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Location: Prescott Valley,az summer/east valley Az winter
2,061 posts, read 4,134,946 times
Reputation: 8190
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Quote:
Originally Posted by Des-Lab
Argue semantics and technicals all you want. I don't think many of your average voters really give a shidt over what "is or isn't inflation".
If the same amount of money could buy two loaves of bread last year only buys you one this year, that's good enough. I too get tired of these silver spoon up their behinds prima donnas sitting in their Ivory Towers utterly detached from the real world that most of us live in. They sit there and say "but there's no inflation".
Medicals gone up
My auto insurance has gone up
Damn electric bill has gone up
Property tax has gone up
Cable bill has gone up
Gas has gone up
Shaving cream's gone up
Underwear's gone up
Box of cereal has gone up (by means of a smaller box)
"Oh but we're having a recovery. We are worried about DEflation".
Shut the f**k up ok? Like hell there's "no inflation.
I still want to know what color the sky is in Ben "Dover" Bernankes world. Cuz there's no way in hell he's living on earth.
just went on medicare~ insurance was $1340/month, medicare $110/month~ my medical went down drastically
Auto insurance went up $3 per year
electric bill went done by about 20%
Property taxes 2 years ago $1700, this year $300
my over the air tv still at zero
gas was $4.00+ 2 years ago~ $2.65 yesterday
shaving creme still a buck a can~ been there for years
underwear $4 for 5~ same as 5 years ago
Sorry~ don't eat a lot of cereal
everything is a trade off right now .if we buy one thing and its gone up it merely means the money isnt available for something else..
thats not to say prices dont rise on some things ,they do. even in last years supposed deflation prices on certain things were up but its far from the inflation everyone thinks is coming vey shortly ..
we are running at a quite low rate and until more spending money and jobs are in the cards we arent going to be in a a high inflation scenerio.. we need to all have a lot more money to spend before all prices go out of sight.
Last edited by mathjak107; 10-03-2010 at 04:25 AM..
I saw NOT ONE article last week regarding the run up of oil prices. They are now at $81.50 a barrel and going higher. Expect gas prices to rapidly increase over $3 a gallon again.
The rampant inflation predictions are as regular as the "attack Iran" and rampant gas prices predictions, they just keeping passing by with new claims almost as soon as the previous thread is off the first page. Just search this very forum, hell just from one of our resident doomsdayers jimhcom in 2007, predicting runaway inflation for 2008:
Quote:
I believe this pattern will continue until after the elections, at which time the dollar should be in real trouble and inflation at levels we have not seen since the 70's.
slackjaw you and i understand the real deal....we invest and we ignore the noise.we learned to stop this crazy predicting the future and we devote our time to learning about how to be better investors and to building better porfolios that meet our goals. we concentrate on buying long term investments
the others still have to figure this out for themselves.
There's a temporary production shortage and some inventories are low. The ICSG just put a report out for the 1st half of 2010 about 6 weeks ago. Usage is increasing and I'm sure that's tied to development of the 2nd World (former East Bloc, Russia, Brazil and India) and expanding 3rd World Countries.
Basic infrastructure development puts a greater demand on copper (and other resources) than commercial/consumer development.
Housing is not a perishable item like meat, dairy, vegetables or this year's summer fashions. There's no need to panic and sell now to ensure that I get at least something out of it. I can hold on to the property for almost as long as I need to, maybe 5-15 years and sell it when the market improves.
Labor is a different animal. It isn't like it was 40 years ago. Then, your starting wage with a non-union company depended on your education/experience level, and your raises varied. Now nearly all companies have fixed wage scales for new hires and for raises (mostly to avoid lawsuits for discrimination in hiring and wages).
Wages won't drop for existing employees, but the employer might lower the starting wage for new hires. Still, there's a lag-time. A temporary surplus of labor is not going to affect wages any more than a temporary shortage of labor, but long term surplus labor will eventually depress wages, but not necessarily for the currently employed. The employer could decide to revise the pay scale to eliminate raises or lower the "top-out" wage, but that normally wouldn't occur unless they were forced to cut the prices of their products or services too, and that might happen if the government continues to dump stimulus packages onto the economy.
Unless you have a wage contract, wages can and have dropped for existing employees. Maybe you work less hours, overtime is no longer allowed, or your wage actually is cut.
The rampant inflation predictions are as regular as the "attack Iran" and rampant gas prices predictions, they just keeping passing by with new claims almost as soon as the previous thread is off the first page. Just search this very forum, hell just from one of our resident doomsdayers jimhcom in 2007, predicting runaway inflation for 2008:
Fail. Again.
Nothing like taking a quote out of context.
If I remember right, the discussion was about things you own vs. things you need.
2007 was when it became obvious that $3.00 gasoline was going to be the norm and would affect consumer prices across the board.
We have seen massive inflation in the things we need. While we have seen deflation in real estate, equities (things we own) we have seen inflation in energy, interest rates, food, water, precious metals, used cars, and taxes.
This trend is due to currency debasement and is not over; it appears to be with us for the foreseeable future.
Nothing like taking a quote out of context.
If I remember right, the discussion was about things you own vs. things you need.
2007 was when it became obvious that $3.00 gasoline was going to be the norm and would affect consumer prices across the board.
We have seen massive inflation in the things we need. While we have seen deflation in real estate, equities (things we own) we have seen inflation in energy, interest rates, food, water, precious metals, used cars, and taxes.
This trend is due to currency debasement and is not over; it appears to be with us for the foreseeable future.
You've pretty much hit the nail on the head. What is developing is a scenario that I predicted some time back: inflating commodity prices and inflating costs of basic consumer necessities--in other words, the things the average person must buy to survive, coupled with deflating values of the two major things those same citizens own (or borrowed money to buy)--namely, real estate and vehicles. This scenario is caused by two factors: a) overconsumption, exploding debt in both public and private sectors, and b) rapidly increasing worldwide competition for dwindling natural resources. In this country, the crisis will be aggrevated by rapid expansion of the money supply, and ballooning public debt and deficits--both of which are debasing our currency when we are nearly hopelessly reliant on imports.
People forget that it is absolutely possible to have an inflationary depression. If anything, an inflationary depression is far more dangerous than a deflationary one in that an inflationary depression tend to destroy the savings of the prudent, and--more importantly--an inflationary depression also tends to seriously destabilize governments. The Weimar Republic of Germany was a sterling example--and we got Hitler out of that deal.
What I am thinking we are seeing or going to see is -- some things are whipping upward as a Cost-Push that you are describing, some downward, as Mathjak is seeing -- so what we are actually seeing is a realignment of comparative values of entire sectors -- not so much across the board inflation nor deflation.
With housing deflating and daily consumables increasing, you don't believe it's inflation and deflation at the same time?
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