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You can buy a car but now they are selling for MSRP or above (I believe $45k+ is average now).
People are seeing inflated prices for groceries and a slew of other things.
Fuel prices are creeping up to 2009ish levels where people were buying up all kinds of econo car. Now people are paying insane amounts of money for full size trucks/SUVs that get 17 mpg.
Collectibles of all kinds are going for insane amounts of money. As an example, I remember a few years ago when Michael Jordan rookie cards were like $5-10k — now they are $50k-$500k.
Will there come a point soon where those (cash rich?) not taking on all this debt will breathe a sigh of relief and clean up with lower prices?
I remember 2009/10 as not that bad — my parents were people that always lived below their means so despite their 401ks taking a hit, life was good when everything seemed very cheap back then. I remember dealerships almost giving away cars. I remember handymen/construction people on Facebook marketplace begging for work and you could get something fixed quick and cheap.
What do you mean by "money trees" in the above post, OP?
I just spent $140 for dinner for 1 person in St Pete. A dozen oysters, 2, drinks, and grilled grouper.
My local counter service fish shack still have a grilled grouper sandwich combo for about $15 when grouper is in season.
Quote:
Originally Posted by RationalExpectations
And then I read assertions that "you should tip your US Postal Delivery Employee $100 at Christmas time," invariably written by - you guessed it - a US Postal Delivery Employee.
First, IIRC, it's illegal to do cash tips for government employees and even if it was allowed, not until they stop disappearing my mail for weeks on end.
We tipped the two guys who installed our kitchen counters $100 for a day's work because they actually did a really good job and were working as subcontractors for subcontractors so their base pay from our job probably wasn't much.
You sure as heck didn't do that with index funds or rental property.
Stocks and property value.
My area went insane, property value went up about 90%.
Stocks even more. E.g. I had a large position in Blackstone which tripled. Also large position in Starbucks which about doubled. Decent position in Disney, went up 50%. Nike, similar. Had those stocks since 2018. Put more money in them circa May-June 2020 thinking.. hey they're going to go up 20%. Little did I know it'd be more.
Honestly bought those stocks on a whim... did some rudimentary research & analysis on them. SBUX I bought because I believe in the company. Hat tip to "Intelligent Investor" by Benjamin Graham.
Other big positions were indeed indexes, e.g. Schwab Large Cap Growth etf. Up about 65%.
On top of that, spent a lot less on various things by staying home all the time. Car expenses plummeted; went from putting 20k miles a year on my cars, to 7k.
Although in absolute terms, it was the property value that was the biggest thing.
That's(the bolded) not really true. The refiners would refine more if they could get more oil, but US producers are not producing as much as they try to listen to shareholder desires to increase returns, and OPEC/Russia have constrained supply.
It has more to do with the economics of shutting down wells during the pandemic (a lengthy process) coupled with the economics of reopening wells in response to increased demand (also a very lengthy process).
Add to that the stated objective of our Federal Government to restrict the supply of petroleum and coal in the US.
It has more to do with the economics of shutting down wells during the pandemic (a lengthy process) coupled with the economics of reopening wells in response to increased demand (also a very lengthy process).
Add to that the stated objective of our Federal Government to restrict the supply of petroleum and coal in the US.
No, shutting down wells is simple - turn a valve and the flow stops, or turn off the pumpjack and flow stops. Restarting is the reverse. Many of the wells contributing to the pre-pandemic production levels have steep decline curves, and would now be producing 5% of their initial flow, so turning them back on wouldn't have much effect. The production levels were being maintained by continual drilling of new wells, which was unsustainable even before the pandemic.
Hi guys just found this thread, I got confused by some GOP neighbors etc. But current inflation situation is mostly caused by huge demand and not enough supply right? (caused by covid, everyone is trying to get back out there and working and buying stuff, too much demand not enough supply) And every country is going through the same thing right? similar inflation/problem etc.
what are some other major factors that's causing the current inflation?
Current prices for cars, bacon, gas, houses etc. When current inflation situation gets better do they go back down? Or some will stay the same and some will go down?
Last edited by LVguy; 11-14-2021 at 09:46 AM..
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