Fox News conducted a poll last week [Data Here] asking about views on the economy overall. As would be expected the majority of Americans see the economy as the #1 issue right now.
When asked for their view on how long the issue of rising prices are likely to remain a problem, 65% of the respondants said a year or more, while 29% had a more short-term view.
It is very hard to see a short-term end to inflation, accepting the status of energy prices and the looming issue of much higher food prices later this summer and fall. In both the energy sector and the food sector the upward pressure on prices remains incredibly strong; perhaps the strongest ever predictable scenario for much higher prices yet to follow.
Fox News – […] Three-quarters say recent price increases pose a financial hardship for their family. And increasing numbers say they are a “serious” hardship. Higher grocery prices are a serious problem for 44%, up from 36% in February. Same story on gas prices: 44% serious hardship, up from 35%. (more)
♦ Where are we now? There are two sub-sets:
• Inflation on durable goods should now be nearing the apex. The durable goods price flatlines right now as all production costs are embedded in the cost of the product. The prices of finished goods are now set; inflation has caught up to production; the prices of on-shelf and inbound deliveries are higher, but stable.
Now, we enter the phase where consumer demand becomes the dominant factor in price. Simultaneously, demand is contracting because the higher rate of inflation in highly consumable goods (energy, utility costs, housing, gasoline, food) is now a spending priority for consumers and eating a larger portion of wages. As a result, the price of durable goods is now dependent on the ability of the consumer to pay for them.
Sellers of durable goods are going to be chasing a smaller customer base who can afford them. Durable goods prices will remain static, and now durable goods prices will likely become part of the competitive equation. The businesses within the durable goods sector are going to have to find customers in order to stay in business. Incentives will show up this spring/summer as businesses need customers. If you are a wise, careful and smart shopper for durable goods you will find deals
• Inflation on consumable goods is not yet at the apex. It’s likely close to production parity, but prices pressures are still volatile in the upward direction. The price of gasoline and transportation overall will be a big factor in current prices of highly consumable goods. We should see oil, gas and energy prices stabilize first.
Rents will likely increase for another three to six months, then stabilize (and, in my opinion start to fall late summer).
Housing overall is far more challenging as mortgage rates are climbing. Refinancing as a method to bridge the income gap between wages and expenses is a big problem now in this phase. There is going to be a period of massive fluctuations and instability in the housing market depending on region and employment stability as the recession phase of the total economy is going to bite hard.
For most regions with mixed blend underlying economies (products and services) macro housing prices have peaked in the last 15 days. For ordinary housing purchases, not institutional investments, we should start to see price decreases again as the customer base for high prices shrinks. Obviously, this is driven by inventory and regional specifics; however, I am talking in the aggregate within the macro housing situation.
Food prices still have some upward pressures through Memorial day. Then a period of stability will settle, before the third wave of food inflation hits later in the summer/fall of this year; that’s when the increases in farming costs will reach the fork.
Late summer and fall food prices will likely be 15 to 20 percent higher than current prices at the supermarket. The fresh foods will be on the upper side of the future price wave, and the processed foods on the lower end; however, both will increase.
The last factors in the food price are far more challenging to predict…. Supply? Any problems within the food production cycle that impacts supply will drive prices, beyond what we already expect. If there are major shortages, the prices will go even higher.
This food environment is unfortunately the best time for Big Agriculture, the Wall Street multinationals, to make the most profit. The Big Ag multinationals will exploit every possible angle within inventory, supply and harvest controls to maximize their profit equation. There are a great deal of unknown global variables right now that could impact U.S. food prices later this year. The only certainty is that prices will further increase.
Joe Biden sucks.
As CNN painfully noted: “Even within the Democratic Party, just 7 in 10 approve of Biden on the economy (71%) and helping the middle class (71%), considerably lower than the 86% of Democrats who approve of his performance overall. Fewer than half of Democrats say Biden has improved the nation’s economic standing (45%), down from 58% in December.” (article link)
Remember, and emphasize as much as needed for importance, the U.S. government (Biden administration) needs inflation in order to sustain debt.
That’s why we are seeing a Ukraine spending package ($33 billion), the next round of COVID spending ($22 billion), and now a demand for a college loan bailout ($900 billion). Combined the three massive spending packages generate another $1 trillion in artificial money, designed to keep inflation high.
The Fed (monetary policy) and White House (fiscal policy) are working together to try and manipulate the economy. You can identify their intent by noticing both actions, raising interest rates -&- massive spending, work to counteract each other.
Right now, our U.S. economy is a game of musical chairs, and they are trying to keep the music playing. However, the record is slowing (economy is contracting), and the music sounds weird. Inside the economy the activity is slow to non-existent. Consumer spending is only high because ordinary stuff costs more; the overall U.S. economy is not generating any additional value.
If this isn’t “stagflation” I have no idea what it would be.
FUBAR
As James Carville said, “It’s the economy, Stupid.” If only the elections can be kept fair…
Without accountability, elections can never be fair.
And there isn’t any accountability. Look how they locked the “observers” out of the voting places last election….even covered the windows so they could keep them from viewing how they were cheating.
James Carville also said that Americans don’t understand how great the economy is right now. I’m sure it is great for multi-millionaires who have never had to work for a living, which is exactly what James Carville is.
Remember when the 60’s and 70’s radicals were all saying eat the rich? Now they’re the rich, and saying let them eat cake.
Well, I’m not math genius, but if you’re still paying for the same amount of goods and selling to less people, it’s gonna sink you too. They gotta raise the price, but they also have to cut back on the amounts, which means mfg has to cut, which means wage must be cut….am I wrong? At least in my mind, that’s how it works. Of Course, BiDumb doesn’t realize that does he. Since he doesn’t shop, doesn’t spend, doesn’t drive. Bet he doesn’t even know how to pump his own gas.
“As would be expected the majority of Americans see the economy as the #1 issue right now.”
Not this American. I see stolen elections as the #1 problem
We are being governed by communists.
And Oligarchs. Don’t forget the Oligarchs.
Oligarchs are Communists…..how do you think they got that w ay?
Fascists.
Kleptocrats – FJB’s projection – the entire world is being looted like a Walgreens in San FranSicko on a Friday nite.
It seems to be a Command and Control economy. (Incandescent bulbs) And we all know that type economy always leads to the land of plenty./
No election will fix this, we’re a century past that point.
Temporary highs and temporary lows, that’s about all you get.
But.. the economy is a great symptom to focus on to avoid the real problem.
Everyone knows that the price increases are due to kulaks and sabatouers. Gloria al Bravo Pueblo Comrade!
Red blooded Americans need to get more vocal about how angry they are that politicians manipulate the economy for personal gain at the expense of hard working Americans.
DNC ‘leaders’ is on steroids in MACH speed, trashing the country and constitution. Every election cycle and administration with the exception of maybe two, have made our lives needlessly and miserably, harder.
How to fix? I wish I knew…
I don’t think that is clear even when it is mentioned. It is not be explained in simple terms that today’s short-attention-readers will grasp nor is it said often enough and loud enough.
Maybe we need a diagram and do a sticker campaign like the “I did that Biden picture” sticker.
Biden & Co. (e.i. the Build Back Awfully crew), no matter how one cuts it, spells U•BARF!!
For a # of years, including AFTER the 2008 financial fiasco, polls have consistently shown 75-80 percent of Americans;
Do NOT have a finacial budget.
DO NOT have any “reserves” to draw upon.
Live from “paycheck to paycheck”, whether the check is from an employer or the Govt.
Would be homeless within 1-2 months of losing their income.
Such people, in all likelyhood actually have NO “discretionary” $, although since they have no budget, how would they know?
And, such respondents are at ALL financial levels, from poor to well off (or at least APPEARING well off).
THESE are the people who will be, and are being devastated by 20-30 percent increases in food, and even more in fuel.
They continue to “get by”, by a combination of using CREDIT, and “robbing Peter to pay Paul” and in actuality are “living beyond their means” or at least spending every penny of income.
There is no cushion, and with raises in income lagging price increases, they are screwed.
75-80 percent of Americans are going to be plunged into DESPAIR, and driven by DESPERATION.
Beware what you have wrought, Uniparty.
Dutchman: The Uniparty is aware. They want this. It’s part of their plan. Every communist regime wants the same thing and uses the same tactics.
Combating this crap demands a return to the fundamentals, as revealed and explained by wise men and prophets at various times throughout history. G-d, family, country, natural rights; we all know this, at some level. We just struggle with how to get back to the fundamentals.
Yes, the key strategy is “Divide and Conquer”; keep the people arguing amongst themselves, divided into as small a subgroup as possible; pro and anti; gun control, abortion, CC, CRT, etc.
WHAT we argue about is irrelevant, and doesn’t even need to make sense.
So long as WE are divided, they can make progress.
The ONE thing they can not prevail against, is 100 percent UNITY.
The Velvet revolution in Chechoslavakia, and the Singing revolution in Lithuania, Latvia and Estonia are examples of this; the Soviet Union had NO responce, and no choice but withdrawal.
The mess in Yugoslavia, was dividing the populace, in order to retain power.
FJB may well succeed in Uniting the populace, in a way PDJT could not, by exposing the IIIC, and UNITING the populace in opposition.
What fundamentals. You mean like burning firewood to stay warm, riding a bike to work ( if you still have a job) going to bed at sundown. Those measures are not workable. To overcome the future of what the left has in store will require resistance and most likely blood will be shed. I’m not for war or armed insurrection, I’ve served my country (2tours in Vietnam 68-70 US Army. I’ve seen firsthand the results. I say this “ I live in the real world”. I’ll fight before taking a knee to the fascist. FJB.
I’m hearing this tone from vets more and more, particularly those your age and mine. More variable with the younger ones. IDK, perhaps cumulative life experience has weighed upon us.
I still think social and economic warfare can occur before reaching for the ammo box. We’ve barely scratched the surface of those options at this point, at least in a unified fashion.
Yep, you’re so correct. The Ant and the Grasshopper was always my favorite Aesop fable, but I think a lot of people didn’t quite get it.
The IIIC eschew biblical teachings as well, and so ignore the lessons therein, particularly “the boy who cried wolf”.
They also eschew the “maxims of war”, battle tested and refined over the history of humanity.
They have contempt for their enemy, make NO effort to “know” or understand their enemy, etc.
Ultimately, their arrogance and Hubris will be their downfall, also a common theme in the Bible,..
Beware indeed.
The Uniparty has never had to experience a population in desperation mode.
The population must to turn back to our founding fathers roots…GOD! Otherwise, we reap what we sow.
I grew up with parents that never did a budget but they did well for a middle class family and own their home & saved. I have never used a budget. I never thought about it till I read the Millionaire Next Door (me) and realized that how I operated was in the minority. I always saved a certain amount, paid my bills and then just spent whatever was left as I saw fit. I think this worked for me because I have simple tastes/habits for the most part.
Dutchman, I agree but part of the problem is that the purebred pols have targeted Americans greed for ‘stuff’, giving many an ‘illusion’ of wealth or a sense of…
We are treated no better than the robber barons, feudal lords and monarchies of distant times treated us but they have figured out how to “keep us in line”, which is ‘cheap stuff’ and an ‘illusion’ of freedom. Or cheap food…I made the mistake of buying ‘fresh’ green beans from wally world…smelled of must…from long term cold storage.
And Peter and Paul are balancing their budgets on our backs. The desperation, I fear, will lead to martial law. (was listening to a radio show last night where the Philipine politics and Marcos’ 14 years of martial law, was discussed….it can happen here).
We’re already there. I know people already in real trouble. And the latest credit card numbers were shocking– people are already maxing out their credit cards to live, and we still have a long way to go on this. It’s very scary. I’m so grateful I don’t have to face the coming summer and fall in a big city, and that I have the cash and space to go ahead and start stockpiling some emergency stuff: canned chicken, brown beans, rice, instant potatoes, powdered milk, etc.
Raise a garden, try to keep a few chickens.
Have a water filter and alternate ways to cook and keep warm.
Have some junk silver to barter with.
Stock up on medications.
And do it NOW.
The problem most will face, is with their nickers having fallen to their ankles once the teensy light bulb flickers on … realizing they have a indeed naked lying exposed, with no backup to tide them by when society flops down into that most rutted and roughest road!l
Many plebs have not the neurons to even begin to engage in at least a little of their own sustenance in an attempting to supplementing one’s pantry, let alone trying to stave off hunger – too • much • GruntworK to even bother withg, having NO recall or inquiry of severe economic, umm, ‘dislocations’ of times past..
Welcome to the late 19th Century – if we’re lucky.
And a gooey liquid center of ‘abiotic’ black gold’ will not be forthcoming to keep humanity from the privation of eventual petroleum depletion, whether now or in the relatively near future.
So it’ll be back to the mean boys .. girls .. theys, or what have you. That means, to a large extent animal, human, and rudimentary wind/water power, once again.
We work, we spend, we save, we borrow, we invest, we consume, we pay taxes. All wield enormous power if used as weapons in a unified fashion. Identify the enemy and shove off. It won’t be pleasant. The alternatives are far less pleasant. PDJT showed us examples of how to exert pressure and defeat enemies without resorting to open warfare and killing. Excellent lessons.
These higher prices will become permanent. Inflation is a stealth robber of your money. It is like the eveready bunny. It never stops robbing you.
you are correct,and if you think it through you have to consider everything.A good part was raising minimum wage,oil prices,& gov spending.to correct it oil must come down,gov stop spending.only way to drop wages is to fire or lay off people then hire at a lower level. And the cities burn.
The inflation problem will be ongoing so long as the government spends a trillion dollars more than it takes in year after year. It’s a death spiral with a guaranteed outcome… and it ain’t pretty.
The FED will be creating money and buying bonds again much sooner than expected. They only stopped in late March and don’t plan on rolling off any of the $ 9 trillion already created beginning of June. The ECB is hesitant to even stop buying bonds. I don’t know what this is but I suspect it’ll be worse than stagflation and we’ll need a new word. Worldwide debt is off the charts, and cannot be supported, it’ll be a race to the bottom for currency devaluation. This could closer to the 1930s Depression than the late 1970s stagflation.
IMHO, they istituted these unprecedented “Emergency measures”, not JUST in the U.S., but Worldwide, in order to prevent a genuine financial meltdown, worldwide.
Once they had prevented the collapse, they realised they could NOT address the underlieing problem.
Hence, these “Emergency measures” are STILL in place, 14 years later, and even with unprecedented inflation, they are terrified of raising interest rates, or weaning back on Quantitative easing, for fear it will trigger the collapse.
So, they are hoping by instituting a World Government, a Digital currency system, etc. that somehow THAT will enable them to avoid the inevitable collapse of an inherently unstable financial system.
Or, create a MANAGED collapse, so that after the dust settles, THEY retain power and wealth.
I think they are desperate, and misguided, and in WAY over their heads.
They want a collapse. All of this is intentional.
They wish to have a managed collapse, with them holding the cards, as you stated.
And they wish to rid the world of most of its population.
Never forget they worship Death.
If true, it’s instructive to remember that they and their soldiers are not omnipotent, rather mortal. A life for a life if it comes to that. Americans have a rich history of killing; scores have died at our hand over the centuries, both domestically and around the world. We didn’t get to be a superpower by awe shucks let’s all pray to God and turn the other cheek, much as I’d like to believe that.
I hope it doesn’t come to that.
Yep. And look for a new digital currency to be rolled out, with a variable value, depending on if you are a member of a protected class. Those privileged, protected folks will receive a bonus ( think reparations,) while the average, non-privileged, non-protected folks receive much less, if anything.
Also expect retirement funds to be looted and redistributed. Wouldn’t be surprised if mortgage lenders started calling in loans, with the foreclosed properties being leased to the government for housing for illegal aliens and protected, privileged folks.
Where I live in NY about 50 miles north of the NYC belly of the Beast, heating oil is now $6.29 / gallon.
If that continues till Spring 2023 it will cost us well over $7000 to heat our home unless we use a lot of wood too.
The problem is that when oil goes up so does wood.
We can’t win.
Every day it’s another punch to the gut. Even President Trump said last night we might not have a country in 2024.
#FJB
I have never lived in a place in the U.S. that has heating/elec. bills as high as NY.
And I’ve lived all over the place. NY was in Albany area, over 10 years ago.
I don’t know how people do it.
I lived in the 70’s and early 80’s and inflation was bad but we had ways to deal with it. Drive less and slower. Use cheaper cuts of meat, maybe plant a garden. We had parents who remembered how to plant victory gardens from WWII and show us the ropes. People are less self sufficient.
Timmy-The-Ute: My mother added soy protein to the hamburger meat. That’s how we got through the 70s.
We had lots of cheap hamburger meat in the 60’s. Mom used copious amounts of elbow macaroni and Velveeta added for a treat. With six kids (four being voracious boys), we had huge pots of food.
We ate cheap hot dogs and bologna sandwiches almost everyday for lunch. A real treat (at least for me) was having Liver wurst sandwiches. Peanut butter and jelly was a frequent alternate. A raw carrot and a quarter for two half pints of milk.
It’s not too late to stock up. Canned goods have best-by dates out to 2025. They probably are good for another two years or more after that date. Just check for bulges or leaks.
Dried beans and pasta are great. Add corn or rice to a bean dish and you have complete amino acid proteins.
I love milk every night. Fresh milk will probably be one of the first dairy items to disappear from the shelves. I’ve looked up organic dried milk (powder). Looks like they are selling out fast and no date for re-orders. Freeze the powder in food-saver bags. Lasts three to five years.
I live on a rocky hill top with virtually no soil, using grow bags, buckets or raised beds is essential for fresh produce. You can even grow leafy greens and other veggies indoors in the winter with LED grow lights and the Kratky container method, using any kind of food-safe container.
We are not helpless. A little knowledge goes a long way towards surviving whatever may come our way.
It wasn’t just the food back then Eagle 61.
No kid had their own phone or two hundred dollar shoes.
We shared toys and clothes.
Some of my grand kids now, each have in their room at this moment more clothes, toys and books than I had during my entire childhood.
The intense consumption and things that so many think they must have is going to cause a lot of problems when the money runs out.
Shopping and having something new around the house seems to be some kind of addiction.
We received new clothes and toys at Christmas and on our birthdays.
My mother did not browse or window shop in malls for hours because she was bored.
Our family was not force fed constant needs to have this or that by advertisement and 24/7 access to never ending TV.
Many are going to have more problems than food, giving up buying new stuff all the time and more more more is going to cut deep.
Most people don’t realize the main goal of ‘marketing’, is to separate one from their money. Marketing is what sends us to by ‘new’ stuff that we don’t need. Or really want…but succumb via impulse buying. Marketing is heavily invested in studying the psyche of the consumer. I wonder why/s?
I believe if many resisted the impulse buy, that alone would send a message to the people who make and produce worthless stuff we don’t really need or want…if one can resist and revisit the idea of a purchase for about 3 days, one may conclude that its not really a need or want.
I do that all the time when I feel the spending impulse then I feel so proud that I resisted….kinda a game I play with myself.
And I have come to hate shopping as I have aged!
Yep!
And don’t forget a few chickens for eggs. Easy to care for, and eggs are an excellent source of protein and fat.
Lots of good info on YouTube on how to garden, including the Kratky method.
Every mouthful of food you produce is one step closer to freedom from the Globalists!
Powered Milk and lots of tuna casseroles. Beef was hamburger once a week maybe. And half of the back yard tilled into a vegetable garden. The Seventies.
Hamburger Helper was often on our table.
Hamburger and potato soup. One pound of hamburger, several pounds of spuds, water, salt, pepper and a couple of beef bouillon cubes.
Fed a family of six for at least two dinners.
Not fancy, but we survived.
The best way to improve the mileage of your vehicle, is to “adjust that big nut, that sits right behind the steering wheel”.
Do an I-net search for “hyper-milers”; these are people who, as a hobby try to see how much than can improve the mileage of their vehicles.
They have tried ALL the tricks, from magnets on the fuel line, to “zero-clearance” modifications, but consistently have found the greatest returns come from “adjusting that nut” i.e. YOUR DRIVING HABITS.
There ARE tricks they have developed, that CAN help reduce your fuel usage.
It takes a conscious effort, to change HOW you drive.
Very true Dutchman it is the lifestyle.
My daughters in law and sons are driving the grand kids to sports practice and play practice and after school this and that to no end.
They are constantly on the road somewhere it seems.
Changing the mindset of consuming is going to be hard and it is more than just trying to buy food.
I posted above that we did not have an endless amount of new stuff coming into the house daily.
A lot of my friends families had only one car and Dad took it to work, Mom stayed pretty close to home.
People kept busy doing things, not buying things or doing things that cost money to do.
The mental change is going to be very hard for a lot of people who like to jump into the car and run to the store for something they forgot or just to “get out” and go and get a burger.
When we were growing up Home and Family was the center of everything and it did not cost much.
Now families spend very little time there and their lives have become expensive and food will be only one of the problems of them trying to learn how to live.
Agree agree!!!!
For us 70+ folks who have been through this a few times know it usually takes a regime change to turn the economy around.
So a year is very optimistic. MORE, a lot more, is probable, given the purposeful means being used to destroy our economy and country!
Semper Fi America!!
This is different than the 70’s because big government is nickle and diming (excessively taxing) everyone to death.
Many of us predicted this mess over 20 years ago but few would listen, just like now.
As a hedge, I bought inflation indexed bonds (I Bonds) in 2000-2003 and this morning the interest rate I’m getting is 12.76%. I’m thinking that it has to go higher!
That rate is on a balance that has been accumulating interest for 20 years (albeit at ~3%-4%).
I’m laughing all the way to the bank because this money is going to (eventually) come out of the pockets of the younger people who probably were Biden voters so I don’t care.
As I keep a “cushion” of several $1000 in savings, I look forward actually getting a return.
I remember when retirees were LOVING the returns they were getting on 1-2 year CD’s.
Retired Magistrate here: Went to the grocery store today; used my coupons and found unadvertised deals on processed and non processed food items. As a result, my $113 dollar expenditure came down to $73.
My Dad didn’t earn much and my Mother was a stay at home Mom, but she was a smart shopper and taught me a lot about ways to save grocery shopping and how to make do with what you have, repair it or do without.
Both my parents lived through the Great Depression and World War II. My father had scarlet fever and TB but survived both of those diseases. My mother grew up on a dairy farm in Southern Ohio and did the same physical labor as her brothers. So I grew up with a good work ethic.
We can survive this. During the Carter years I was a police officer and didn’t make much money, however, I was able to survive even with the gas rationing and electricity rationing. Take one day at a time. Don’t worry about tomorrow because worrying won’t change a thing about how tomorrow will turn out; however, it will ruin today. That doesn’t mean that you should not plan, we should all have a plan about how to survive and even thrive during these difficult times.
Finally, remember to thank GOD for what you do have.
Good advice Marcia.
It’s not an administration, it’s an attack!
You just know the left is itching to bring back wage-price controls because of the power it wields. There is no such thing as economics to the left. It is all a matter of who makes the decisions and who gets the rewards. That’s it. Supply and demand is conspiracy talk and white supremacy.
I would think that a year is overly optimistic. What are they going to think when the realization sets in that DC doesn’t care about it.
I think We all know that the District of Corruption has little regard for the proles….except as tax slaves.
We’ve moved on beyond that realization many years ago. So we must focus on our family and friends.
We are all old-time Boy Scouts and will always “Be Prepared”.
This doesn’t affect politicians or bureaucrats or contractors. I’d be willing to be that most of the millions of people in the DC metro area don’t know what milk or eggs etc. cost or what they cost last month or last year.
They may notice the gas prices, but they have so much disposable income it doesn’t affect them.
It’s currency collapse, not stagflation
It’s the worst of all worlds…
https://ibb.co/qBz9wQH
Yes!
It will last as long as DemonRats and Rhinocrats are in DC, acting as if they run everything.
You can be sure this won’t end well. What is really fun, those in DC are doomed to die with the rest of us. So, their to stupid to know or they are suicidal. May be caused by their advances age and drug addiction.
The logic that this crisis can be cured in less than three years is a falacy…and if the democrats can somehow cheat for the next midterms and presidential election you may well be looking at decades of inflation.
Fact is with so many coming across the southern borders…. and relying on the system…. so few minorities wanting to work……. inflation and taxes are inevitable simply because we do not have the money to spend.
Well unless you are a rogue country that nobody wanted a year ago who are now angels getting a billion whenever they want it.
The history of the world has been very much directed and shaped, for many centuries, by the scarcity and therefore the expense of basic consumer goods.
Columbus, and many other explorers, were trying to find a faster cheaper way to reach the Spice Islands (now Indonesia) and bring back the black pepper and other spices so valuable to the feudal rulers of Europe. You don’t really think Magellan died in the Philippines for the greater glory of Portugal?
The leftist dopes understand this halfway, like they sort of halfway understand most things (hello, AOC). When gasoline becomes so expensive it is beyond the reach of the common man, it will certainly change the world.
But as energy becomes more expensive, electricity becomes more expensive. How could expensive electricity possibly benefit the computer industry – Facebook, Netflix, Microsoft and now Disney? When people turn off their TVs and computers simply because they can’t afford to run them, how will the billionaire corporatists who have so perverted our world find any way to benefit? They can’t and they won’t.
As Homer Simpson said, just before all the TVs went off – D’Oh!
The remaining thirty five percent are the same derelicts that approve of JoeBama. Probably comprised mostly of government workers.
As long as rates keep climbing, most people o. adjustable mortgages are going to get killed. Rents are dependent on property taxes and interest rates. The fed will have to be ever more vigilant in fighting this BEAST! Good luck with that one. Because it will take some balls of steel to tame this beast.
They don’t want to tame it.
They want to collapse it.
All of this news affects me. As a teacher, I don’t make much and could use some advice. There’s no group of people and Sundance that I trust more. I was very ill for two years and lived off credit cards. I’ve got it down to about $20k. I could get a personal loan at a decent interest rate to pay it all off.
Sundance mentioned that even a fixed interest loan could go up. Is it worth trying to pay it off the debt with a loan? My credit is creeping back up, but does it matter? I’m trying to avoid bankruptcy but does that matter either!
If you have some thoughts, I’d like to hear them.
Do not pay it off, pay the interest only plus a little on the principal. I hope your debt is a fixed interest type, if not find one that is and payoff what you have with that. And yes if worse times come, it is unsecured debt so file Chapter 11.
Silly, the inflation is intentional from the Neocon/Neolib psychos wearing silk suits and platinum jewelry. It will stop when they are defenestrated and replaced with knowledgeable people, especially engineers and mathematicians, who will be hard to find anymore because the American system of education discourages knowledge in favor of venality.
I wasnt around/too young in 70’s-80’s to remember it, but my understanding is that the inflation of that time, has never gone away.
It wont this time either.
Agree. It hasn’t.
I can’t remember exactly what the price of coffee was in the 70’s but I definitely remember when the Carter stagflation hit, we were all shocked how much it had gone up.
And we would be amazed at that same post-stagflation low price today….
A lowering tide swamps all boats…
The people who refuse to admit the election was stolen probably need to suffer a little bit more.
None of this needed to happen, stolen elections have severe consequences.
No retirement for me next year. No amount of savings / 401K is safe with this junta in power.
Revised plans are to work until no longer able and hope that is sufficient.
See Venezuela.
Hope things work out for you. Millions will soon be joining you.
Throughout most of human history people worked till they dropped dead. What we have had since the end of World War II was an aberration, a one time event in historical time.
Our country has been looted. Our treasure is gone and replaced with endless debt.
You want to stop our economic decline “on a dime”?
Reinstall the rightful President in the White House.
At some point their damage will allow the long term goal to be introduced :
” Seize the means of production ”
Change my mind.
Sort of like the movie “Atlas Shrugged”
The book was even better.
All Nigerian airlines say they will stop flying their domestic routes indefinitely from Monday after spike in jet-fuel prices — emerging markets are getting priced out as refined oil product prices skyrocket
https://guardian.ng/news/local-airlines-to-shut-operations-monday-as-jet-a1-hits-n700-litre/
Soon whole trucking companies will be shutting down and mothballing their trucks
We are unable to deliver your order. You must come and pick it up. We no longer deliver.
Often overlooked, US consumer debt approaches $16 trillion – about $11 trillion in mortgages, and the rest split amongst student loans, credit cards, auto loans etc.
But while the government can print money to refinance, US consumers can’t.
The prices will never come down again on food, and utilities. I hope Putin massacres Biden while he sleeps!
Nigeria is grounding airlines because of fuel costs.
…..” (Bloomberg) — Nigeria will become the first nation to ground flights on Monday as surging prices for aviation fuel make business unprofitable.
Airline operators “will discontinue operations nationwide” until further notice, their union said in a statement. It’s the latest sign of the widespread impact that Russia’s invasion of Ukraine is having.
Nigeria’s 23 airlines say they have been “subsidizing” flights for the past four months and can no longer absorb the costs after the price of aviation fuel more than tripled to 700 naira ($1.68) per liter.
Grounding flights may hurt Africa’s biggest economy, where the International Monetary Fund already forecasts growth will slow this year and next”………
https://www.bnnbloomberg.ca/nigeria-is-first-nation-to-ground-flights-as-fuel-costs-soar-1.1762458
There’s that 3/1 spread again.
https://ibb.co/qBz9wQH
It’s the Worst of All Worlds…
Here we go, the Illinois Primary Variant”, primaries are June 28th.
https://www.fox32chicago.com/news/illinois-health-30633-covid-19-cases-46-deaths-past-week
” the U.S. government (Biden administration) needs inflation in order to sustain debt.”
Make no mistake inflation is a planned feature. For DC inflation is a matter of national security. It reduces dept, allows for more spending and pushes the can down the road. Also it is a stealth tax; if the govt added a 20% tax there would be a revolt, however if they do it via inflation it provides some cover.
Our economy is like the proverbial slow motion train wreck
Inflation will continue until an American returns to the White House.
Brought to you by Robert Gore – please click thru to read the article. Balance sheets for all main central banks have gone asymptotic. The entire Globalist economy is a giant pyramid scam. Serfs, kulaks, and peons of the world, unite to pull down the walls and cast the moneychangers out of the temple! This is a global problem and only enlightened, God-fearing, self-interested Nationalism can breach it and return sanity to an insane system. You, me, and everyone you can see are responsible for being asleep at the switch, and we must all awaken and take up arms to correct this course, nation by nation.
God help us.
https://straightlinelogic.com/2022/05/06/david-stockman-on-the-monetary-madness-among-the-central-bankers/
I don’t even want to imagine how stupid one would have to be to actually believe this is going away in a couple of months. How many times do people need to be smacked in the face before they understand they’re being attacked?
TARFU
This fox pole is ignorant. They are still pumping dollars into the system. Now over 21 trillion. End of recession? the effect of this cash dump will take 10 years at a 5% GDP growth rate.
what’s w/Fox? your average Joe has no clue how long inflation will last.
The Powers That Be have made a call to ***accelerate Agenda 2030***. If they are successful, and I personally don’t think that’s possible with an armed populace, the economy is going to be in tatters for decades. But, we’ll see what happens.
Having arms is good, but you need ammo, too.
It took Reagan’s economic policies into the mid-80s to tame inflation after the Carter years; Biden is more disastrous and has only begun.
Scenario 1: fed rate hikes, economy and markets collapse, asset price collapses lead to widespread bank insolvency, job losses and depression, fed prints QE to infinity
Scenario 2: same as above except fed continues printing somewhat limited currency, this is given to favored groups at no or low interest rates, they use it to buy up everything so it can be rented to us peons forever, implementing their dreamscape rentier society where we own nothing and they are happy we are impoverished and miserable.
#2 is what they are aiming for.
I’d say the numbers from cnn are just a bit high. He seems to lose more than his base normally even has.
2022 The year of grow your own and we don’t mean pot.
What is the value of a poll on a flock if sheep being led to slaughter?
Inflation or devaluation of the dollar or both?
Has US so indebted it’s future that it can no longer afford to sustain without printing more money? Can US afford its debt with these increasing rates of interest? And then there are the government guarantee programs which far exceed our debt. And what about the dollar reserve currency issues playing out today?
Like the individual who lives by paying off one credit card with another, there is an “AHAH!”
moment.
We were there under Obama when the credit agencies attempted to reduce US credit ratings but succumbed to pressure not to. Anybody hearing anything from these credit agencies now? Why not?
We are way past the Obama concern now. And nothing?
And then there is the trillions in derivative markets with party/counterparty arrangements.