patrick.net

The_Deplorable says

Yep, even the EU autocrats did a better fiscal job than xiden/cumalla

M2 should be $19 trillion based on this trend line. It is $21 trillion now.
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Minimum wage in 1972 was $1.60 an hour. See below ad for same year, which is 2.5 times minimum wage for 1972.



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Today "minimum wage" for service workers in Florida panhandle is around $15 an hour, and a 12-piece meal for 4 people costs around $36.

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https://www.nbcnews.com/business/rcna180874

85 cents a pound for a 12 pound turkey by JenniO at Walmart on Front Beach Drive in Panama City Beach

$2 for a 5 pound bag of Russert potatoes ...we bought 2 bags ...

$1.25 for can of green beans

and $5 each for a Marie Calendar dutch apple and pumpkin pies

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The only thing which can slow/stop inflation is the government not 1. hiring goldbricks in all areas of government 2. giving away money to welfare queens and assorted undeserving losers 3. giving COLA increases to people receiving social security 4. giving away money for absurd PPP and similar schemes.

A typical inflation cause would be TSA; the shitty experience you have in the airport today costs you $40 each time you pass through it.

Artificial intelligence could identify "potential problem passengers" and screen them out before we even get into the airport.
Google does a decent job of it with my email for example.

Every guy I know who worked for any type of government job has a millionaire pension; I know a retired fireman who gets $200K per year, a retired worker for San Diego gets a ton of cash, a retired guy who was in the DEA in Florida and then a cop in NY state gets a gigantic pension. My brother worked at a "NYC Health Hospital"=owned by the NYC, and he gets a giant pension.

clambo says

The only thing which can slow/stop inflation is the government not 1. hiring goldbricks in all areas of government 2. giving away money to welfare queens and assorted undeserving losers 3. giving COLA increases to people receiving social security 4. giving away money for absurd PPP and similar schemes.

Need more production and supply per person. Need more productivity gains.

I agree as all that money goes to unproductive causes like paying three guvmint workers to do the work of one guvmint worker, as well as rewarding lazy behavior with various welfare give-aways.

I think Trump's energy policy will help to at least reduce the inflation rate (i.e., disinflation).

As far as social security's COLA, it should be available as a lot of senior citizens barely get by and the only income they have is social security.

One idea is to have a slight means test for social security, as pay a reduced amount to top income households that earn social security.

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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.

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.



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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 :-(

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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.
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AD says

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

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.

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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?!

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.

They might actually be doing good here:

preed says

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

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?

... the price of butter up 30%. Dairy, oil and vegetables are up 74% since December ...

https://x.com/joebrusuelas/status/1861902819571433631

So...according to the governor of New York, the cure to inflation is sending out more "Free Money"

This time it will work for sure

https://www.msn.com/en-us/money/markets/new-york-governor-proposes-500-inflation-refund-checks-for-residents/ar-AA1vxSif

Less packets now:

Same price, but half the dose: