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Old 05-08-2020, 03:11 AM
 
Location: Oregon, formerly Texas
6,385 posts, read 4,330,840 times
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My spending has dropped around 35% and that was with a couple pandemic panic runs to the grocery stores, buying a flurry of supplies online and computer equipment for our home offices.

It would be more if I weren't making a concerted effort to support the local businesses I care about. We're getting takeout and/or picking up coffee etc.. at least 2x a week.

Staying home doesn't cost much. I haven't filled my gas tank since March.
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Old 05-08-2020, 03:49 AM
 
Location: Las Vegas & San Diego
1,599 posts, read 347,399 times
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I am actually surprised that prices haven't gone up much for staples like food. For us, our income hasn't really changed much (retired) but our costs have gone down.
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Old 05-08-2020, 03:54 AM
 
80,217 posts, read 78,558,296 times
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Quote:
Originally Posted by ddeemo View Post
I am actually surprised that prices haven't gone up much for staples like food. For us, our income hasn't really changed much (retired) but our costs have gone down.
most supermarkets our way have no sales , promo's or specials on many items so in effect they have gone up
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Old 05-08-2020, 04:18 AM
 
1,173 posts, read 2,598,248 times
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Quote:
Originally Posted by Electrician4you View Post
Why would the prices drop? The demand is there there is no reason for the price to drop. In fact the price as you noticed can go higher because it’s pushed up by demand. Things may become unaffordable to some people but not all people

Now...........go book a cruise on a cruise ship. I bet you can get a week cruise for pocket change.


People seem to think because a lot of people are out of work then that equals EVERYONE is out of work which means prices will drop. Which is not true. There will still be a demand for basic living stuff at a minimum. Someone still has to make them. You still need food water lights clothes. Repairs to various things in a house car etc.

What I’m really waiting for is all the loud mouths who were waiting for a market crash to go ape on the stock market and housing. I’m betting they're biting their nails hoping they keep their job or wore out their fingers dialing the unemployment office trying to get through. Buying a house or making a killing in the market....is the last thing on their mind. And if I’m wrong....then I’m wrong and more power to them.



I've read estimates of unemployment rate anywhere between 15% to 30%, which is significant. Combine that with people who are employed or retired, but whose stock market portfolios or primary home's value has declined precipitously, and then you have a sizable amount of people who have less disposable income to spend on discretionary goods and services.
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Old 05-08-2020, 04:20 AM
 
1,173 posts, read 2,598,248 times
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Quote:
Originally Posted by PamelaIamela View Post
Prices of goods cannot go below the cost per unit to produce.. unless it's a 'loss leader' or a going out of business sale.
If wages and raw materials plunge we could see deflation, but the Central Banks are working overtime so I'm not holding my breath.


Mark-ups and profit margins can be a lot less, but perhaps businesses would rather declare bankruptcy than to operate on slim margins.
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Old 05-08-2020, 06:10 AM
 
Location: Middle of the valley
36,684 posts, read 22,998,643 times
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Quote:
Originally Posted by Happs View Post
I've read estimates of unemployment rate anywhere between 15% to 30%, which is significant. Combine that with people who are employed or retired, but whose stock market portfolios or primary home's value has declined precipitously, and then you have a sizable amount of people who have less disposable income to spend on discretionary goods and services.
But most get unemployment plus $600 a week, so no a huge drop in pay.
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Old 05-08-2020, 08:11 AM
 
9,612 posts, read 10,238,909 times
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Prices in the aggregate are dropping.

PCE Inflation for March per The Dallas Federal Reserve:

PCE - negative 3.2%
PCE ex-food and energy - negative 1%

*PCE = personal consumption expenditures
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Old 05-08-2020, 08:14 AM
 
3,567 posts, read 2,257,353 times
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They will once competition heats up and the economy opens. I expect insane deals to come for restaurants, entertainment, and travel.

I basically don’t spend anything right now that’s not bills. It’s ridiculous. I also kicked up my 401k contribution with a 14% increase right when this started hitting the markets.
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Old 05-08-2020, 08:21 AM
 
10,548 posts, read 4,585,562 times
Reputation: 2158
Quote:
Originally Posted by redguard57 View Post
My spending has dropped around 35% and that was with a couple pandemic panic runs to the grocery stores, buying a flurry of supplies online and computer equipment for our home offices.

It would be more if I weren't making a concerted effort to support the local businesses I care about. We're getting takeout and/or picking up coffee etc.. at least 2x a week.

Staying home doesn't cost much. I haven't filled my gas tank since March.
Run your vehicle though. My Highlander's battery was dead the other day. Last time I drove it maybe mid March, and the battery is new this year.
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Old 05-08-2020, 09:27 AM
 
Location: Buckeye, AZ
31,293 posts, read 17,653,904 times
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Quote:
Originally Posted by Mikala43 View Post
But most get unemployment plus $600 a week, so no a huge drop in pay.
True but they still have rent or mortgages to pay. That said if you are a retail manager and for fourloghed, you might just have a paycut due to unemployment. Art Arizona minimum wage you make $250, add in the $600; and you make $850 a week. $850 a week is about $3,400 month. At 50k a year, a manager takes home $4,100 a month.

And that is if they are able to get through to unemployment. Many still haven't even gotten their first week claim in due to call volumes and processing.
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