Inflation Beyond the Stars Thread for April 12

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Inflation Beyond the Stars Thread for April 12

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2022 Apr 12, 12:49am 146,376 views 1,539 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

« First « Previous Comments 1,513 - 1,539 of 1,539 Search these comments

1513 clambo 2024 Nov 26, 10:40am

If a guy lives on social security alone, he deserves poverty; any guy can save $250/month during his working lifetime if he is at all responsible.

I don't know anyone who lives on social security alone, and I'm in that age group.

1514

AD 2024 Nov 26, 11:02am

clambo says

If a guy lives on social security alone, he deserves poverty; any guy can save $250/month during his working lifetime if he is at all responsible.

I don't know anyone who lives on social security alone, and I'm in that age group.

There are life-long service workers in the tourism and hospitality industry who make $15 an hour and barely get by in the Florida panhandle.

But I agree as far as making that extra effort such as work Uber Driver, Uber Eats, Door Dash, Amazon MTurk, Rover, etc. as far as an extra 20 hours per month to save ~$250 a month in a Roth IRA or Traditional IRA.

Assuming a 6% real growth rate and saving for 30 years such as starting at age 35 and retiring at 65.

I figure from age 20 to 35 that they'll piss away or mismanage their money so by age 35 they are mature enough to save $250 per month at a real (or "inflation adjusted") growth rate of 6% in a Total Stock Market Index Fund within their IRA.

1515

AD 2024 Nov 26, 2:25pm

clambo says

If a guy lives on social security alone, he deserves poverty; any guy can save $250/month during his working lifetime if he is at all responsible.

I don't know anyone who lives on social security alone, and I'm in that age group.

there are a lot of working class people in the Florida panhandle that do not have any financial security other than social security and maybe food stamps and some housing voucher like Section 8

they don't have a guvmint pension such as thru federal civil service or military or veterans affairs disability and they didn't save money in a 401K and/or Individual Retirement Account :-(

some of you all may be surprised by the percentage of people that fit or meet this category :-(

,

1516

AD 2024 Nov 27, 9:32am

.

https://apnews.com/article/inflation-federal-reserve-economy-3f7af74b5e5f814593999f3786dae949

https://www.bea.gov/data/personal-consumption-expenditures-price-index

The Federal Reserve's preferred inflation indicator (Personal Consumption Expenditure (PCE)) was 2.3% for last 12 months as reported today, and it is up from 2.1%.

From 1992 to 2020, the PCE was primarily between 1 and 3%. Those were the days.
,

1517

RWSGFY 2024 Nov 27, 9:37pm

AD says

.

https://apnews.com/article/inflation-federal-reserve-economy-3f7af74b5e5f814593999f3786dae949

https://www.bea.gov/data/personal-consumption-expenditures-price-index

The Federal Reserve's preferred inflation indicator (Personal Consumption Expenditure (PCE)) was 2.3% for last 12 months as reported today, and it is up from 2.1%.

From 1992 to 2020, the PCE was primarily between 1 and 3%. Those were the days.
,

,

Buy your own quote says it's still below 3%, so it's still "the days".

1518

AD 2024 Nov 28, 9:55am

RWSGFY says

Buy your own quote says it's still below 3%, so it's still "the days".

I am hoping we return to "those days" with Trump in the White House. At least he can slow down the government's rate of growth to just below the annual inflation rate.

.

1519 preed 2024 Nov 29, 6:14am

AD says

One idea is to have a slight means test for social security

No. I paid in and I want what I paid. I worked three jobs while going to college at night, then busted my butt to save money. Why should those who spent down everything get more?!

1520

zzyzzx 2024 Nov 29, 7:55am

1521 clambo 2024 Nov 29, 8:14am

Re: Saving for retirement, to AD's post above.
Any "broke boomer on social security alone" who had invested ANY amount per month in the stock market would have made a bundle in the last 30 years.
Since 1992, the S&P 500 index return average until 2024 is an amazing 10.39%.
This return will double your principal every 7 years ("rule of 72").
There should never be a Cost of Living Increase to Social Security; it's impossible in any true pension.

1522

zzyzzx 2024 Nov 29, 8:44am

They might actually be doing good here:

1523

Maga_Chaos_Monkey 2024 Nov 29, 12:50pm

preed says

No. I paid in and I want what I paid.

1524

DOGEWontAmountToShit 2024 Nov 30, 8:22pm

1525

RWSGFY 2024 Nov 30, 11:46pm

DOGEWontAmountToShit says

Yeah, it's the acceleration vs speed thing. Does he really not know the difference or just trying to yank bread and butter out of Cucker Tarlson's muzzle?

1526