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Inflation Beyond the Stars Thread for April 12


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2022 Apr 12, 12:49am   144,607 views  1,482 comments

by AmericanKulak   ➕follow (8)   💰tip   ignore  

Since we know the numbers are going to suck since Peppermint Patty is leading the Amen Corner Media to blame Putin for it:
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

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892   zzyzzx   2024 Apr 3, 8:20am  

You only get a 1/2 slice of cheese now:


896   zzyzzx   2024 Apr 3, 10:36am  

https://www.bloomberg.com/news/articles/2024-04-02/saving-for-retirement-americans-say-they-need-1-5-million

Americans Now Say They Need $1.5 Million to Retire

Retirement is becoming an even more distant goal as higher costs cut into American budgets.

A typical person now believes they need $1.5 million to retire comfortably, which is nearly 17 times more than the $88,400 savers have set aside on average, a Northwestern Mutual study shows.

The gap, up 16% from last year, highlights the challenges coming into focus as the over-65 population in the US increases and Americans face the prospect of financing longer life spans and potential cuts to Social Security benefits.

“People’s ‘magic number’ is now 50% higher than it was during the pandemic,” said Aditi Javeri Gokhale, chief strategy officer at Northwestern Mutual. “Soaring costs are putting more pressure on consumers to plan and be disciplined savers, and everyone knows they will need more money as they live longer.”

Gen Z and millennials set the bar for a comfortable retirement the highest, at more than $1.6 million. Gen X was close behind. And the generation closest to retirement, the baby boomers, set the bar lowest, at $990,000. “Boomers have a better feel for their numbers and they don’t believe they will live as long as Gen Z, which expects to retire at 60 and live to 100,” said Javeri Gokhale.

Breaking out the size of current retirement accounts by generation reveals the daunting obstacles for savers of all ages. The average amounts saved were $22,800 for Gen Z, $62,600 for millennials, $108,600 for Gen X and $120,300 for boomers.

Tax Planning One way to help bridge that gap is through advanced tax planning to spread assets among accounts that are taxed differently.

“Many people put money in 401(k)s but don’t realize that in retirement that income will likely be taxed at about 20% or 30%,” said Javeri Gokhale. Withdrawals from traditional 401(k)s in retirement count as ordinary income so that can push retirees into a higher tax bracket.

Of the 30% of Americans surveyed who did have a plan to minimize taxes on retirement income, about a third said they would make strategic withdrawals from traditional tax-deferred and after-tax Roth retirement accounts in order to stay in a lower tax bracket.
897   AD   2024 Apr 4, 3:34pm  



898   AD   2024 Apr 4, 3:38pm  

zzyzzx says

Americans Now Say They Need $1.5 Million to Retire


.
900   HeadSet   2024 Apr 5, 6:56am  

UkraineIsTotallyFucked says





Who is the intended audience of this article?
902   zzyzzx   2024 Apr 5, 7:20am  

HeadSet says

Who is the intended audience of this article?

Pseudonym for Greg Ipstein?
904   AD   2024 Apr 6, 5:20pm  

HeadSet says

Who is the intended audience of this article?


anyone who does not trust the economic stats being fed to the public ?

.
905   zzyzzx   2024 Apr 8, 10:17am  

Evolution of shrinking bag sizes over time:

909   AmericanKulak   2024 Apr 8, 10:51am  

One of the solutions is to make more shit from scratch. Better anyway, and many things aren't that big of a PITA, esp. if you prep several portions at once.
910   HeadSet   2024 Apr 8, 1:07pm  

Think people will start getting thinner now that food costs have shot up?
912   zzyzzx   2024 Apr 9, 8:28am  

HeadSet says

Think people will start getting thinner now that food costs have shot up?


No. Duh.
914   richwicks   2024 Apr 9, 9:24am  

zzyzzx says






What a bizarre advertisement "better butter taste". Why do people continue to eat this fake garbage?
916   zzyzzx   2024 Apr 9, 10:42am  

richwicks says

zzyzzx says







What a bizarre advertisement "better butter taste". Why do people continue to eat this fake garbage?


Because they are too lazy to pop their own popcorn.
918   HeadSet   2024 Apr 10, 5:55am  

Patrick says





The price of generics, like Walmart "Great Value" bread, water. milk, and meats, have doubled. The generics are still cheaper but had higher price increases. Such as Great Value Bread going from sixty cents to $1.40, while the brand name on that chart went from $1.49 to $1.99. Around here though, name brand bread anywhere is around $3.50.

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