.
Trust The Plan (TM) expired back in January.
It sure did.
Democrat policies hard at work……
Jimmy Carter days, here we come.
Here in suburban NY we noticed an increase in gas and heating oil prices within a week of the inauguration of the Fake president and they have been going up ever since. The nearest “discount” gas station near me went from $2.11/ gallon to $2.75 right away and the owner is trying to hold that price as a “loss leader.” Other gas stations are up to $3.25/gal. and will be going higher because summer is coming.
All food and grocery items began going up at the end of January and continue to climb. Real estate prices are at an all time high as liberal Demo-Commies continue to move up in droves to get out of the NY City shithole. My town which is purple in a Red GOP county will be deep Blue by the end of the year. We have 2 Demo-commies running for school board and 3 running for Town board in November. Property taxes are already out of sight but will now go higher.
Every single day it seems we are being hit with another gut punch. I just hope all the a-holes that I know that voted for Joe Demento realize why the prices are going up.
I am going to start putting stickies on the local gas pumps- “Aren’t you glad you voted for Biden?”
Seneca. Just over in Ontari here Federal Liberal government just added 8.8 cents per liter carbon tax on fuel. Heartless self serving Beauracrats that have lost touch with reality.
Typical Canadians just can’t get enough of the Liberal policies.
Dispiriting to say the least.
DD
Our gas was $1.99/gal. in September, is now $3.46.
what’s your 10-20?
He STOLE the election. Trump won in a landslide. It is a false narrative to blame voters and then we’ll never get anything but a puppet again if we don’t fight the steal.
I agree, the legal voters had nothing to do with Biden’s theft.
Legal voters elected , Nancy Pelosi and Kaine Biden Bloomberg Booker Buttigieg Clinton Gabbard Gillibrand Kerry Bullock Buttigieg Castro Cuomo Harris Sanders Obama.
“the legal voters had nothing to do with Biden’s theft”????
There is a money bundler for the Dems who is connected to Harris Buttigieg, Clintons, etc…. whose wife works at the bailout fund non profit that bails outs blm thugs. Sounds like a Money laundromat to me.
Biden is doing an excellent job of making democrat voters look like morons.
Lets not pretend nobody voted for Biden.
You are 100% right! Here’s my take: PJDT was an “IN YOUR FACE” kind of guy. Liberals in politics, in education, in the media HATE “IN YOUR FACE” kind of people. MAGA people thought it was funny and refreshing but even more importantly, judged the man by what he accomplished. Libs couldn’t get past “I hate him!”
Hubris, wounded pride, perceived insult (a cardinal sin! “Don’t you know how smart and important I am???!!!”)
They’re not that smart nor are they that important but they will do anything to win. And they don’t care if they take the whole country down to justify their egos.
Not in New York, where Seneca lives. Unfortunately it’s a blue state thanks to NYC.
Gas $2.99 at some pumps in Cleveland. Food prices up and shelves kind of empty in places.
That ‘stickies’ idea is actually a good one…. 🙂
And not only stickies. My BIL showed me a dollar bill he had gotten in change in our small town. On the back, in huge letters made with a thick black Sharpie, it said TRUMP WON. I’ve added this tactic to my post it note campaign.
Do the same in the grocery store: put stickies on cans 1-2 rows from the front, or place them in magazines at check out–they r liberal rags anyway…..just two thoughts.
Seneca
Here in washington state I have seen some gas as high as $3.55 a gallon.
Once summer hits I would not be surprised to see it go over $4.00.
I guess it’s just another way to try and keep us trapped in our homes.
Sick b######s!!
Retired Magistrate here: Please get out of debt. Do whatever you can to either pay off your mortgage or pay down your mortgage. Keep that older car you are driving, but make sure you keep it in good running order. Change the oil, keep the tire pressure where it should be for your particular tires, get a tune up and make those repairs now. With warm weather coming get your air conditioner checked and make sure your filter is clean. On hot days, shut the drapes which will help cool the house. For those of you without air conditioning, get an attic fan; they can really cool off a house in the evening.
Most of us already have enough stuff. However, I do want to support small businesses in this area so whenever possible I do make small purchases to give as gifts. Shop thrift stores, except for Goodwill, which is a racket. When grocery stores have a sale, stock up. In the Central Ohio area grocery store sales are already becoming a thing of the past. I used to buy good wheat bread for $1.99, now it is $2.50. Canned goods have increased along with hamburger, steak, chicken and pork chops.
Be prepared for what is coming. I think that gas prices will be around $5.00 per gallon before the end of the year. In California even higher. Utility bills will also rise, so do what you can to prepare your house to save energy.
If you have conservative neighbors, get together for potlucks or cookouts. Everyone can chip in and Summer is a great time to socialize. Get back to your church, if your church isn’t open yet, find one that is. There is nothing better than Christian fellowship.
Anything which has to shipped, rail, or trucked has to go up in price to cover costs. It all gets down to cost of fuel. AOC will soon be eating green leaves as well as everyone else.
birthdays & Christmas this year we had a new rule , “make it or regift “presents where possible .. and stockpile during this year . Regifting like drawn pix or photos of family . Regifting wrong sized things or duplicates . The making was fun & all did it . and saved $$$$
Also buy yourself a bread machine and make your own..I buy my son who live on his own prepper type things for Christmas. Like a small solar power charger bank.. Collapasable solar powered lanterns..things you would need in an emergency.. I even bought him a fire blanket for this past christmas to have around the house..(I did buy other more exciting things) but I try to give useful stuff like that since young kids today dont; think of those things.
Sounds like you lived thru the ‘carter years’ also…..yep, all sound advice indeed…..take what the magistrate says to the bank….it will get bad, I survived Carter….what a disaster!
Marcia thank you for your constant sound advice.
I have one disagreement, why pay off your home, it is cheap rent. Even if paid off ,there are still the property taxes. So no take the extra money you are trying to pay down the home with and buy something tangible that can be used as money.
Scott, totally agree. Paying off a mortgage would be a mistake. I still owe 81K on my house and I am not about to throw that away when possibly a loaf of bread could cost 25 bucks some day soon.
Hmm, the median mortgage in the US is about $1600/mo, and most average around $200-300/mo for property taxes (yes, I know, New Jersey).
Figure another $100/mo or so for insurance. So about 75% of a homeowner’s housing cash flow goes to the actual mortgage…say $1000-1200/mo.
We own our house and cars outright. The cash flow benefit of keeping that money instead of sending it to the bank is enormous.
Dave Ramsey has it right. If you’ve got a safety net and your high-interest debt is clean, pay off that house. We refinanced which cut 5 years off our mortgage. That’s like $60K+ we saved…which went to savings and other investments not the bank.
It can make sense to keep a low interest mortgage if the rate is super-low. Everyone’s situation is different. But I can’t begin to tell you how much pressure we feel knowing our home (insurance + property taxes) is only running us $300/mo…and it’s three payments, not 12.
Agree. Agree. Agree. Paid off everything years ago and never carry cc debt either.
Us too. We have so much more freedom.
If you rent, youre paying for some other persons asset, and you are also paying the property taxes. The only plus in renting is that after you meet the contract requirement, you get your deposit back without interest, and you can bail with a months notice if the area becomes depressed.
Im not sure where youre living, but wherever Ive lived, owning a home with a low interest mortgage, is less expensive than renting.
Average rent for 1000 sf 3 bedroom dumpy apartment in 37110 $800. My mortgage payment for 4 br 1800 sf =657 because i bought it last year before COVID and thanks to Trumps policies I could afford it.
Yep, I could easily rent my house for $2500/mo++ here, the mortgage was only $1600/mo inc. taxes and insurance.
Liquidity!
I agree, provided you have a low (<4%) fixed interest rate in your mortgage contract, and your investments are earning significantly more. Anyone still sitting on an ARM (I cannot imagine why) or similarly indexed product should get out of that ASAP.
I paid off my home in 2008…do you know how much money has been saved from then till now? LOTS
It hasn’t even been 100 days yet!
Every day brings another Orwellian nightmare. It’s so easy to destroy. It’s tougher to build back up.
He is determined to destroy our country as he implements his Build Back Better, global, one world government nonsense! The west continues to commit suicide. The U.S. is just playing catch up. President Trump was just a pause, hence the stolen election to get us back on track and at warp speed.
Ben Garrison you are the best!
We love him!!!!
Done all of that. We also switched out all our incandescent light bulbs for LED bulbs. I absolutely love them which surprised me. They were cheap. 24 bulbs (60w equivalent) for $22.
We have to get a new roof – wow!!! Expensive, but it has to be done. Current is over 25 years old and insurance won’t cover. We limped through one year but I put down my foot with hubby and we are using the last stimulus and our tax refund to cover about 75%, the rest will come out of savings. Contractor is giving a 5% discount for cash in hand for the job.
We have to get our gasoline stash for the up coming hurricane season, We used the last of last year’s during the freeze when we had the rolling outages. It was nice to have a little heat and amenities the generator provided.
Stocked up on meat, need some more canned veggies which I will get the next few visits to the grocery store.
Frozen bread dough is cheap (appx $3 for 5 loaves) which are nice to have in the freezer when shelves have been cleaned out during panic buying when a hurricane enters the gulf. I also make bread from scratch but time isn’t always on our side when prepping. Frozen hamburger patties are another inexpensive item to keep in the freezer.
Powder milk to cook with if needed. Butane burners are inexpensive and so is the butane (we don’t have natural gas in out subdivision).
Charcole has gone up too, we have a small propane grill we can use but need to get a couple bags of charcole and make sure our propane tanks are full.
Yes to so much of this! Get out of as much debt as possible. And stop feeding the machine. Get out of the system. Who is going to pay for all of those illegals if the tax-payer is not feeding the beast that brings and keeps them here?
Thanks for that nice post. I am going to sell my home and downsize further. I have tons of food storage (high quality canned and packaged goods) that I can’t take with me. I can’t haul it across the country (I could, but it would cost more to haul it all than to replace it). I started asking around. Neighbors don’t seem to need it, but I found a food pantry in the neighboring town. My neighbor told me that people line up there. That’s where I have decided to take thousands of dollars of food. It makes me so angry that the Democrats don’t give a rat’s ass about ordinary Americans and that they have to line up at a food pantry. But, this is when “the church” can act like the church, so I’m all in, and am thankful I can.
It is difficult to replace what you are going to donate.
I love your idea and understand the “economics” BUT the reality is that you may not be able to restock yourself, depending where you go.
Consider checking out the situation on the ground in your new location before you donate it all.
We are retired and have been able to do a lot of what you recommend. Our home is paid for and we have no cc debt. But we really don’t need to buy anything at our age. I worry about my kids.
I worry about my grandkids.
In addition, consider growing your own food! You can use pots/containers. Your local nursery can assist if you are unfamiliar with this process and many knowledgable people have online info as well. Sharing fresh produce with friends & family is a great idea.
There are also websites for “preppers.” The purpose of visiting one is to expand your thinking of things your can do cheaply, etc.
These raised beds are shockingly expensive but they outlast their competitors.
https://vegogarden.com/products/9-in-1-modular-raised-garden-bed
When your wood framed bed rots, what will replacement lumber costs be?
They also offer a minimum depth of 17” which should be entirely adequate for any vegetable that is likely to grace your table.
Raised beds obviate the additional costs associated with rototillers and the fuel needed to operate them. Where will fuel be priced in the next decade?
Plan for a small measure of independence from rising food costs by growing your own vegetables.
“Square Foot Gardening” is an excellent resource and I can personally testify that the rewards-to-effort ratio using this system far surpasses any row gardening arrangement I have ever used.
9.1% ?
A dollar has been added to gas since January
We will be seeing $5.00 per gal. here in California presently $4.00 per gal where I live. Some think if Biden administration continues, we will see $10.00 per gal.
That was the one-month increase, not YTD.
Local prices were about 80% increase in gas prices in 2 months since Biden Stole the WH. with a steady creep up still ongoing in the past 2 months.
I don’t see anything about this on MSM. How long will MSM bury this story or blame it on Trump.
Under Comrade Puppet Obama, bad news was rarely discussed unless you caught Stewart Varney or Charles Payne or David Asman on a “good” day on FBN.
Just we are seeing under Sock Puppet Biden, bad news was always delayed 2-3 weeks and buried under some manufactured crisis during Comrade Obama’s regime.
The O administration released fake unemployment numbers in October before the 2012 election, only to correct those numbers afterwards. Expect government agencies to commit all kinds of shenanigans in the near future.
Just another tid-bit about inflation changes:
I am an active participant in the Fidelity Greenline Forum and have been active in working with Fidelity in adjusting their retirement model, one can access via their website.
During President Trump’s administration:
The cost inflation assumption in the model fell from 2.5% to 2% (while Fed was saying inflation was well below 2%, at the time). So, 2.6% is about a 30% increase.
Medical Cost Inflation assumption fell from 7% to 5.5% to 4.9% . For 2021, my Medicare Premiums paid to US Government and the Supplemental Plan we use went up went up by about 10% for 2021.
You forgot to mention how much the out of pocket drug cost has gone up, what ins pays and your cost after.
It all depends on the actual drug and plan you choose. We are using Silverscript (administered by Aenta) as is the Part D program. Aetna changed all the actuary tables as well as tier designation for generic drugs favored by the old Silverscript Administrator CVS.
The premium dropped by $3 but by time you pay the new out of pocket, the drop in premium is lost, oh how clever they are.
My out of pock went up for 1-round of prescriptions until I switched to the Aetna favored generic brands, then it went down slightly. Of course if you are using prescriptions that are not safe to change, as my wife is, it is all up to the mercy of the Aetna Actuary.
I self managed my portfolio in the 80s-90s using Eric Kobren’s Fidelity Insight newsletter. Outstanding gains.
I have met the CEO of Fidelity (Abigail Johnson) at a function in Dallas and have heard her speak a few times, she is quite impressive.
Like no one saw this coming…fools. When it all goes down, so do they.
I hope you’re right about the last part but I think “they” want this to happen. Isn’t it when the masses are penniless they’re going swoop in and save the day with their “monthly stipend” socialism support that we’re all supposed to live on while working for the elites as they vacation on their yachts. I think that’s how they want it to work anyway…
What’s the main way to take excess cash out of the economy to avoid inflation? Raise interest rates. What’s our current debt up to as a nation? $30 Trillion. There’s a big, humongous difference between 0% interest on $30 Trillion and 20% or 30%. Say bye, bye to SS, Medicare, Medicaid and the military if that happens.
Did you hear China is dropping the dollar as an exchange currency when dealing with Iran and other Asian countries? Guess where those dollars are going to come flooding back to?
All part of the Great Reset. Bust USD so globalists can move us onto digital currency. We can barter, I guess, but the IRS wants us to report all that. Gotta squeeeeeze us of every thin dime.
Housing and energy (gasoline, natural gas and heating oil) are two of the largest components of the BLS inflation statistic so it would be pretty hard to miss this one!
Housing is going to get hammered when the bubble burst….
As a family owned & operated dairy farmer I can assure everyone the prices we are receiving are at rock bottom.
Not that it has any effect on what dairy prices are in the store.
Add in a new flood of illegal immigrants that are working at half the price as the “older” illegals and the outlook is dismal.
Sorry to hear it, my Dad’s family were all dairy farmers. It seems like President Trump tried to work really hard for the farmers. Hiden Biden taking it all down.
God bless you for being a dairy farmer and enduring regulations so hard that many were forced out.
We have about 60 days to take profits and lock in gains from the Trump MAGA economic wave. Those that wait will loose everything. There will be NO warnings. Just a massive consolidation like no other. Media will play the happy song right up till the end. Take profits now!
That’s my take. I have adult children. A few of them “get it”. I worry about one in particular thinking that the money thing is going to keep going. It’s not.
Sell high, buy low, and do it now. Get yourselves situated for a long spell of insanity.
Richard; what do you propose? Sell everything in my 401k and then what?
You hold the cash and wait until the number has really hit the bottom. Then you wait a little longer to see who survives and maintains value. By then, you will see who is worthy of your money and your investment.
Then, you start to make quality purchases. This is how the wealthy do it.
Don’t wait for Buffet to sell as no one knows when the bubble bursts and you need buyers. A few dollars now is nothing lost, if ( in the end) you lose it all.
So sell and leave in a money market fund?
I have cash just sitting in my ira, as cash. With interest rates so low, it makes very little money. However, it is liquid and I don’t need to find buyers.
I also purchased some short positions. You can research those and decide what you will buy when the bubble begins to burst with some of the cash and make a little profit.
If your broker has money market that you can use but liquify when its time to buy, why not?
The goal is to capture the profit and then liquify it for the bubble burst and good purchases when the dust settles.
Repeat the talking points, there is no inflation and if there is any it is transitory. Chairman Powell’s esteemed financial and monetary advice, wear a mask and stay 6 feet apart. The guy flooding out trillions of dollars that can never be repaid to fund the communist agenda, and this is his wisdom.
It is all part of the plan to crush us between high interest rates and inflation while they destroy the value of everything we own. We are on a fast track to unsustainability.
provides a welcome mat to economic ‘socialist’ policies……MUST take senate or congress next election….if not, it is over folks….they’ll roll us hard.
We will win just as easily as we did in 2018 and 2020, but the Communists will somehow be shown to have more “votes.” The only hope is military action, and the enemy controls a large portion of that as well. Pray. And then pray some more.
One might assume there is an intentional effort to destroy middle America
break up the country into ‘manageable’ groups thru financial stressing, and a racial component …(see BLM and Antifa) …. they’ll be haves and and have nots…..
Whites ….are the have nots Minorities….the haves
It’s coming folks……unless we stop it!
^ This.
I am still trying to figure out why. Is DC full of Judas Goats?
When the USD crashes, everyone loses except land holders, gold hoarders and large mortgagees (as far as I can tell, and I am not an economist, large mortgage notes become due in devalued dollars). So the looters of American wealth see their holdings go negative. Also this effects the entire global economy, not just the US.
Not to mention the Judas Goats become instant targets. Not a good strategy unless the JG’s have installed totalitarian protection.
I am truly cynical about Bitcoin, and do not own any.
However a good mate of mine has made a ton of money recently on a Bitcoin ETF.
He is out now but is of the opinion that 1 coin may be $100,000 in the not to distant future, it is currently around $63,000 and has soared since the fraudulent inauguration of Joe.
Wow!
God bless PDJT
If leftists were capable of connecting consequence to choice, there would be no leftists. Instead, for the left, the answer to the problems of socialism is always more socialism.
The demographic that can make some difference is the low info voter (or non voter). They go with the prevailing orthodoxy no matter what they can see with their own damn eyes. That is why the media exist. To make sure only the left has a voice that can reach him.
It took decades of passive submission from Republicans to get us to this point. Getting out is going to require action. I’m not talking about riots or marches. Just stop putting money into the pockets of the left.
Be conscious of all your purchasing decisions and don’t buy anything from the left. No Hollywood, no sports, no cable TV, no woke company products. If just half of the conservative voter base would do this, it would take hundreds of billions of dollars away from the left. It might even get the attention of the low info demographic.
Stagflation thanks to
Jimmy CarterJoe Biden.I negotiated the Carter years…..what a freaking moron he was! Total buffoon!
Back then, some thought that since Carted had been a nuclear engineer for the Navy, that he would make intelligent decisions. Well, Herbert Hoover was a chemical engineer, and yet his big government ideas had candidate Roosevelt criticizing him for profligate spending. It’s morons all the way down!
Carter never served on a nuclear powered submarine…left navy in 1953
You must be a journalist. You made a technically accurate, very finite statement but it completely misleads the reader as to the entire truth.
Ref. https://www.history.navy.mil/browse-by-topic/people/presidents/carter.html
“President James Earl “Jimmy” Carter graduated from the Naval Academy in 1946 with distinction, after which he was assigned to USS Wyoming (E-AG 17) as an ensign. After completing two years of surface ship duty, Carter applied for submarine duty. He served as executive officer, engineering officer, and electronics repair officer on the submarine SSK-1.
When Admiral Hyman G. Rickover (then a captain) started his program to create nuclear-powered submarines, Carter wanted to join the program and was interviewed and selected by Rickover. Carter was promoted to lieutenant and from 3 November 1952 to 1 March 1953, he served on temporary duty with the Naval Reactors Branch, U.S. Atomic Energy Commission, Washington, D.C., to assist “in the design and development of nuclear propulsion plants for naval vessels.”
From 1 March to 8 October 1953, Carter was preparing to become the engineering officer for USS Seawolf (SSN-575), one of the first submarines to operate on atomic power. However, when his father died in July 1953 Carter resigned from the Navy and returned to Georgia to manage his family interests. Carter was honorably discharged on 9 October 1953 and transferred to the retired reserve at his request with the rank of lieutenant. The Seawolf-class submarine Jimmy Carter (SSN-23) is named for the 39th president.”
So Gen Sensibility actually was pretty close if not right on target with his statement.
First nuke was the Nautilus….in 1956. Carter did NOT serve on board a nuclear powered submarine, trust me, I served on 5 submarines….we did NOT like the fact that so many people thought carter served on nuke boats. His one boat (SSK-1) operated out of Groton, CT and was a diesel boat. Required to snorkel often due to needing to charge the ship’s battery with a couple of diesel engines. Carter was an idiot…..we (boat sailors) didn’t claim him….word is he was an idiot department head and exec…from the design aspect he may have had some input with Rickover, but he never set foot as a crew member on a nuke boat…ergo, to a boat sailor…the guy was never a nuclear engineer for the US Navy….our definition of an ‘nuclear engineer’ in the US Navy?….You need to have served on a nuke powered surface ship or boat…..
Neither “Gen Sensibility” nor I ever once said Carter SERVED on a nuclear submarine.
However he DID serve as an engineer of sorts as a lieutenant assisting “in the design and development of nuclear propulsion plants for naval vessels.”
But you glossed right over that fact and ran right to a straw man argument by talking about Carter’s not serving on board a nuclear sub, which no one here in this discussion has claimed.
Thank you for your Navy service.
Re-reading…you are right. I’ll own that. However, to our community of ‘nukes’, if you haven’t been a nuke on a boat or surface ship…you can’t call yourself a US Navy nuclear engineer, just the way it is. An ‘engineer of sorts’ is the correct description for Carter……definitely not a nuke bubblehead…. 🙂
My father worked on the early development of the reactors for the Nuclear Navy. He shared an apartment with Rickover in Oak Ridge as Rickover wanted to “pick the brains of his nuclear engineers 24 hours per day”. The story I was told about the interview of Jimmy Carter when he wanted to join the team was that Rickover told him that he didn’t finish at the top of his class and therefore did not have the work ethic to join the top level engineering group that was based at General Electric’s Knolls Atomic Power Lab.
That’s “the story (you) were told”, which means it is hearsay. I have no reason to doubt your veracity in recalling a story told to you from years ago..
That being said, what I posted above in my first reply to ETCM(SS) is directly from http://www.history.navy.mil which is an official government website. It states that Rickover interviewed and selected Carter for the job. It does not state that Rickover didn’t want Carter or reasons why Carter was selected (IMO we can safely assume that Rickover did not know Carter would eventually become a U.S. president 23 years in the future).
I can;t remember if we were odd or even days to get our gas..
I remember that ….. I believe we were even days, and how about those gas lines? Remember those?
Those numbers are small potatoes compared to lumber. Up 336% in two years! Gonna kill the new home market and we already see existing home prices have been going up!
Already happening…….check out omaha, ne…….
Some are having to pay $25K just to get on the builder’s list, and then get him to START to build the new house 18 months from now. Everything bad that happens now is excused by COVID!
There is an interesting point that needs to stated when considering SD’s great article. During the regime of Comrade Puppet Obama, we here on CTH had an exchange about the methods used to calculate INFLATION. The Government does not calculate inflation with the consumer in mind but with the financier’s in mind and uses factors that do not reflect “cost t consumer” in the final numbers. The models DO NOT include many factors that actually hit the consumer’s wallet.
Thus the government and their MSM buddies able to delay the announcement of bad news impacting the consumer, if they even choose to report it. In the days of Comrade Obama, if the bad news was reported it was buried under a manufactured crisis.
Or a false number was reported, and then corrected two months down the line.
Now bad news is hidden under Covid.
Price of an 8 foot 2×4 TRIPLED in 6 years. In forested eastern Canada.
It’s a good thing I have had so much experience/training at being poor.
Funny, but true. Being poor can be an asset. ??
I list it number-1 when asked to list assets.
Awesome post!
We have plenty of stuff, and can help friends and family.
This is a result of growing up very poor.
Posters may get a chuckle out of this, we invest, work and save.
Yet we still collect refundable pop and beer cans that are donated to us for the ten cent per unit credit. ( we don’t drink either pop or beer)
We have earned around twenty bucks this week. Seems trivial when starter detached homes in our town go for around $1,400,000 but we could not live any other way.
Our high earner sons ( well brought up) but never poor laugh at us ( in a kind way)
We even have a rental suite in a nice coastal city here in B.C. we are able to let friends, and family use for free.
A suite that would fetch a good rent!
A crash will be what it is, and the wise and frugal will survive.
The others..we’ll see.
God bless PDJT
Nothin from nothin
Leaves nothin
you got have somethin
if you want feel the squeeze, yeah
Sorry Billy!
Me too!!!!!!
Biden’s the smart one. He holds the brass ring.
You think you’re better than him because you’re not a lying thief. Well, hug your scruples white bread. That’s all you have.
The Left holds everything of value, like the future. The game’s over, and so are you, sucker.
Hey, Treepers, the Court Jester arrived! He’s hung over, so his jokes aren’t as good as usual, but he’s goofy to look at.
Slight sarcasm.
Ruthlessness clearly works.
The Left knows they shan’t be aggregating power through persuasive argument.
They resemble Musillini in more than just the smirk.
“Ruthlessness clearly works.”
The really neat thing about God is – He never lets ruthlessness work very long. And the ruthless die like everyone else. Then they really find out what “ruthless” is….the hard way.
Wages are already going down, at least in Charleston area.
No surprises here. It’s policy. The squeeze will end only if Trump or a like-minded leader takes over. In the meantime we can’t expect the “po folks” to raise any objections. Those idiots won’t care because Jay-Z will tell them it’s all your and my fault. Then they will dance in the streets.
That was definitely a given, wait till the next few Quarterly reports start reflecting this.
”Brace for impact”. Isn’t that what the airlines term is?
Remember, you can’t “Build Back Better” unless you destroy everything first.
Do you subscribe to MA’s Socrates? SD’s post is mild compared to his recent Socrates’ forecast. Shocking of late
God Bless Presudent Trump.
He demonstrated that plentitude is our norm and that these problems are instigated , by desugn, to impoverish , defeat and kill us.
Poor commies…
Mossada’s cliffs beckon yet again
And here’s the tell with this little gem.
US/AMERICAS:
Cyberattacks are the biggest threat to the US economy, according to Federal Reserve Chairman Jerome Powell. A 2018 study conducted by the International Monetary Fund supports this theory after finding that cyberattacks may costs banks 9% or $100 billion of their net income annually. Powell warned that cyber security, and the risk of hacking into financial establishments, could cause a complete market crash similar in size to the Great Recession. “You would have a part of the financial system come to a halt, or perhaps even a broad part. And so we spend so much time and energy and money guarding against these things. There are cyberattacks every day on all major institutions now. That’s a big part of the threat picture in today’s world,” the chairman cautioned.
The Food and Drug Administration is halting trials and usage of Johnson & Johnson’s (-1.34%) coronavirus vaccine immediately after numerous recipients experienced blood clots. The one-dose vaccination was touted as a quicker alternative than Moderna and Pfizer vaccinations, although admittedly having a lower efficiency rate at warding of the coronavirus. The FDA said the “adverse events appear to be extremely rare,” but are urging a pause in its usage “out of an abundance of caution.”
The US federal government spent at least $660 billion more than it profited last month, according to the Department of Treasury. The government spent nearly double on a YoY basis, making purchases to the tune of $927 billion in March. The spending surge is largely attributed to the Biden Administration’s American Rescue Plan package and ongoing stimulus check payments. This marks the third-largest monthly deficit in American history.
https://www.armstrongeconomics.com/market-talk/market-talk-april-13-2021/
Please use paragraphs
Mark Twain said: it is hard to win an argument with a smart person; it’s impossible to do so with a stupid one.
Unfortunately my better half is in the opposite camp—when I asked her who she was voting for, she said “Jesus”—because she thought Trump was mean.
“Why would you waste your vote?”, I asked her. “Well, if everyone voted for Jesus, the world would change.” ?♂️
Jesus isn’t running. He’s at right hand of God. And when He returns, it’ll be Revelation, baby. Till then, tell your mate to read the Old Testament and remember that God uses flawed men to accomplish great things, to show His glory, not man’s.
Hear, Hear!
Amen
On the way to stagflation.
Mortgage rates are also rising. Buy your house ASAP, or stay put in the one you have. Remember Carter’s double-digit interest rates? They are coming back.
Caveat: If it’s an adjustable rate mortgage; otherwise, keep paying that fixed rate and keep liquid. Don’t listen to advice in columns from people who want you to panic-sell to pay off reasonable mortgages. Too many people get out of 401ks and sell-off everything after gorging on panic-porn. Boy-oh, when the next tax bill comes, you’ll regret that move.
Nearly the entirety of my wife’s side of family in real estate……I am thinking they’ll all be challenged financially over the next 12 to 18 months..they aren’t listening though…ounce of prevention worth a pound of cure.
LOL at the “{Go Deep} but hurt Wall Street.” part.
Had to reread it a couple of times. President Trump definitely “butt hurt” Wall Street, hence all the insanity the last 4 years.
I feel like I’m paying double for groceries- I’m in SoCal- I clip coupons (always have), but now instead of my husband laughing at me, he thanks me.
And this came as a surprise to????? I thought so!
I am getting more aggressive technical sell indicators in regard to the Stock Market. I advise people consult with their; planner, broker or financial advisor…..Do Not get Trapped.
The trend is your friend. Momentum indicators are worthless.
Most of them are worthless.
Please clarify ‘aggressive technical sell indicators’….please, what exactly do you mean?
Comparing my last three February expenditures I saw a 5.2% increase in cost Feb 2020 over Feb 2019. I saw a 22.3% increase in cost Feb 20 over Feb 2020. These are recurring common foodstuff, restaurant prices, fuel, electricity, and insurance cost. The Fed’s numbers are BS.
The reason I picked February? That is the month car insurance is due and I get my house insurance bill. I also do my yearly small motor service (lawnmower, pressure washer, blower, tiller), HVAC service, and motorcycle. I do service the motorcycle more if I push the miles up but I start ridding more in March.
Those that care to even read what I post, then you should know I’ve said to all who happened to see my comments on here from the past to pay off your debts and get prepared.
I study global economics to gauge where we are heading, you have time so don’t stress but don’t delay.
This was by design, from day one!
Thanks for your suggestions, Sundance. They are always comforting advice.
We’re trying to buy a new truck, and get rid of two older cars that have some mileage. We have money saved up, but we don’t know if now is the time; especially with the prices. We have a 2009 Ford with 72,000 miles, and a 2015 GMC truck with 75,000. We owe about what their blue book is, but of course won’t get that with a trade in so we figure with them both as a trade in and enough money down to keep the monthly premium exactly the same, we would be in a more reliable car and better off. We both work from home but our family is two hours away and want a more reliable car for the future (no repair costs, peace of mind), but now we aren’t sure with everything and the prices are insane. We were looking at used Tahoes but won’t pay 40,000.
Replace the engine it’s so much cheaper. My 2015 power wagon had over 200,000 miles on it, it was paid off so I replaced the engine for $8,000 runs like a champ and it’s been 2.5 years now.
You and your husband should really consider this, keep the money close to you.
Jasper motors is who I used and the mechanic had it done in 4 days.
Sell the 2015, pay off the 2009 and start putting the equivalent of the car payment in savings for maintenance and repairs on the 2009 and cash to purchase next vehicle if necessary.
We have 3 cars
2001 Honda accord w/ 180,000 miles (my daily drive)
1999 Honda civic w/ 305,000 miles (hubbys daily drive)
1998 F250 w/ 240,000 miles (spare vehicle and boat hauler)
AAA for roadside assistance.
If your vehicles are maintained and work well there is really no reason to get rid of them.
Repair and refurbishing costs when they are needed is probably the better way to go. As Marcia stated; get out of debt.
Anyway, the Communist takeover and we will be like Cuba still driving 1957 Chevrolets.
These are great suggestions to consider, thank you all for taking the time to reply I really appreciate it.
Truck prices are going through the roof. I finally sold a 2001 SUV (Dodge V8) – still ran great. Take your trucks to the mechanic’s and get a quote for “fix everything”. Those trucks should give you another 100,000+ miles.
My two cents.
Why would you want to incur a new car debt in the face of so uncertain financial stability of things?
The mileage of your trucks is low. Do all needed maintenance now and stay on top of oil changes. Oil changes at regular intervals with quality oil is the key to long engine life. Make sure the front steering/suspension is tight and replace whatever needs replacing there. Same with suspension on all 4 corners. Have undercarriage sprayed in fall with oil (there’s a specific product used), the Canadians will know the name. and wash salt from undercarriage weekly in winter.
Do all the rust repairs now. Resist the temptation to say “It’s only a little rust spot. I’ll fix it later”. Three years will go by before you “fix it”. Use the 2015 for your longer trips. Get estimates for every job first. Write them down and plan to budget for the most necessary repairs first. You’d be surprised how much difference new tie rods, ball joints, etc makes to how the vehicle steers; and how new leaf springs/shocks make it ride.
Watch the price of a mini Cooper car go sky high. If they weren’t death traps, we’d look into getting one.
When the economic piffle spewed by a certified communist kook-burger like Bernie Sandals is the prevailing fiscal model for a regime which is illegitimate in the first place, it’s just a matter of time.
Gird your loins for economic chaos America.
One Government (UN), One bank (digital currency) and One religion (Climate Change).
Does anyone wonder why Janet Yellen was asking for a “Minimum Global Tax” because that is the one bank, all because governments around the world have a spending problem and they won’t correct their ways so they come after everyone for… A minimum Global Tax.
Keep your eyes on January 2022, that is when the new Secretary General of the UN Assembly is elected.
Comrade Obama has been campaigning for the job. His biggest assets are backing fo the Puppet Masters for being a great Puppet and he has Sock Puppet Biden’s pen and cellphone in his pocket, giving the UN Control over the assets of the US Government.
You and I think the same b/c we both have followed MA for 12+ years. I subscribe to Scorates also. Do you? The news/forecasts are really bleak if late.
Hunt for taxes.
We are retired, debt free, downsized our abode, have a good supply of food stuffs, and have a good supply of $$$ in a local bank along with investments. In saying that what will a dollar be worth in a couple of years?
We budget our expenses, and roll any surplus into the next month. At this point in time we can adjust to meet rising gas prices along with other necessary costs, so I see no problem at the present or for the near future.
Are we lucky or rich? No. We just learned to live within our means years ago. Budgets arent rocket science, and you dont need the latest and greatest gadgets to survive.
No panic selling. Remember, you’ll get taxed on cap gains, which benefits you-know-who.
Retired Magistrate here: In Reply to ETCM(SS): Yes, I did live through the Carter years and the “misery index.”
The main reason I tell people to try and pay off their mortgage is that I owned real estate during the Carter years and real estate really took a hit; almost lost my house and the equity in it. Promised myself I would not let that happen again.
Mortgage rates were 18% and higher and you could only buy gas on certain days. Cars were lined up for miles. At Christmas Carter told us to save energy due to the energy shortage, so no Christmas lights and we were to turn down thermostats in the Winter and turn up air (if you had it) in the Summer. The United States was the laughing stock of the world. In Carter’s case I don’t think he ran the country into the ground on purpose; Carter was just inept. Biden/Obama/Soros, etc. are doing it on purpose to punish us for wanting to put this country’s interests first.
So I will continue to make suggestions which hopefully will be helpful. By the way if you are thinking about a remodeling project, I would not pursue it at this time. Construction costs are sky high and the workmanship isn’t that great. Plus if the real estate market is going the way I think it is (down) you will have a difficult time getting your money out when, and if you can sell your house. If things work, live with them the way they are. If you have older appliances and they work, keep them. The newer appliances don’t last that long. I don’t need a refrigerator that talks to me, tells me the time or updates me on current events. The fridge just has to keep things cold, simple.
I have 1998 appliances in the kitchen. Best working appliances I have had in 20 years. Imagine – a dishwasher that actually power washes dishes with lots of very hot water and dries them perfectly in a very short time!! Yes, it’s loud and it’s fantastic! My new washer and dryer (top of the line) suck. I was going to “upgrade everything” before I sold my house and now I’m like “why???!!! in order to curse the new buyers?” LOL. When I buy another smaller house I’ll be looking for appliances at a used appliance store and specifically search for the old ones that have been repaired. I don’t think today’s young people even understand that appliances used to work well and keep working for 30 years!!
My old vacuum cleaners are very nice too, the newer one I bought will never compete with my old 1980’s model.
Our snazzy Samsung smart washer with all the features didn’t last 4 years. The new one has 6 settings, four temps, and an “on” button. My wife insisted that any new washer be simple to the point of being stupid.
Our dryer is in its (at least) 27th year of operation. When I bought my first house in 1994, the homeowner left it behind. It has a temp dial and an “on” button. Has never been repaired. Works great.
Debt is a prison. Cash flow is king.
A loan on a decent car, and an average mortgage, ties up $2000/mo or more for most people.
I always tell people to imagine a $24,000/year pay raise. That’s how I feel with no mortgage and no car loans…
I lived thru those years also…and it took Reagan a while to work those interest rates down….I would say one thing, one tactic that can be employed in a ‘high interest’ economic environment is to keep your ‘VERY LOW’ mortgage rate, and IF you have a good quantity of cash, invest in CD’s and ladder them as the CD rates climb….I’d carry a very low mortgage rate and invest in CD’s at high interest….
I don’t have a mortgage anymore so the possibility of higher CD interest rates with little to no risk is something I’ll be doing … haven’t had a house payment for 13 years so have some cash to take advantage of the enviroment
I always try and find the positive (which has been *really* hard). If anyone’s been in the market for an RV, they will have noticed that there’s a huge shortage. During the plandemic, people wanted to get out and about, more people were working remotely, so lots of Americans hit the road and found interesting and fun places to visit. I am in the market for an RV and I just watched gas go from $1.50-ish in my little town to $3.25+. I remember the days of almost $5/gallon gas during a time I had to drive from state to state for my job. But, back to the positive… maybe we’ll see people dump those gas guzzling RV’s and I can find a used one I like!! OR alternatively, people will decide that camping full time is a lot more fun than paying for a mortgage. You just have to camp in Red states that are open. It’s time for people to seriously consider downsizing in every area possible in order to weather what is certainly coming. THANKS DEMOCRATS!! They always know how to ruin a good thing. They hate Americans.
Madame P, we bought our 27′ travel trailer just before the covid BS came out. (it’s our 3rd). You are so correct about the shortage. End of last year we took it back (in Menagerie’s former home city of Ringgold, GA) for it’s first year warranty look-over, and their lot was 3/4 empty from the year before, when we bought the RV! They told us that it was very difficult to get inventory! Our oldest daughter and her husband have been full-timing since they got married 4 years ago. They love it! I would SO much love to find folks, such as ourselves here, that could get together and put together a few properties for RV living. At some point It may become a necessity, rather than a fun option!
Lord, help us!! If I had a dollar for every time bad economic news was “unexpected” during the Obama years, I could have retired by now!! There truly is nothing new under the sun (unless of course, you are Paul Krugman or any other “Nobel prize” winning economist)!
If you want to see inflation, go back to the Bush/Obama years.
Oh, I am so old I remember the inflation of the CARTER years!!
I remember my aunt and uncle finally were able to buy a house when Reagan beat inflation. I also remember my grandparents living like “royalty” because their CD’s we’re returning 10-12%. Pop would cash one in whenever he wanted a new car.
I bought my first car in 1979 – I was only 16 so my parents loaned me the money for it…$4000 at 12% interest for 36 months. My mother was horrified when my dad insisted on charging me interest but he said that he was cutting me a deal by “only” charging me the 12% they were getting in their Money Market Account because the going rate for a car loan was 18%! Best thing he could have done – taught me how to manage money and to make extra principal payments to pay off the loan quicker. I think I had it paid back in just over a year. Wise man – and a great dad to boot!
You should be long energy futures and/or energy stocks from March 2020. Absent that, buy any pullback after a countertrend sell-off. Commodity ETFS are available for the novice. ETFs track the capital markets, too, as they do the equity markets. There is no reason to ever go into cash with bear ETFs. Leave futures trading to the big boys that do their homework if you do not understand financial derivatives.
Well four good years out of the 38 I have worked. Really tired of places closing up on me. From Ohio.
I had a hard time keeping steady jobs under Obama, he was always messing with the economy in a backhanded way. He really was the anti American Criminal in chief.