Things are starting to feel like the 70's again.

https://boston.cbslocal.com/2021/10/14/consumer-prices-rising-covid-pandemic/

“The meat is above and beyond all right?” Fadia Chamoun of Lexington lamented as she packed her trunk full of groceries. “It has gone sky high. Everything has gone sky high and it’s extremely sad.”

If it feels like lately everything is more expensive, that’s because it is.

“The government [just] released that prices over the past 12 months have increased 5.4% and that marks the fifth month in a row of over 5% price increases,” Boston University Questrom School of Business professor Jay Zagorsky explained. “That means that roughly every 14 or 15 years, all prices double. Everything is twice as expensive if this keeps up.”

The price increases have hit certain industries particularly hard over the last year. Used car prices are up about 24 percent. The cost of meat has gone up 12 percent in 12 months. Home heating oil is up an estimated 43 percent. Another area on the top of many commuters’ minds: gas prices, which have risen by more than $1 a gallon.

Prices are high and supply is low or none existent.

 

So the day before yesterday I figured I wanted to attempt at baking cupcakes. So I went to the local drug store for milk. No milk. Two supermarkets later I not only found fresh milk but I figured since it was there half and half might be a nice touch. Today was worse. Son, daughter in law and grandkids are coming up for weekend. I like hard cider but know my son enjoys craft beers. I was lucky to settle for the last 12 pack of Stella and forget any local good craft beer. The beer shelves were pretty sparse. Inflation is out of control and you are lucky to even find some things at higher prices. Yup, high prices and low to non existent supply. On the bright side we can of course blame COVID.

Ron

 

https://www.cnbc.com/2021/11/10/inf...the-wage-gains-for-workers-and-then-some.html

Inflation has taken away all the wage gains for workers and then some

https://finance.yahoo.com/news/u-electricity-costs-surge-most-151622541.html

U.S. Households Face Biggest Surge in Electricity Costs Since 2009

 

https://www.cnbc.com/2021/11/10/inf...the-wage-gains-for-workers-and-then-some.html

Inflation has taken away all the wage gains for workers and then some

https://finance.yahoo.com/news/u-electricity-costs-surge-most-151622541.html

U.S. Households Face Biggest Surge in Electricity Costs Since 2009

Surprise, surprise, whoever would have thought when you shut down an economy for a year inflation would happen? That a new dependence on oil imports fuel cost would go up, gee I never would have thought. I feel for those in colder climates who rely on electric heat.

Ron

 

I think it was unavoidable ... this is a worldwide phenomenon, not just in the american continent ...

 

Surprise, surprise, whoever would have thought when you shut down an economy for a year inflation would happen? That a new dependence on oil imports fuel cost would go up, gee I never would have thought. I feel for those in colder climates who rely on electric heat.

Ron

Kids, welcome to the 70's.

https://www.npr.org/2021/05/29/1001...is-bad-now-lets-take-a-step-back-to-the-1970s

https://www.investopedia.com/ask/answers/111414/does-inflation-favor-lenders-or-borrowers.asp

 

Kids, welcome to the 70's.

https://www.npr.org/2021/05/29/1001...is-bad-now-lets-take-a-step-back-to-the-1970s

https://www.investopedia.com/ask/answers/111414/does-inflation-favor-lenders-or-borrowers.asp

You should've seen Mexico back in the 80's ...

 

I think it was unavoidable ... this is a worldwide phenomenon, not just in the american continent ...

Let's hope it's short term. The base economics are still strong but the labor and supply systems is totally upside down.. Supply and depend for quality parts and labor is insane.

 

You should've seen Mexico back in the 80's ...

I lived in San Diego then. Most of those brain cells storing stuff from that era are dead from the trips south of the border to TJ clubs. It was the best and worst of times.

 

(Quoted content deleted -moderator)

Don't even try to make this modern political. Stop Now....

 

Why, oh why, does posting the truth on this forum always get called "political"?? It is something that actually happened or is still happening, so that makes it political?

Take your intentional posting of political 'truth' to another forum or posting. It's not wanted in this one.

 

The bottom line is right now, all of us, are facing high inflation. They have always said "America's needs move buy truck" and trucks move on fuel which is costing more and more each day. Not there is a hedge to inflation but my wife and I have been really stocking up on long shelf life commodities. We have also packed the freezer with meat. Heck, the ground beef which was $4.00 a pound is now $5.00 a pound a week later. Ohio is still for the most part powered by fossil fuel so we can expect large increases in electric cost. Yes, there will be more inflation and I am glad I am no longer driving 250 miles a week to and from work.

On the bright side returns on investments have actually been pretty good. That considering at our age we only focus on low risk because at our age there is no putting back loss. Meanwhile the economy is what it is.

Ron

 

Don't even try to make this modern political. Stop Now....

Why, oh why, does posting the truth on this forum always get called "political"?? It is something that actually happened or is still happening, so that makes it political?

Take your intentional posting of political 'truth' to another forum or posting. It's not wanted in this one.

I do not generally make comments in threads like this (like the "Coronavirus" thread, too), but I feel I must this once.

Current events, economics, law and ethics, etc., and views and commentaries on them are all inextricably connected to politics in some way or another, either being informed by or forming your stance in and thus informing your politics. Because this forum is not intrinsically political (or it shouldn't be, anyway), I generally keep my opinions - except, perhaps, the most surface-level of them - to myself in these kinds matters and let others form their opinions of me based solely on my expertise (or lack thereof), the manner in which I can instruct/help/guide, and my reception to instruction, rather than any opinions formed by agreement or disagreement by a solely political basis. It's not instructive, nor is it helpful.

So, forgive me if I am being blunt, or harsh, or overly forward or rude, but, the intent or expectations of threads like this or others on current event/economics just strikes me as either intentionally baited to draw out a political response from some members (which I assume not the intention, as we try to stay civil, based on experience here), or naive to expect that political commentary will not come up.

I'm young and foolish, and very much a cynic, so I very well and likely could be off-base, speaking beyond my knowledge or expertise, but those are my two cents regarding posts and threads like this. Take from it what you will. It's not my intent to be rude or abrasive; I just figured something to this effect should be said, respectfully.



Regarding the actual subject matter at hand, I will make this comment: I'm paying almost twice now what I paid last year for a full tank of gas ($3.50ish/gallon around me, and driving 330 miles a week for work is getting expensive). And prices are still rising.... Meat prices are insane, too. I think I paid about $17 for bacon? I could be remembering wrong.

 

The bottom line is right now, all of us, are facing high inflation. They have always said "America's needs move buy truck" and trucks move on fuel which is costing more and more each day. Not there is a hedge to inflation but my wife and I have been really stocking up on long shelf life commodities. We have also packed the freezer with meat. Heck, the ground beef which was $4.00 a pound is now $5.00 a pound a week later. Ohio is still for the most part powered by fossil fuel so we can expect large increases in electric cost. Yes, there will be more inflation and I am glad I am no longer driving 250 miles a week to and from work.

On the bright side returns on investments have actually been pretty good. That considering at our age we only focus on low risk because at our age there is no putting back loss. Meanwhile the economy is what it is.

Ron

For younger generations with debt (house, school, etc..) and a job that keeps up with inflation this could be a short term good thing to re-balance the debt ratio.

 

I do not generally make comments in threads like this (like the "Coronavirus" thread, too), but I feel I must this once.

The person that blast was directed at has a long history of intentionally breaking the rules IMO. It's pretty easy to talk around modern politics by simply not saying names. I'm far from perfect on the matter but I do try to stay within bounds.

 

A new recruitment tool for employers — paying workers every day​

Interesting article relevant to the discussion in this thread:

Struggling to attract workers as the coronavirus pandemic drags on, major companies are dangling an uncommon benefit to lure job candidates: a chance to get paid every day.

 

A new recruitment tool for employers — paying workers every day​

Interesting article relevant to the discussion in this thread:

For unskilled day labor that's an old tradition. As a kids we would do daily farm labor for a buck or two.

There is a downside to using the apps. Employees are charged $2.99 to access their wages on the same day they receive them. DailyPay charges $1.99 if a user wants to transfer wages a day after the money is earned, while Branch charges up to $4.99 depending how much money an employee transfers.

Being charged a percentage for your own daily wages is an old tradition too.

 

A new recruitment tool for employers — paying workers every day​

Interesting article relevant to the discussion in this thread:

Yes, I have witnessed that first hand. While a little off topic a very large amusement park up here in North Ohio is Cedar Point on the shores of Lake Erie. Like anything amusement outdoors up here, the park is seasonal. Every year the park brings in thousands of summer jobs for kids. Finally reopening this year after COVID had it shut down last year they actually were paying summer part time help $20.00 USD an hour. They also arrange for boarding of the summer help. Enter the problem. Local small business which is also seasonal could not afford to pay that hourly rate let alone provide lodging. Many could not even open and like so many small businesses simply dropped off the map. Cedar Point simply raised park admission a few bucks to cover the summer help wages. Quite literally hundreds of thousands visit Cedar Point every season and even with reduced attendance about 12.000 guest per day and about a 130 day season. Weekdays about $50 and weekends/holidays $60. That does not include concession sales. Anyway the small businesses in the area suffered. This is just one example. The increased cost of bringing labor onboard is simply passed along to the consumer. Much like the cost of moving consumer good across the country.

Ron

 

Didn't employers change to paying weekly so their employees couldn't get drunk every night? I saw that on one of those cable documentaries.

 

Didn't employers change to paying weekly so their employees couldn't get drunk every night? I saw that on one of those cable documentaries.

Local bars have had bar credit for regulars just about forever.