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Inflation Beyond the Stars Thread for April 12
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2022 Apr 12, 12:49am 148,424 views 1,541 comments
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829
AD
2024 Mar 12, 7:56pm
AD
2024 Mar 12, 7:56pm
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Annual inflation is at 3.2% as forecasted. Recall Jerome Powell said he was open to lowering the Fed Funds rate from 5.5% (a 23 year high) if inflation remained between 2 and 3%. Maybe the Fed will lower it to 5.25% just to make some token gesture this summer. From what I recall, the Fed usually keeps the Fed Funds rate about 1.5% above annual inflation once inflation steadies.
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https://www.cnbc.com/2024/03/12/cpi-inflation-report-february-2024-.html
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Annual inflation is at 3.2% as forecasted. Recall Jerome Powell said he was open to lowering the Fed Funds rate from 5.5% (a 23 year high) if inflation remained between 2 and 3%. Maybe the Fed will lower it to 5.25% just to make some token gesture this summer. From what I recall, the Fed usually keeps the Fed Funds rate about 1.5% above annual inflation once inflation steadies.
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https://www.cnbc.com/2024/03/12/cpi-inflation-report-february-2024-.html
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831
zzyzzx
2024 Mar 13, 8:55am
zzyzzx
2024 Mar 13, 8:55am
AD says
Only if you believe government manipulated numbers.
Annual inflation is at 3.2% as forecasted.
Only if you believe government manipulated numbers.
832
Misc
2024 Mar 13, 9:07am
It all depends who you are.
If you refinanced your mortgage at less than 3%, then sure inflation is at 3.2%
If you are looking at buying a house, well house payments for a 30 year loan are 80% higher than in 2021.
If you are looking at attending college, well the average person coming out still has about $30k of student loans. However, instead of having to repay them over 20 years at 1.25% (total cost of about $37k) the student has to repay over the 20 years at 5.5% (total cost of about $85k).
Sucks to be a young adult today.
If you refinanced your mortgage at less than 3%, then sure inflation is at 3.2%
If you are looking at buying a house, well house payments for a 30 year loan are 80% higher than in 2021.
If you are looking at attending college, well the average person coming out still has about $30k of student loans. However, instead of having to repay them over 20 years at 1.25% (total cost of about $37k) the student has to repay over the 20 years at 5.5% (total cost of about $85k).
Sucks to be a young adult today.
834
AD
2024 Mar 13, 10:55pm
AD
2024 Mar 13, 10:55pm
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39 cents for Burger King Whopper in 1963 ... its about $6.50 now just for the whopper, and about $10 for a Whopper meal of fries and drink at the Burger King on Thomas Drive across from the Naval Base in Panama City Beach.
4.75% annual inflation from 1963 to 2024 for the Whopper price. I doubt wages went up that much during this period. I think working class people have a very valid concern about their buying power.
39 cents for Burger King Whopper in 1963 ... its about $6.50 now just for the whopper, and about $10 for a Whopper meal of fries and drink at the Burger King on Thomas Drive across from the Naval Base in Panama City Beach.
4.75% annual inflation from 1963 to 2024 for the Whopper price. I doubt wages went up that much during this period. I think working class people have a very valid concern about their buying power.
836
zzyzzx
2024 Mar 14, 6:38am
zzyzzx
2024 Mar 14, 6:38am
https://finance.yahoo.com/news/us-wholesale-prices-picked-february-124217277.html
US wholesale prices picked up in February in sign that inflation pressures remain elevated
US wholesale prices picked up in February in sign that inflation pressures remain elevated
837
Patrick
2024 Mar 16, 12:40pm
I poked around and this could be true in some city. Here's Amarillo, TX, for example:
https://www.gasbuddy.com/charts
Patrick
2024 Mar 16, 12:40pm
I poked around and this could be true in some city. Here's Amarillo, TX, for example:
https://www.gasbuddy.com/charts
838
AD
2024 Mar 16, 1:39pm
AD
2024 Mar 16, 1:39pm
Patrick says
Yes when there was panic in the oil market right after the first COVID lockdown announcement.
I think it was lowest at $1.25 at the gas pumps of a convenience store/vape shop off of Martin Luther King Blvd in Panama City.
I think lower Louisiana has the lowest gas prices in the country.
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I poked around and this could be true in some city. Here's Amarillo, TX, for example:
https://www.gasbuddy.com/charts
Yes when there was panic in the oil market right after the first COVID lockdown announcement.
I think it was lowest at $1.25 at the gas pumps of a convenience store/vape shop off of Martin Luther King Blvd in Panama City.
I think lower Louisiana has the lowest gas prices in the country.
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852
zzyzzx
2024 Mar 22, 9:52am
zzyzzx
2024 Mar 22, 9:52am
All this bacon is the same price, they just have the new and old sizes mixed together:
854
zzyzzx
2024 Mar 22, 11:10am
zzyzzx
2024 Mar 22, 11:10am
https://finance.yahoo.com/news/american-dream-2-kids-house-161651193.html
The ‘American Dream’ of 2 Kids, a House and a Car Now Costs $3.4 Million
The ‘American Dream’ of 2 Kids, a House and a Car Now Costs $3.4 Million
856
Misc
2024 Mar 22, 11:10pm
In another plea to vote Democrat and we'll give ya free stuff. Bernie Sanders puts forth a bill to have the work week cut from 40 hours to 32 hours and the pay remains the same. Politicians simply don't know where the value of money comes from. Making a law does not increase the value of what is being made. They have no idea how the labor force would increase by 20% to keep the same output as we have now, and they believe that everything they propose occurs in a vacuum where prices just stay the same.
... or maybe the politicians do know what they are proposing is crap, but believe the people will see it as something for nothing and vote for them.
I am in the group that believes the politicians are just clueless.
https://www.msn.com/en-us/news/politics/32-hour-workweek-bill-gets-boost-as-new-poll-shows-americans-approve/ss-BB1klNzX
... or maybe the politicians do know what they are proposing is crap, but believe the people will see it as something for nothing and vote for them.
I am in the group that believes the politicians are just clueless.
https://www.msn.com/en-us/news/politics/32-hour-workweek-bill-gets-boost-as-new-poll-shows-americans-approve/ss-BB1klNzX
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https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net