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We’re in a recession. Last quarter we had negative GDP growth and again we are tracking towards negative. This is insane during a time of record breaking inflation. Now the fed has to raise rates during a recession lol. We gave up long term quality of life with that COVID spending spree, government spending including state and local broke 50% of the entire economy last year. This is the most uncertainty I’ve ever seen from investors. The market is in a lot of trouble. Will be a good buying opportunity in the future though.
We’re in a recession. Last quarter we had negative GDP growth and again we are tracking towards negative. This is insane during a time of record breaking inflation. Now the fed has to raise rates during a recession lol. We gave up long term quality of life with that COVID spending spree, government spending including state and local broke 50% of the entire economy last year. This is the most uncertainty I’ve ever seen from investors. The market is in a lot of trouble. Will be a good buying opportunity in the future though.
They have to raise rates now, so that when we hit rock bottom, they can juice it up with quantitative easing again.
Thomas Jefferson did say something about if private banks were allowed to issue their own currency, the people would be robbed with inflation and deflation. It's pretty much what happens when the economy is pumped up with QE (inflationary) and then it is cut and interest rates are pushed up, we are slowly pushed into an eventual recession (deflationary).
But no, your home, when it was built, was NOT standard working middle class when it was built in the height of the Great Depression. At all. 3 bathrooms in a single family home? Don't think so. This was a VERY elite home, and somehow, you are unaware, for the time.
I posted a graph of food prices from 1890 and how they've gone down every decade, so maybe refer to that? Before the last 6 months, food is cheaper than it ever was, and we are certainly not at 82% inflation, which would make prices comparable to before.
I don't know where you live, BTW, but London Broil isn't a "staple". I specifically said staples. And I don't pay anything like 8 bucks for that butter. More like $5. And I'm not quite sure what kind of coffee you're buying for that price, but it certainly isn't a "staple" price. For coffee here, expect to pay about 2.75 per pound of mainstream (not elite) brands of coffee.
London broil is a middleclass cut...its not a t-bone or porterhouse....in 2002 I was paying 1.99/lb for a london broil....3.99 in 2008, 5.99 back in 2017...today it is 8.99 to 9.99 depending on where you go
Butter was 5/lb.. but today, I went to the grocery store, and Land-o-lakes is 7.99...ended up buying the store brand for 4.99
Coffee, I get Maxwell house or Folgers (really like the Black Silk) ... the former 3lb can, (now 2lbs) was $3 for 3lbs 25 years ago... its BEEN 5.99 for the 2lb (plastic) can for the last few year...today it is 10.99 for a 2lb can
Status:
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Quote:
Originally Posted by Chuckity
$7.99 + $10 shipping.
So no, that's not 2.75 a pound.
Show me your local shop or no shipping cost where that fantasy land price is happening.
Walmart's Great Value Brand is about $3 a pound. And that's a very low grade, not midstream at all, brand.
It's at Walmart, Chuck. It's in my store. No 10 dollar shipping.
Do you want me to pick you up on my way to Walmart?
And yes, Folgers is mainstream coffee.
Our elitism will be our undoing. Anyone who refuses to drink Folgers, when they can't afford anything better, and so buys "up", is a snob. And they're ruining their finances.
It's at Walmart, Chuck. It's in my store. No 10 dollar shipping.
Do you want me to pick you up on my way to Walmart?
And yes, Folgers is mainstream coffee.
Our elitism will be our undoing. Anyone who refuses to drink Folgers, when they can't afford anything better, and so buys "up", is a snob. And they're ruining their finances.
It literally is not at your store. Look at your own link.
"New York
CNN Business
—
The stock market selloff has left the Dow Jones Industrial Average on track for its longest weekly losing streak in nearly a century.
After opening the day higher, the Dow (INDU) turned negative and was down about 270 points, or 0.9%, in recent trading. The Dow (INDU) is off by nearly 4% so far this week.
If the Dow finishes down for the week, which it is solidly on pace to do, it would be its eighth-straight weekly loss. That would be the longest weekly losing streak since 1923, according to FactSet data reviewed by LPL Financial."
Ah, you miss the good old days under Trump back when the stock market was crashing due to covid?
Lol. We haven’t seen anything like we’re seeing under Sleepy Joe in many decades. Hopefully those that voted for him are affected the most.
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