@Wingsrule said:
As it relates to the thread title, pretty much all indices are higher than they were on Aug 5. Spot gold just set a ATH today over $2500. What does next week hold?
@tincup said:
Well, glad inflation has been tamed, and good times are here for all. One site gave an estimate of what the seniors can expect for the Social Security benefit increase for next year...
"Based on 2023 inflation figures, the COLA for 2024 increased monthly benefits by 3.2 percent. Alicia Munnell, director of the Center for Retirement Research at Boston College, says continued cooling of inflation could produce a 2025 adjustment of 2.6 percent to 2.9 percent."
"A COLA that matches the 2.9 percent July figure would increase the average Social Security retirement benefit — about $1,870 a month in June 2024 — by $54 a month starting in January 2025."
Not sure that will help much with how much higher prices have gone.
Social Security was meant to supplement other income during retirement. If one doesn't have other income then they did something wrong.
It's the same argument as that of minimum wage isn't a living wage.
@tincup said:
Well, glad inflation has been tamed, and good times are here for all. One site gave an estimate of what the seniors can expect for the Social Security benefit increase for next year...
"Based on 2023 inflation figures, the COLA for 2024 increased monthly benefits by 3.2 percent. Alicia Munnell, director of the Center for Retirement Research at Boston College, says continued cooling of inflation could produce a 2025 adjustment of 2.6 percent to 2.9 percent."
"A COLA that matches the 2.9 percent July figure would increase the average Social Security retirement benefit — about $1,870 a month in June 2024 — by $54 a month starting in January 2025."
Not sure that will help much with how much higher prices have gone.
Social Security was meant to supplement other income during retirement. If one doesn't have other income then they did something wrong.
It's the same argument as that of minimum wage isn't a living wage.
?? My comment has nothing to do with any suggestion of Social Security being intended to be a living wage. But if you didn't get the intent of my post.... no problem. I feel no need to try to explain.
@cohodk said:
Some of us don't need others to tell us how and what to think.
.
I have done well in the past by acting in contrarian fashion to what financial advisors and money managers (such as yourself) say to do.
I agree.
Just curious. Are the big Gold Ameros I purchased from you over the years still worth a noticeable premium over the rising gold bullion value? Now that gold bullion is at $2500 an ounce is the rising gold bullion value fighting for supremacy vs the Amero numismatic value? I have noticed that even the PCGS MS-65 Saints numismatic value premium is shrinking vs the gold bullion value. Certainly not complaining.
**And seriously, my grocery bill this year is about the same as last year.
Can you please tell us where you shop?
Around here food is generally up 10-12% across the board.
Anecdotal. Just received a coupon from Smith’s. $30 off next $200 purchase. They used to send $15 off $100 purchase.
Now I suppose those who think everything is great will argue that the discount is the same, but until about 2 1/2 years ago, I would never be able to take advantage of that coupon. Now, not so sure. Depends on if I want to but the half gallon of OJ or the new improved, same price as last year 57 oz Oj.
**And seriously, my grocery bill this year is about the same as last year.
Can you please tell us where you shop?
Around here food is generally up 10-12% across the board.
The grocery store. I buy smart, not on impulse. Today I got hamburger for 5.99/llb....same as last year. I got 2 loafs of bread for 3.29. Dunkin ground coffee was 6.99 for 12oz. These are the same I paid a year ago.
Lots of venison running around the back 40. $20.97 for hunting license same as every year since 2015 I believe, $6.97 for additional doe tags. $27.97 for a fishing license with stocked trout stream less than 1/2 mile from my front door. Farm next door raises cows and pigs, my price for a side of beef/pork hasn't changed since 2019. The girls are still cranking out protein in a shell. 50# bags of non-gmo feed currently $18.80, $20.30 last year and $21.50 the year before that, price has actually decreased 2 years straight. Flats of veggies from the Amish for the garden same price since 2021. Orchard doesn't cost a thing, it's the gift that keeps on giving, apples, peaches, plums, pears, grapes, blueberries, etc. The weekly staples that I do need to buy at the grocery seem to be the same or even a bit less than last year for sure. Me and momma probably average $50-$60 a week at the grocery. Use your heads people. A little common sense can go a long way. RGDS!
@blitzdude said:
Lots of venison running around the back 40. $20.97 for hunting license same as every year since 2015 I believe, $6.97 for additional doe tags.
My price per pound.for venison did go.up last year because I only used 2 of my 3 tags. Still had some in freezer from 2022. Price per pound will drop this year though.
@blitzdude said:
Lots of venison running around the back 40. $20.97 for hunting license same as every year since 2015 I believe, $6.97 for additional doe tags. $27.97 for a fishing license with stocked trout stream less than 1/2 mile from my front door. Farm next door raises cows and pigs, my price for a side of beef/pork hasn't changed since 2019. The girls are still cranking out protein in a shell. 50# bags of non-gmo feed currently $18.80, $20.30 last year and $21.50 the year before that, price has actually decreased 2 years straight. Flats of veggies from the Amish for the garden same price since 2021. Orchard doesn't cost a thing, it's the gift that keeps on giving, apples, peaches, plums, pears, grapes, blueberries, etc. The weekly staples that I do need to buy at the grocery seem to be the same or even a bit less than last year for sure. Me and momma probably average $50-$60 a week at the grocery. Use your heads people. A little common sense can go a long way. RGDS!
Same price as last year is still much higher than before the VID. I do applaud you for being self sufficient, but I'm pretty thrifty, and food costs are still high. Just got back from the Walmart and I was pretty happy with the $157 bill. We used to have a farmers market nearby, but now only one or two growers show up, the produce is not very good and the rest of the booths are overpriced food trucks and "artisan crafts" etc. And the HOA would probably be pretty upset if I started shooting animals in the neighborhood.
And, I know this is discretionary spending, but went to the local AAA ballgame last night with family, $70 including tip for Cheesburger, Chicken Sando, Waffle fries and two drinks. Haha. If there is a next time, I'm sneaking a sandwich in my wife's purse.
@blitzdude said:
Lots of venison running around the back 40. $20.97 for hunting license same as every year since 2015 I believe, $6.97 for additional doe tags.
My price per pound.for venison did go.up last year because I only used 2 of my 3 tags. Still had some in freezer from 2022. Price per pound will drop this year though.
Deer and the hens love the falling apples and grilled corn husks. Don't even need to leave the back porch to put meat in the freezer. #Livin RGDS!
You and Jim are sitting on pounds of gutter worth half its non-inflation-adjusted 1980 value.
Who's Jim?
Unless you bought at the peak in 1980 (which is highly unlikely since that price lasted a few minutes), your statement doesn't mean jack. Most of my silver is more than double what I paid for it and the 1980 peak has no bearing on why anyone would choose to own physical silver.
Not accounting for premiums of any kind, my current ratio is 13.6% silver, 75.9% gold, and10.5% platinum. I've tried to keep it at around 15/70/15, but gold kept going up so I've tried to keep buying more silver and platinum for the inevitable flip to silver and platinum.
I'm extremely happy with how it has turned out. Ask coho about portfolio balancing.
Q: Are You Printing Money? Bernanke: Not Literally
We just harvested 100 pounds of honey, and the gardens are doing well. These 3 fawns are more like our pets, along with a couple coveys of quail, and some squirrels. We don't shoot them, but bunnies and gophers need to avoid this place.
We stopped raising chickens because it seemed hard on them in the winter dealing with the snow. The deer let us work in the garden and just watch us from a short distance now, because we are no longer considered threats.
I have to give a lot of credit to Barron's which I bought every weekend when I was just learning about the market. I started buying stocks in 1999 which was not a good time as the bubble was building and about to crash. With the help of Barron's I made it through that where I could have gotten discouraged and quit. Anyone know if they still do the print magazine?
One of the best buys I had then was biotech Incyte.. They had a small article 1/4 page about the company and that it could be a big winner. In June of 99 I bought shares at $23- 9/16. Remember when they still used fractions? Plus it was $16.95 fee for buying or selling. Then in February 2000 they had another small article where they said INCY had gone up too far and too fast and said it could be time to take some off the table. I sold most of my shares at $260 per share, more than 10x cost in just 8 months!
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
@derryb said:
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
@derryb said:
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
a tax is a tax is a tax is a tax. . .
Natural forces of supply and demand are the best regulators on earth.
@derryb said:
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
@derryb said:
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
a tax is a tax is a tax is a tax. .
So end SS?
why not. Let people plan for their own future. I don't particularly like that they take from me to pay for yours. Sounds almost like . . . drum roll . . . socialism. And is definitely a ponzi.
Here's what SS does for your government: it creates a massive fund of money that the government can, and does, exchange for government debt. The Social Security trust funds are invested entirely in U.S. Treasury securities. By the end of 2021, the trust funds had accumulated $2.9 trillion worth of Treasury securities. And you thought those guys were stupid.
Natural forces of supply and demand are the best regulators on earth.
I'm in favor of taxing all political contributions by 90%. Take away the greed & slush fund motives.
The problem is only corporations have citizenship or individual rights any longer. The rest of us go to jail if we try to rent a congresscritter. We are ignored when we demand our rights unless they are civil rights. Only corporations are represented with their taxes and most pay lower taxes than the middle class or even the working poor.
In the old days taxes went as high as 93% and banks paid 4% interest and loaned it at 5 1/2. They no longer even keep depositor money but use it for their own purposes.
The bankers own the world and we owe our soul to the company store that sells ever shoddier merchandise and poorer quality food. Education has failed and longevity is crashing.
$50 limit to any one candidate and tie the contribution to a taxpayer number (SSN or EIN) so that the cap can be tracked and enforced. People and businesses would be capped. Entities without a tax number would just have to contribute under the table. Outlaw PACs and any form of lobbying of elected officials. This might help reduce the number of politicians who are in it for the money.
Natural forces of supply and demand are the best regulators on earth.
If Zuckerberg wants to contribute $400,000,000 - fine. $40,000,000 goes to the campaign and $360,000,000 goes to paying the national debt. Works for me.
Bonus - the mass media would have to lower their advertising costs significantly. The money just wouldn't be there.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
If Zuckerberg wants to contribute $400,000,000 - fine. $40,000,000 goes to the campaign and $360,000,000 goes to paying the national debt. Works for me.
Bonus - the mass media would have to lower their advertising costs significantly. The money just wouldn't be there.
Sorros and Zuckerberg nor anyone else has a right to rent the US government.
Now days it's not even so much "renting" any longer as even the Supreme Court is bought and paid for. We have two parties and three branches of government doing the bidding of "contributors" and "lobbyists".
@derryb said:
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
a tax is a tax is a tax is a tax. .
So end SS?
why not. Let people plan for their own future. I don't particularly like that they take from me to pay for yours. Sounds almost like . . . drum roll . . . socialism. And is definitely a ponzi.
Would you then complain about the weak folk who didn't plan for their future?
@derryb said:
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
a tax is a tax is a tax is a tax. .
So end SS?
why not. Let people plan for their own future. I don't particularly like that they take from me to pay for yours. Sounds almost like . . . drum roll . . . socialism. And is definitely a ponzi.
Would you then complain about the weak folk who didn't plan for their future?
What would.yiu do with all those folk?
Buy 'em a tent?
Natural forces of supply and demand are the best regulators on earth.
@derryb said:
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
a tax is a tax is a tax is a tax. .
So end SS?
why not. Let people plan for their own future. I don't particularly like that they take from me to pay for yours. Sounds almost like . . . drum roll . . . socialism. And is definitely a ponzi.
Would you then complain about the weak folk who didn't plan for their future?
What would.yiu do with all those folk?
Buy 'em a tent?
They'd probably rather live in your house....and they will.
Guess what happens to a liquidity crisis when global dollars are rejected and find their way home?
Nothing, except what always happens when there is an oversupply - the price of dollars, i.e. of US Govt bonds will go down - which will push interest rates up, which will tank the stock market.
Yeah, nothing.
Q: Are You Printing Money? Bernanke: Not Literally
Comments
I guess so much for "liquidity crisis"?
Knowledge is the enemy of fear
Social Security was meant to supplement other income during retirement. If one doesn't have other income then they did something wrong.
It's the same argument as that of minimum wage isn't a living wage.
Knowledge is the enemy of fear
how old are you?
?? My comment has nothing to do with any suggestion of Social Security being intended to be a living wage. But if you didn't get the intent of my post.... no problem. I feel no need to try to explain.
Asking why? Folk have been paying into SS for 87 years.
Knowledge is the enemy of fear
I agree.
Just curious. Are the big Gold Ameros I purchased from you over the years still worth a noticeable premium over the rising gold bullion value? Now that gold bullion is at $2500 an ounce is the rising gold bullion value fighting for supremacy vs the Amero numismatic value? I have noticed that even the PCGS MS-65 Saints numismatic value premium is shrinking vs the gold bullion value. Certainly not complaining.
Wow. Oreville on the PM board. What’s next??
(Hope you’re doing well, my friend)
I seriously doubt this .
Most do it your selfers are not long term oriented and usually underweight equities
because of their fear of losing money .
I give away money. I collect money.
I don’t love money . I do love the Lord God.
It's a tax dummy
Natural forces of supply and demand are the best regulators on earth.
Yes, of course moron.
Knowledge is the enemy of fear
Can you please tell us where you shop?
Around here food is generally up 10-12% across the board.
Anecdotal. Just received a coupon from Smith’s. $30 off next $200 purchase. They used to send $15 off $100 purchase.
Now I suppose those who think everything is great will argue that the discount is the same, but until about 2 1/2 years ago, I would never be able to take advantage of that coupon. Now, not so sure. Depends on if I want to but the half gallon of OJ or the new improved, same price as last year 57 oz Oj.
My Ebay Store
The grocery store. I buy smart, not on impulse. Today I got hamburger for 5.99/llb....same as last year. I got 2 loafs of bread for 3.29. Dunkin ground coffee was 6.99 for 12oz. These are the same I paid a year ago.
Knowledge is the enemy of fear
Lots of venison running around the back 40. $20.97 for hunting license same as every year since 2015 I believe, $6.97 for additional doe tags. $27.97 for a fishing license with stocked trout stream less than 1/2 mile from my front door. Farm next door raises cows and pigs, my price for a side of beef/pork hasn't changed since 2019. The girls are still cranking out protein in a shell. 50# bags of non-gmo feed currently $18.80, $20.30 last year and $21.50 the year before that, price has actually decreased 2 years straight. Flats of veggies from the Amish for the garden same price since 2021. Orchard doesn't cost a thing, it's the gift that keeps on giving, apples, peaches, plums, pears, grapes, blueberries, etc. The weekly staples that I do need to buy at the grocery seem to be the same or even a bit less than last year for sure. Me and momma probably average $50-$60 a week at the grocery. Use your heads people. A little common sense can go a long way. RGDS!
The whole worlds off its rocker, buy Gold™.
My price per pound.for venison did go.up last year because I only used 2 of my 3 tags. Still had some in freezer from 2022. Price per pound will drop this year though.
Knowledge is the enemy of fear
Same price as last year is still much higher than before the VID. I do applaud you for being self sufficient, but I'm pretty thrifty, and food costs are still high. Just got back from the Walmart and I was pretty happy with the $157 bill. We used to have a farmers market nearby, but now only one or two growers show up, the produce is not very good and the rest of the booths are overpriced food trucks and "artisan crafts" etc. And the HOA would probably be pretty upset if I started shooting animals in the neighborhood.
And, I know this is discretionary spending, but went to the local AAA ballgame last night with family, $70 including tip for Cheesburger, Chicken Sando, Waffle fries and two drinks. Haha. If there is a next time, I'm sneaking a sandwich in my wife's purse.
My Ebay Store
Deer and the hens love the falling apples and grilled corn husks. Don't even need to leave the back porch to put meat in the freezer. #Livin RGDS!
The whole worlds off its rocker, buy Gold™.
You and Jim are sitting on pounds of gutter worth half its non-inflation-adjusted 1980 value.
Who's Jim?
Unless you bought at the peak in 1980 (which is highly unlikely since that price lasted a few minutes), your statement doesn't mean jack. Most of my silver is more than double what I paid for it and the 1980 peak has no bearing on why anyone would choose to own physical silver.
Not accounting for premiums of any kind, my current ratio is 13.6% silver, 75.9% gold, and10.5% platinum. I've tried to keep it at around 15/70/15, but gold kept going up so I've tried to keep buying more silver and platinum for the inevitable flip to silver and platinum.
I'm extremely happy with how it has turned out. Ask coho about portfolio balancing.
I knew it would happen.
We just harvested 100 pounds of honey, and the gardens are doing well. These 3 fawns are more like our pets, along with a couple coveys of quail, and some squirrels. We don't shoot them, but bunnies and gophers need to avoid this place.
We stopped raising chickens because it seemed hard on them in the winter dealing with the snow. The deer let us work in the garden and just watch us from a short distance now, because we are no longer considered threats.
My US Mint Commemorative Medal Set
I have to give a lot of credit to Barron's which I bought every weekend when I was just learning about the market. I started buying stocks in 1999 which was not a good time as the bubble was building and about to crash. With the help of Barron's I made it through that where I could have gotten discouraged and quit. Anyone know if they still do the print magazine?
One of the best buys I had then was biotech Incyte.. They had a small article 1/4 page about the company and that it could be a big winner. In June of 99 I bought shares at $23- 9/16. Remember when they still used fractions? Plus it was $16.95 fee for buying or selling. Then in February 2000 they had another small article where they said INCY had gone up too far and too fast and said it could be time to take some off the table. I sold most of my shares at $260 per share, more than 10x cost in just 8 months!
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
when i was growing up in a rural area, people did live on social security
Current average SS retirement check is $1782. SS Administration considers it "supplemental" income.
Natural forces of supply and demand are the best regulators on earth.
Yup...supplemental. A worker in 2000 would have maxed out his SS tax at $4724...and today they take out over $21,000. More than 4 times their investment.....not too shabby. Or too much? Or not enough?
Knowledge is the enemy of fear
a tax is a tax is a tax is a tax. . .
Natural forces of supply and demand are the best regulators on earth.
So end SS?
Knowledge is the enemy of fear
why not. Let people plan for their own future. I don't particularly like that they take from me to pay for yours. Sounds almost like . . . drum roll . . . socialism. And is definitely a ponzi.
Here's what SS does for your government: it creates a massive fund of money that the government can, and does, exchange for government debt. The Social Security trust funds are invested entirely in U.S. Treasury securities. By the end of 2021, the trust funds had accumulated $2.9 trillion worth of Treasury securities. And you thought those guys were stupid.
Natural forces of supply and demand are the best regulators on earth.
$1 trillion more debt every 100 days. Why tax at all? They print what they want for whatever they want already.
I'm in favor of taxing all political contributions by 90%. Take away the greed & slush fund motives.
I knew it would happen.
what liquidity crisis?
The problem is only corporations have citizenship or individual rights any longer. The rest of us go to jail if we try to rent a congresscritter. We are ignored when we demand our rights unless they are civil rights. Only corporations are represented with their taxes and most pay lower taxes than the middle class or even the working poor.
In the old days taxes went as high as 93% and banks paid 4% interest and loaned it at 5 1/2. They no longer even keep depositor money but use it for their own purposes.
The bankers own the world and we owe our soul to the company store that sells ever shoddier merchandise and poorer quality food. Education has failed and longevity is crashing.
Do the math.
Cap political contributions at $50 and at least election years would be more tolerable.
political contributions can be capped at $1 for all entities, but citizens united ensures pacs can take in billions if they want
$50 limit to any one candidate and tie the contribution to a taxpayer number (SSN or EIN) so that the cap can be tracked and enforced. People and businesses would be capped. Entities without a tax number would just have to contribute under the table. Outlaw PACs and any form of lobbying of elected officials. This might help reduce the number of politicians who are in it for the money.
Natural forces of supply and demand are the best regulators on earth.
If Zuckerberg wants to contribute $400,000,000 - fine. $40,000,000 goes to the campaign and $360,000,000 goes to paying the national debt. Works for me.
Bonus - the mass media would have to lower their advertising costs significantly. The money just wouldn't be there.
I knew it would happen.
Sorros and Zuckerberg nor anyone else has a right to rent the US government.
Now days it's not even so much "renting" any longer as even the Supreme Court is bought and paid for. We have two parties and three branches of government doing the bidding of "contributors" and "lobbyists".
i was being somewhat facetious.
I knew it would happen.
Would you then complain about the weak folk who didn't plan for their future?
What would.yiu do with all those folk?
Knowledge is the enemy of fear
Buy 'em a tent?
Natural forces of supply and demand are the best regulators on earth.
They'd probably rather live in your house....and they will.
Knowledge is the enemy of fear
BRICS 2024: 126 Nations Eyeing US Dollar Exit
Guess what happens to a liquidity crisis when global dollars are rejected and find their way home?
Natural forces of supply and demand are the best regulators on earth.
Nothing.
Knowledge is the enemy of fear
Guess what happens to a liquidity crisis when global dollars are rejected and find their way home?
Nothing, except what always happens when there is an oversupply - the price of dollars, i.e. of US Govt bonds will go down - which will push interest rates up, which will tank the stock market.
Yeah, nothing.
I knew it would happen.
contemplate the term "awash."
Natural forces of supply and demand are the best regulators on earth.