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Tighten your wallets
Posted by: macphanatic
Date: June 10, 2022 02:01PM
Bureau of Labor Statistics just released May Consumer Price increase from 2021
- Gas +48.7%
- Energy prices +34.6%
- Used Cars +16.1%
- Food +10.1%
- Shelter +5.5%

Inflation rate of 8.6% from May to May. This is higher than the predicted 8.3%

And the outlook isn't good. Inflation is reducing consumer's purchasing power, which accounts for roughly 70% of our economy.

While shelter costs had the most modest increase, it's already one of the largest expenses that most consumers have, its impact is pretty big.

The Fed is now challenged with how to fight inflation without plunging our economy into a recession.
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Re: Tighten your wallets
Posted by: Acer
Date: June 10, 2022 02:05PM
Recession may be the only way out.

Look on the bright side, maybe savings accounts will break out of the 0.5% range.
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Re: Tighten your wallets
Posted by: Speedy
Date: June 10, 2022 02:36PM
Full employment is going to cause inflation. Throw in COVID45 and supply chain issues and inflation just gets worse. Want to lower inflation? Open the southern border.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Tighten your wallets
Posted by: clay
Date: June 10, 2022 03:10PM
Quote
Acer
Recession may be the only way out.

Look on the bright side, maybe savings accounts will break out of the 0.5% range.

Ally just bumped their rates up to 0.90%, FYI. Second or third increase in a couple of months.
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Re: Tighten your wallets
Posted by: cbelt3
Date: June 10, 2022 03:16PM
It's the damn 80's all over again.... geesh.
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Re: Tighten your wallets
Posted by: Acer
Date: June 10, 2022 03:37PM
Quote
cbelt3
It's the damn 80's all over again.... geesh.

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Re: Tighten your wallets
Posted by: RgrF
Date: June 10, 2022 03:37PM
How are corporate profits weathering the storm?
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Re: Tighten your wallets
Posted by: Filliam H. Muffman
Date: June 10, 2022 04:25PM




In tha 360. MRF User Map
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Re: Tighten your wallets
Posted by: $tevie
Date: June 10, 2022 04:53PM
What's worse is that Biden is causing inflation all over Europe!!!!
Quote

Inflation in the eurozone hit a new record of 8.1 per cent in May, up from 7.4 per cent in April, amid soaring energy and food prices fuelled in part by Russia’s war in Ukraine.

The preliminary estimate published on Tuesday by Eurostat, the European Union's statistical office, is the highest since recordkeeping for the eurozone began in 1997.

The steepest annual inflation rate was for energy prices, at 39.2 per cent compared with 37.5 per cent in April. That was followed by food, alcohol and tobacco (7.5 per cent), industrial goods (4.2 per cent) and services (3.5 per cent), all up on April's inflation figures.

Every corner of the continent is facing rising prices, with Europe's expected economic bounceback from the coronavirus pandemic being hampered by a number of factors.

Inflation for the whole of the EU is expected to reach 6.8 per cent this year, as Russia’s war on Ukraine - and the breakdown of economic relations between Moscow and most of the rest of Europe - continues to hit economies.
[www.euronews.com]



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Re: Tighten your wallets
Posted by: Steve G.
Date: June 10, 2022 05:05PM
[forums.macresource.com]
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Re: Tighten your wallets
Posted by: N-OS X-tasy!
Date: June 10, 2022 05:07PM
...and hold on to your butts!



It is what it is.
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Re: Tighten your wallets
Posted by: Bill in NC
Date: June 10, 2022 06:00PM
Quote
Acer
Recession may be the only way out.

Or years and years of stagflation.
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Re: Tighten your wallets
Posted by: NewtonMP2100
Date: June 10, 2022 06:36PM
....and jeans [ hate skinny jeans ].....????



_____________________________________

I reject your reality and substitute my own!
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Re: Tighten your wallets
Posted by: bfd
Date: June 10, 2022 08:12PM
Just how much money was pizzed away in Iraq and Afghanistan? That money wasn't growing on trees, was it? We're finally paying the price for a bunch of nonsense most don't even remember now. The stuff going on now? Your grandkids will pay for that.
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Re: Tighten your wallets
Posted by: gabester
Date: June 10, 2022 11:17PM
Simple economics:

Inflation sucks for wealth holders.

OTOH, it helps those who have debt.

We hear a lot more about it from the standpoint of the former because the holders of the wealth always seem to get the most speaking time for some reason.



g=
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Re: Tighten your wallets
Posted by: DeusxMac
Date: June 11, 2022 01:18AM
Quote
gabester
Simple economics:

Inflation sucks for wealth holders.

OTOH, it helps those who have debt.

We hear a lot more about it from the standpoint of the former because the holders of the wealth always seem to get the most speaking time for some reason.

“When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.”

“…with inflation, those segments in society which own physical assets, such as property, stock etc., benefit from the price/value of their holdings going up, when those who seek to acquire them will need to pay more for them ”


Inflation sucks especially for anyone on a fixed income.
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Re: Tighten your wallets
Posted by: kj
Date: June 11, 2022 02:12PM
Quote
DeusxMac
Quote
gabester
Simple economics:

Inflation sucks for wealth holders.

OTOH, it helps those who have debt.

We hear a lot more about it from the standpoint of the former because the holders of the wealth always seem to get the most speaking time for some reason.

“When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.”

“…with inflation, those segments in society which own physical assets, such as property, stock etc., benefit from the price/value of their holdings going up, when those who seek to acquire them will need to pay more for them ”


Inflation sucks especially for anyone on a fixed income.

If you know people who aren't wealthy, you know that isn't true. It's fricken killing poor people. Just one example would be that people who work in a city can't afford to live in the city, so they are paying huge amounts to commute. For 14/hr. jobs. And that's just one thing.

Open the southern border and we have an even larger flood of drugs etc. and all the "progress" we've made on low paying jobs as far as increased wages will disappear immediately. That hurts poor people, and helps the more wealthy. Unless we made the immigration legit, which would mean we couldn't take advantage of illegal immigrants, so I doubt it would help inflation. We're reaping what we sewed, so it is what it is.
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Re: Tighten your wallets
Posted by: bfd
Date: June 11, 2022 07:01PM
Biden agreed to allow 20,000 refugees from the Americas come on in.

Problem is, there are literally millions waiting to just come on in.…

It seems unlikely any of them intend to bring drugs over with them.
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Re: Tighten your wallets
Posted by: RgrF
Date: June 11, 2022 08:25PM
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Re: Tighten your wallets
Posted by: pdq
Date: June 12, 2022 08:38AM
Thanks RgrF. That’s a very useful infographic.
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Re: Tighten your wallets
Posted by: RgrF
Date: June 12, 2022 08:09PM
Another chart, this on gas prices:

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Re: Tighten your wallets
Posted by: Racer X
Date: June 12, 2022 10:04PM
If the average price of gasoline is $5, and in some places in the $7+ range, where is it around $4, so the average is $5?



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Re: Tighten your wallets
Posted by: AllGold
Date: June 13, 2022 02:02AM
Quote
Racer X
If the average price of gasoline is $5, and in some places in the $7+ range, where is it around $4, so the average is $5?

The south mostly. And some of the less populated states in the midwest.

[www.gasbuddy.com]



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Re: Tighten your wallets
Posted by: Bill in NC
Date: June 13, 2022 07:12AM
Yep, $4.67 here.
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Re: Tighten your wallets
Posted by: DeusxMac
Date: June 13, 2022 07:37AM
Quote
AllGold
Quote
Racer X
If the average price of gasoline is $5, and in some places in the $7+ range, where is it around $4, so the average is $5?

The south mostly. And some of the less populated states in the midwest.

[www.gasbuddy.com]

Gasoline pricing has had a “What the traffic will bear” component for a long time (always?).

If an area is broadly financially unable to pay for $7/gallon gas, it will be kept below that as long as possible.
Note; dealers costs of running stations in those areas are usually lower as well.

Conversely, the wealthiest areas almost always have the highest prices per gallon (and the highest costs for running a station.)
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Re: Tighten your wallets
Posted by: kj
Date: June 13, 2022 06:22PM
Quote
bfd
Biden agreed to allow 20,000 refugees from the Americas come on in.

Problem is, there are literally millions waiting to just come on in.…

It seems unlikely any of them intend to bring drugs over with them.

If you open the southern borders, it will make it a lot easier to bring drugs and supplies to make drugs into the U.S.

If Biden lets people immigrate legitimately, it isn't going to help anything. Businesses need people who will work their asses off for nothing. Illegals.
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Re: Tighten your wallets
Posted by: kj
Date: June 13, 2022 06:27PM
Quote
Racer X
If the average price of gasoline is $5, and in some places in the $7+ range, where is it around $4, so the average is $5?

It's very possible for gas to be $5 almost everywhere, and $7 some places and still have an average of $5. Plus, are they talking mean, median or mode?
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Re: Tighten your wallets
Posted by: Acer
Date: June 13, 2022 08:00PM
"Open southern borders" doesn't mean open the gates and let 'er rip. We have can have quotas (which we already do), we can raise them. People can apply, industry can request, candidates to enter can be screened.
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Re: Tighten your wallets
Posted by: Speedy
Date: June 13, 2022 10:43PM
Quote
kj
Quote
bfd
Biden agreed to allow 20,000 refugees from the Americas come on in.

Problem is, there are literally millions waiting to just come on in.…

It seems unlikely any of them intend to bring drugs over with them.

If you open the southern borders, it will make it a lot easier to bring drugs and supplies to make drugs into the U.S.

If Biden lets people immigrate legitimately, it isn't going to help anything. Businesses need people who will work their asses off for nothing. Illegals.

Let’em bring in all the drugs they want. Make street drugs legal and cheap or free. Same for addiction treatment.

No, businesses need hard workers who show up everyday. If they work cheap, that’s a plus but not really the main thing. When I owned a business having everyone show up was paramount. Working hard wasn’t too difficult as groups tend to pull their weight or they move out those who don’t (not an issue for someone who made their way from Guatemala through Mexico). Working cheap was far down my list of requirements. The Chamber desperately wants more immigrant workers for its members. I want unlimited immigrants to pay my social security. I don’t want the USA to go the way of Japan,



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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