patrick.net

The Putin stuff is pathetic desperation. What happens when political sociopaths run out of lies and imagination? They try to put tread on the old worn out lies.

They're ripping off my Putin assassinates thread!

The government caused inflation by giving money away.
The “earned income credit” is free money for having a kid in your household.
I believe it’s been increased from $3500 per kid.
You also get the credit if you earn less than $21,000 ($1500)
57% of people pay no income tax so they are going to spend the money on something.
I’m sick to my stomach every April; the government is giving away trillions of dollars and it sells IOUs (borrows money) to do it.
I’m more concerned about taxes on our life savings than inflation.

clambo says

The government caused inflation by giving money away.

Bingo.

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

Damn we're fucked.

How is everyone hedging? Seriously I'm open to ideas.

YAMS!!! Seriously, Potatoes and Tomatoes and Bunching Onions. 60lb of Rice. Two cans of meat per week for 4 weeks so far. 5lb of Coffee and Sugar. Six cans of Evap Milk, one box of dry milk. Looking for reasonable powdered butter, but the prices are insane. My .45LC derringer from Bond Arms with one round of Snake and one round of .410 defense load at all times. Snake shot is also bird shot if needs be, pigeon pie or just load with .410 birdshot. Don't know how to fish but I can build a weir because I went hunting for tropical fish in Paraguay a few times rather than buy at the pet shop because I'm a cheap asshole and it was fun.

I drive during the day and clean other delivery trucks to Midnight. Slogging 50 hours a week.

Next up: .22 Rifle, sold my old one a decade ago when I moved overseas. Eventually a 9mm carbine and lots of 9mm, or, the enemy will be the quartermaster.

Goran_K says

How is everyone hedging? Seriously I'm open to ideas.

Ammo and yams!

We’re back to the 70’s.

Jimmy Carter=kook
Biden=senile

Brezhnev=invades Afghanistan
Putin=invades Ukraine

1970’s high gasoline prices, high inflation
2021 high gasoline prices, high inflation

1970s fear of global cooling causing S Hemisphere crop failures
2021 fear of global warming doing something?

1970s snow storms on the east coast
2021 snow storms on the east coast

1970 geezers escaping to Florida
2021 geezers escaping to Florida

1980 voter reaction=threw some bums out
2022 voter reaction=fraud by mail? Throw the bums out? Fingers crossed.

Goran_K says

Damn we're fucked.

How is everyone hedging? Seriously I'm open to ideas.

@Goran_K some ideas:

gold
TIPS (treasury inflation protected securities) - doesn't really cover inflation, but better than most bonds
certain stocks that take a percentage of transactions, like Visa (V)
non-perishable commodities like alcohol
ammo

I've been collecting a few bicycles, because they hold value in good times, and rise when in value when supply chains break. Not that that is any significant store of money.

Used cars would probably work too. Their value has surged lately.

Getting your money back out of things like alcohol and ammo can be hard if you end up with way more than you need.

Series I Savings Bonds currently pay about 7.1%

I heard someone say they think it will go over 9.6% when the new price comes out for May issuances.

A guaranteed 9.6% is not shabby. Too bad there's a 10k per year purchase limit.

Patrick says

Goran_K says

Damn we're fucked.

How is everyone hedging? Seriously I'm open to ideas.

@Goran_K some ideas:

gold
TIPS (treasury inflation protected securities) - doesn't really cover inflation, but better than most bonds
certain stocks that take a percentage of transactions, like Visa (V)
non-perishable commodities like alcohol
ammo

I've been collecting a few bicycles, because they hold value in good times, and rise when in value when supply chains break. Not that that is any significant store of money.

Used cars would probably work too. Their value has surged lately.

Getting your money back out of things like alcohol and ammo can be hard if you end up with way more than you need.

I'll take a look at TIPS.

I literally have over 200,000 rounds of ammo (various calibers). I am also thinking of buying more precious metals.

Hircus says

Series I Savings Bonds currently pay about 7.1%

I heard someone say they think it will go over 9.6% when the new price comes out for May issuances.

A guaranteed 9.6% is not shabby. Too bad there's a 10k per year purchase limit.

That's pretty crazy. You can buy them online too!

Goran_K says

Damn we're fucked.

How is everyone hedging? Seriously I'm open to ideas.

If a billionaire came to you and said “invest in my company, and I’ll pay you 15% yield annually.” What would you say?

Carl Icahn owns more than 90% of IEP. The stock is around $53, and it pays $8/year in dividend.

Nothing in life is guaranteed, but rather than dropping $100k to pay for the Model X, I used the money to buy the stock. Use the dividends to make car payments. Once the car is paid off, “hopefully” the stock still holds its value.

Not financial advice of course. 🤑

Eman says

Goran_K says

Damn we're fucked.

How is everyone hedging? Seriously I'm open to ideas.

If a billionaire came to you and said “invest in my company, and I’ll pay you 15% yield annually.” What would you say?

Carl Icahn owns more than 90% of IEP. The stock is around $53, and it pays $8/year in dividend.

Nothing in life is guaranteed, but rather than dropping $100k to pay for the Model X, I used the money to buy the stock. Use the dividends to make car payments. Once the car is paid off, “hopefully” the stock still holds its value.

Not financial advice of course. 🤑

Sound logic. Can’t argue against it.