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Inflation incoming

By RC2006 follow RC2006   2021 Apr 14, 6:13am 941 views   72 comments   watch   nsfw   quote   share    


Who would have thought. With all the people collecting "free money" and non-stop printing.

https://www.whitehouse.gov/briefing-room/blog/2021/04/12/pandemic-prices-assessing-inflation-in-the-months-and-years-ahead/

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33   clambo   ignore (5)   2021 May 12, 8:56am     ↓ dislike (0)   quote   flag      

@misc
The Swiss stocks are traded to everyone not just the Swiss National Bank.
I’m buying some of them.
If you own an international stock fund you own some too.
The reason for the negative interest rates on Swiss bonds may be the demand for a safe place to put money was very high.
Alternatively, one could buy Swiss stocks individually, but why bother?
I have been to Switzerland and the place is awesome, but that’s off the subject really.
34   B.A.C.A.H.   ignore (0)   2021 May 12, 9:01am     ↓ dislike (0)   quote   flag      

Shaman says
apparently nobody wants to take them on a longer drive.

Maybe they want to, but they can't. It's not practical. How long does it take to recharge, even with one of those fast chargers, compared to refueling?

And running the AC, how much does that increase our fuel consumption? 5% or 10%? Betcha it's worse than that for an EV.
35   NDrLoR   ignore (1)   2021 May 12, 9:05am     ↓ dislike (0)   quote   flag      

Shaman says
But apparently nobody wants to take them on a longer drive
Glorified golf carts.
36   clambo   ignore (5)   2021 May 12, 9:06am     ↓ dislike (0)   quote   flag      

Teslas are overpriced commuter cars.
You need to blast the car AC in Florida 4 months of the year.
That’s going to reduce the car’s range.
37   FuckCCP89   ignore (5)   2021 May 12, 9:06am     ↓ dislike (0)   quote   flag      

B.A.C.A.H. says
And running the AC, how much does that increase our fuel consumption? 5% or 10%?


Not at all. I experimented with one of my cars several years ago: no noticeable difference in fuel consumption between "auto", "econ" and "a/c off".
38   FuckCCP89   ignore (5)   2021 May 12, 9:07am     ↓ dislike (0)   quote   flag      

Shaman says
I drove to and from Vegas last weekend from LA. I didn’t see a single EV on the road on the way there and only one on the way back. They’re entirely ubiquitous in LA and OC, see them fucking everywhere! But apparently nobody wants to take them on a longer drive.


There is a taxi company running Teslas between LA and LV. Racked up huge miles on their fleet and claim they don't see any serious battery degradation.
39   mell   ignore (6)   2021 May 12, 9:45am     ↓ dislike (0)   quote   flag      

FuckCCP89 says
Shaman says
I drove to and from Vegas last weekend from LA. I didn’t see a single EV on the road on the way there and only one on the way back. They’re entirely ubiquitous in LA and OC, see them fucking everywhere! But apparently nobody wants to take them on a longer drive.


There is a taxi company running Teslas between LA and LV. Racked up huge miles on their fleet and claim they don't see any serious battery degradation.


At least it's always warm there.
40   Hircus   ignore (0)   2021 May 12, 9:56am     ↓ dislike (1)   quote   flag      

Supposedly the tesla superchargers (the higher tier ones) can deliver some really impressive charging rates now, and improvements are still coming. You can rapidly charge the battery from low to 50%, but charging slows down as the battery gets closer and closer to 100%. I think they say you can get like 200 miles of range in 15 minutes on the charger, which is actually pretty damn good.

Now, that's nice for city driving, and maybe certain long trips where you happen to have those mega chargers spaced perfectly along the highway, as stopping every few hours for a 15-20 min break while it charges isnt a big deal to me. But I can still think of lots of drawbacks compared to gas cars, for now.

But, as larger batteries get more affordable and common (they do have some 600 mile range EVs in the works right now, but they cost $$$), and as charging infrastructure continues to expand, I think EVs will work pretty good for many people.

Personally, I like to drive and do many road trips, and often go rural and explore. Even though the tesla charging station map shows a charger every 200 miles or so, that doesnt mean its convenient to use.

Could you imagine :
-you're on a road trip.
-you stop and charge to near full (which takes time)
-drive north 150 miles, taking you to 60%, where you arrive at a T
-wanting to head west to your destination, but there's no chargers that way, and 60% isnt enough.
-you must instead head east for 70 miles to get to a charging station, where you charge.
-now drive back west, bringing you down to 80% when you reach the T again
-now, you can head west.

All that - 140 miles detour, hours wasted, just to gain a marginal extra charge, so that you can range though this rural area. That would drive me nuts.
42   Eric Holder   ignore (0)   2021 May 12, 10:36am     ↓ dislike (0)   quote   flag      

mell says
FuckCCP89 says
Shaman says
I drove to and from Vegas last weekend from LA. I didn’t see a single EV on the road on the way there and only one on the way back. They’re entirely ubiquitous in LA and OC, see them fucking everywhere! But apparently nobody wants to take them on a longer drive.


There is a taxi company running Teslas between LA and LV. Racked up huge miles on their fleet and claim they don't see any serious battery degradation.


At least it's always warm there.


Gets hot though.
43   Blue   ignore (0)   2021 May 12, 11:53am     ↓ dislike (0)   quote   flag      

Biden is pumping $s wherever he can including things like 'free' $50 internet for some. I am paying $40 that is less than the gov printing press. Most of the money going somewhere else as the numbers don't add up of 'stimulus' ongoing QE part of the rampant total corruption of corporations.
44   rocketjoe79   ignore (1)   2021 May 12, 11:58am     ↓ dislike (0)   quote   flag      

Hircus says
Supposedly the tesla superchargers (the higher tier ones) can deliver some really impressive charging rates now, and improvements are still coming. You can rapidly charge the battery from low to 50%, but charging slows down as the battery gets closer and closer to 100%. I think they say you can get like 200 miles of range in 15 minutes on the charger, which is actually pretty damn good.

Now, that's nice for city driving, and maybe certain long trips where you happen to have those mega chargers spaced perfectly along the highway, as stopping every few hours for a 15-20 min break while it charges isnt a big deal to me. But I can still think of lots of drawbacks compared to gas cars, for now.

But, as larger batteries get more affordable and common (they do have some 600 mile range EVs in the works right now, but they cost $$$), and as charging infrastructure continues to expand, I think EVs will work pretty good for many people.

Personally, I like to d...


Disclosure: I have a Tesla.
22,000 Tesla chargers total so far. Plus a fair number of non-Tesla Chargers, most not as fast charging.
There are about 110,000 Gas stations in the USA.
https://247wallst.com/energy-business/2020/08/02/how-many-gas-stations-are-there-in-u-s-why-its-important-to-know/

Musk was pretty brilliant to deploy the charging network in parallel with ramping EV production. The other companies still haven't caught on and adopted a single standard charger yet!! Honestly, the Government should fund a standard charging system, just like the Interstate System was funded. Instead, Tesla is the really only one who DID ANYTHING.

I'm willing to put up with some inconvenience to own a Tesla. Simple as that. I had to charge for the first time away from home the other day. I picked a 72KW station by mistake and took about 45 minutes to charge up. If I had chosen the 250Kw station less than two miles away, I would have charged up in 15 minutes. There is a learning curve, as with any new tech. But EVERY charging station is loaded into the Tesla Software with colors to show which ones are in range. This is constantly updated with Over The Air Software updates. If you choose to ignore the software and somehow run out of charge, Tesla has Roadside charging assistance.

Maybe Joe Sixpack isn't ready for EV's yet. But soon ICE vehicles will become more expensive and less convenient. "Wow, first thing I have to do today before I go driving is find a gas station!" My Tesla leaves the garage every day filled up.
45   mell   ignore (6)   2021 May 12, 12:55pm     ↓ dislike (0)   quote   flag      

rocketjoe79 says
Hircus says
Supposedly the tesla superchargers (the higher tier ones) can deliver some really impressive charging rates now, and improvements are still coming. You can rapidly charge the battery from low to 50%, but charging slows down as the battery gets closer and closer to 100%. I think they say you can get like 200 miles of range in 15 minutes on the charger, which is actually pretty damn good.

Now, that's nice for city driving, and maybe certain long trips where you happen to have those mega chargers spaced perfectly along the highway, as stopping every few hours for a 15-20 min break while it charges isnt a big deal to me. But I can still think of lots of drawbacks compared to gas cars, for now.

But, as larger batteries get more affordable and common (they do have some 600 mile range EVs in the works right now, but they cost $$$), and as charging infrastructure continues to expand...


I agree with you that TSLA has been ahead of its peers (but that comes with mistakes as well which its legacy peers won't have to repeat) and certainly a great investment early on and it will be a nice part of city and closer commutes, but that doesn't change the fact that there are a lot of challenges to overcome and that will be reflected in the stock price, the current decline shows no end in sight. IMO it will bounce around somewhere between $350-$700 for quite a while, and that is if it can keep meeting analysts expectations.
46   Onvacation   ignore (6)   2021 May 12, 12:59pm     ↓ dislike (0)   quote   flag      

It's just a matter of time before ICE cars are impractical.
47   mell   ignore (6)   2021 May 12, 1:01pm     ↓ dislike (0)   quote   flag      

Onvacation says
It's just a matter of time before ICE cars are impractical.


Not sure about that, but if so, then all the legacy car makers are now also EV car makers and so they all are "just car makers" like they used to be when only ICE were around. With all the margin pressure etc. Also I think that modern diesel are superior to EVs but the governments are obviously bought off by the fake climate change globalists, so it will be hard for alternative engines (also hydrogen and others) to compete with EVs due to government meddling.
49   Patrick   ignore (1)   2021 May 12, 10:58pm     ↓ dislike (0)   quote   flag      

If salaries go up, then housing prices will probably go up too.

But I'm not too sure about salaries going up.
50   Blue   ignore (0)   2021 May 12, 11:04pm     ↓ dislike (0)   quote   flag      

Patrick says
If salaries go up, then housing prices will probably go up too.

But I'm not too sure about salaries going up.

If Biden kept paying for not working, employers have to bump up the pay to get workers.
51   BoomAndBustCycle   ignore (1)   2021 May 13, 12:01am     ↓ dislike (0)   quote   flag      

clambo says
Teslas are overpriced commuter cars.
You need to blast the car AC in Florida 4 months of the year.
That’s going to reduce the car’s range.


AC doesn’t reduce range much at all. Now the heater sure does! I own a Honda Clarity Plug in hybrid. It’s a pretty solid car and I like I can use full EV for daily commute and the hybrid gas for longer drives. But driving it in EV is much more fun and smooth ride. The tiny hybrid engine has trouble if you let the battery run to zero.

I don’t drive much, so I only had to fill up my 7 gallon tank like 4 times this past year. That’s kinda awesome and charging overnight is so easy and convenient.

Driving my clarity has convinced me to buy an EV next vehicle. I just don’t go on that many long drives per year to warrant needing an ICE. And an EV with 250-300 mile range that charges 80% in 15 minutes is pretty standard now.
52   clambo   ignore (5)   2021 May 13, 8:23am     ↓ dislike (0)   quote   flag      

I like the Chevy Bolt.
I might buy one someday if I decide I have reached geezer status and don't like driving much.
In Florida electric rates are 1/3 those of California so it's very economical to drive.
53   NDrLoR   ignore (1)   2021 May 13, 8:56am     ↓ dislike (0)   quote   flag      

Patrick says
If salaries go up, then housing prices will probably go up too.
I think that's called "wage push inflation", but I'm not sure. We had it in the 70's starting in 1974 when about every 18 months we'd get what was called a "blanket" raise where everyone in the company got about 8% or 9% increase to keep up with inflation. In 1976, I had a merit raise and a blanket raise come into effect on the same check and I thought, I'll never need a raise again. In three months a rent increase wiped it out. Employers have gotten wise, now, don't do many of those anymore.
54   FuckCCP89   ignore (5)   2021 May 13, 9:00am     ↓ dislike (0)   quote   flag      

NDrLoR says
Employers have gotten wise, now, don't do many of those anymore.


Yep, nowadays you pretty much need to jump ship for a raise.
56   Bitcoin   ignore (16)   2021 May 13, 10:47am     ↓ dislike (0)   quote   flag      

FuckCCP89 says
Yep, nowadays you pretty much need to jump ship for a raise.


only avg, joes.
High performers at successful companies get high boni, RSU's and nice pay raises. That's what I got for last years performance plus work from home.
Have to admit, the company also had its best year in 2020 in its history.
57   zzyzzx   ignore (2)   2021 May 13, 10:49am     ↓ dislike (0)   quote   flag      

FuckCCP89 says
Yep, nowadays you pretty much need to jump ship for a raise.


It's been that way for decades.
58   RC2006   ignore (2)   2021 May 18, 12:11pm     ↓ dislike (0)   quote   flag      

Will inflation stop any chance of bubbles popping? House being a hard asset will increase from inflation countering any bubble popping and same with stocks? Maybe at worse the decreases we were expecting will be countered and stay flat.

What are you guys putting your money into as a counter?
59   WookieMan   ignore (7)   2021 May 18, 12:45pm     ↓ dislike (0)   quote   flag      

Blue says
Patrick says
If salaries go up, then housing prices will probably go up too.

But I'm not too sure about salaries going up.

If Biden kept paying for not working, employers have to bump up the pay to get workers.

And they are. $7,500 bonus to drive a non-CDL van (3 rows) for airport transfers in Chicagoland. No one wants to work. Employers are paying you just to apply.

Servers aren't coming back to restaurants. Low wage labor doesn't have to go back to work (for now) if they were laid off. No incentive to do so. Won't change until the extra UE benefits go away. Otherwise expect long waits where low wage service labor is required as things get somewhat back to normal. The demand will outpace the staff available at a lot of establishments.
60   RC2006   ignore (2)   2021 May 18, 12:56pm     ↓ dislike (0)   quote   flag      

Dems cause hyperinflation, gov debt goes down, pay goes up more taxes, properties go up more taxes, stocks go up more taxes. Seems lile what they are trying to do but it's a dangerous game.
61   Patrick   ignore (1)   2021 May 18, 1:14pm     ↓ dislike (0)   quote   flag      

This woman has some good insights:

https://www.lynalden.com/may-2021-newsletter/

... at the end of a long-term debt cycle, debt levels get so large relative to the size of the economy that it becomes impossible to deleverage them nominally without crashing the economy, so instead the denominators are increased: the monetary base, the broad money supply, and nominal GDP with a significant inflation component. The mechanism to do this involves large monetized fiscal deficits, accompanied by a central bank willing to hold rates well below the prevailing inflation rate for a while, which effectively inflates portions of the debt away.

The alternative to this process is a deflationary economic collapse, which is a route that the public and policymakers around the world rarely if ever choose. In other words, when push comes to shove and the system is pushed to its limits, policymakers invariably print.
65   theoakman   ignore (0)   2021 Jun 10, 9:25am     ↓ dislike (0)   quote   flag      

You can play the EV market by buying Magna International. They are already profitable and makes parts for the EV market. Kinda like, don't bet on a particular country in the war, just the company building the bombs.
66   WookieMan   ignore (7)   2021 Jun 10, 9:30am     ↓ dislike (0)   quote   flag      

Bitcoin says
High performers at successful companies get high boni, RSU's and nice pay raises.

You're a unicorn then. The owners don't pass on the inflation gains this early in the cycle. Hence why I'll never work for someone else again, besides the customer for a business I own. Done working for others and they get the fruits of my labor. The owners are just another hand in the cookie jar that do dick for the money they get besides the risk. So I've decided to become the owner.
67   Bitcoin   ignore (16)   2021 Jun 10, 10:25am     ↓ dislike (0)   quote   flag      

WookieMan says
Bitcoin says
High performers at successful companies get high boni, RSU's and nice pay raises.

You're a unicorn then. The owners don't pass on the inflation gains this early in the cycle


Good for you to be the owner. Agree, I wouldnt give out 6-8% across the board in pay raises just because inflation is running at 5% if i am the owner.

What i am talking about is high paying jobs at companies like in tech (shareholder owned corp). A director on avg makes about 250k. Does that person care if inflation is running at 2, 3 or 5%? I'd say not really. If your perform well its expected the company pays a raise above inflation. not to everyone, but to those that are rated highly (annually). The avg raises barely keep up with inflation.

Obviously it makes sense to incentivize high performers. They are harder to find/hire.
68   Patrick   ignore (1)   2021 Jun 10, 5:25pm     ↓ dislike (0)   quote   flag      

https://www.theepochtimes.com/mkt_breakingnews/annual-inflation-soars-to-5-percent-in-biggest-jump-since-2008_3852981.html?utm_source=patrick.net&utm_medium=patrick.net&utm_campaign=patrick.net

Annual Inflation Soars to 5 Percent in Biggest Jump Since 2008
BY TOM OZIMEK June 10, 2021

Inflation took a fresh swipe at American consumers in May, with the consumer price index surging by 5 percent over the past year, the biggest annual spike in the measure since 2008.
69   Eric Holder   ignore (0)   2021 Jun 10, 5:45pm     ↓ dislike (0)   quote   flag      

Thanks, Joe!
70   RC2006   ignore (2)   2021 Jun 14, 9:34am     ↓ dislike (0)   quote   flag      

If we get even a small amount of hyper inflation how does that work with fixed payments like pensions and social security? I would think pensions get fucked because they are locked to past income.
71   FuckCCP89   ignore (5)   2021 Jun 14, 9:40am     ↓ dislike (0)   quote   flag      

RC2006 says
If we get even a small amount of hyper inflation how does that work with fixed payments like pensions and social security? I would think pensions get fucked because they are locked to past income.


They are supposed to get COLA.
72   Onvacation   ignore (6)   2021 Jun 14, 10:47am     ↓ dislike (0)   quote   flag      

Patrick says
value-us-dollar-since-1640/

They didn't have to pay for car insurance or for dental checkups back in 1640. What we call the deeply impoverished in the inner cities of America would have a quality of healthcare and nutrition completely unavailable to even kings during the enlightenment.

No doubt we're fucked. We're all gonna die. But in the meantime we live in a land of milk and honey.

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