I think you’re pulling my leg. You buy groceries lately? Or pay for services anywhere? Have you dined out?
Did you even bother to open the link and see for yourself that the average national price in summer 2008 was the same today?
I could ask you if you bothered to answer my questions?
Just to keep it polite here
you and I simply disagree on the trajectory of inflation.
Cheers.
No I don't. I simply pointed out that gasoline is the same price as 15 years ago.
To your point, yes, other goods and services have increased. So has real median income and most assets. Social security benefits have icreased. And now, even my idle cash is making money.
Inflation is no longer accelerating.
I agree that it's no longer accelerating. I'm not sure it can't rapidly increase.
I also agree that people complain about
gasoline prices when in actuality the price is very cheap given what it takes
to drill for oil, process it, and deliver gas to the pump for my convenience.
Cheers!
"Poets are the unacknowledged legislators of the world." PBShelley
Fifteen months ago we heard how terrible it was going to be for the Europeans, that millions would be freezing to death because they can't afford gas to heat their homes.
That fear mongering narrative is now silent. What happened?
@cohodk said:
Fifteen months ago we heard how terrible it was going to be for the Europeans, that millions would be freezing to death because they can't afford gas to heat their homes.
That fear mongering narrative is now silent. What happened?
Fifteen months ago we heard how terrible it was going to be for the Europeans, that millions would be freezing to death because they can't afford gas to heat their homes.
Natgas from the US conveniently found another big market. And their factories went on furlough. Now Germany is in recession.
Q: Are You Printing Money? Bernanke: Not Literally
You complained about inflation now let me guess you are going to start complaining about deflation? Which is it man?? Something other than the destruction of 'merica has to float your boat??? Let us know. THKS!
Lower prices are great, especially since wages do not get reduced as well. Wages tend to go only up, but only when a while after the cost of living goes up.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@Goldminers said:
Inflation and debt are a little like blowing up a balloon. Slowly it grows larger and larger. At some point it even looks like it is not getting much larger, even with tiny increases, but the pressure keeps building, until it finally pops.
Not as long as more money is printed to support it. The good news is that what ever was financed becomes worth more over time.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
"In other words, the rate seemed lower than it actually was because the base was higher in May 2022. Things were getting more expensive but more expensive at a slower rate than the previous year. Only in Washington is this good news."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
When we start inflating inflation then we have inflation inflation. And we then tax this new tax for inflation? LOL
"Due to the uncertainty of inflation, I have to leave a 15% tip rather than my usual 20% tip."
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
...but a lot of restaurants pay good money to print formal menus. Should they pay to print new menus every month or so to adapt to their input price increases, or at no cost to them just add the upcharge to your receipt? Anyone who thinks "stable prices" as defined by the fed can mean 2%, 3%, 4%, etc., is delusional. It is also possibly illegal based on their charter, but there are very few politicians that will call this out. Stable prices means as close to no change over time as possible. Reality suggests that even very slight deflation is normal and even desirable due to productivity gains.
Hopefully, people don't reduce the tip they leave because of this surcharge.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@derryb said:
When we start inflating inflation then we have inflation inflation. And we then tax this new tax for inflation? LOL
"Due to the uncertainty of inflation, I have to leave a 15% tip rather than my usual 20% tip."
Just make sure your waiter/waitress knows the reason.
Not that the establishment would care since 1987.
We have a place here that adds 18% gratuity on a table of six or more.
Problem is they don't say so you have to read your bill to find out.
How many people just pay and tip without looking over the bill?
This was on a dinner out with two other couples.
3 couples at the same table, SEPARATE CHECKS still constitutes as a table of 6.
Each couple was billed an extra 18% gratuity.
2 of the 3 didn't catch it on the bill.
@derryb said:
When we start inflating inflation then we have inflation inflation. And we then tax this new tax for inflation? LOL
Looks to me like somebody Voluntarily bought, and presumably paid for, about $7.75 worth of Food and Beverage, and some $50+ worth of Service, (and, hopefully, significant Ambiance 😀)
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It was costly in life and limb to those who fought to obtain it and those who fought to keep it. Today it is expensive in dollar terms only because we have been conditioned by officials to believe the waste of money is necessary.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The interest rate is the price of money. It’s a price.
I know my bank account has certainly gone up. Keep raising them. THKS!
Most here (but not you) understand that inflation has caused the purchasing power of their bank account balance to go down. Unless of course your bank is paying a higher rate than the rate at which your dollars are losing purchasing power. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
My bank is paying a higher interest rate than the current inflation rate. That is a fact.
I know you are hell bent on always trying to make EVERYTHING doom and gloom. I'm starting to suspect it has to be what you are being paid to do. Nobody on this planet can be as negative as what is contained in your 80-100 post a day.....And if that is the way you really are you desperately need to step outside and let them beautiful rays of sun shine down on that depressed grape of yours. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
"There is no way to increase the price of one product without a corresponding fall in the demand for others unless new dollars are added to the economy. It’s the Fed, stupid."
@derryb said:
"There is no way to increase the price of one product without a corresponding fall in the demand for others unless new dollars are added to the economy. It’s the Fed, stupid."
Consumers would pay the higher prices for those products most important to them, then the next important, and so on until they ran out of money. They would forgo those items lower on their value scales they could no longer afford, putting downward pressure on the prices of those products
Decreased demand does not always result in decreased prices. Oftentimes prices will remain stagnant. Unless there is an oversupply and manufacturers wish to "clear incentory", they will hold prices stable. They are more inclined to reduce supply than lower prices. Then when spending returns, it is met with reduced supply, which can lead to increased prices. Inflation can and does occur without increased in money supply.
The Fed would not have to increase money supply if not for incessant need of Congress and Presidents to buy votes. It's their fault, stupid.
"Decreased demand does not always result in decreased prices. Oftentimes prices will remain stagnant. Unless there is an oversupply and manufacturers wish to "clear incentory", they will hold prices stable. They are more inclined to reduce supply than lower prices. Then when spending returns, it is met with reduced supply, which can lead to increased prices. Inflation can and does occur without increased in money supply."
And then we have a potential environment of 'price controls' being implemented in the belief that inflation will be controlled by that ( I know better.... likely will result in scarcity of items that one wants/needs to buy ).
In an environment of 'price controls' on various sectors of the economy.... what happens to gold and silver markets? (I'm assuming there would be no price freezes on the gold and silver market).
@jmski52 said: Gasoline futures prices at same level as in 2018-2019.
Primarily because the Strategic Oil Reserve and now, the gasoline stockpiles have all been drained. Election year, ya' know.
Drained stockpiles imputes to HIGHER prices as those stockpiles must be refilled thus increased buying pressure. As you know, lack of supply usually means higher prices. And since we are discussing futures prices, any near term known stimulus such as changing political policy is already factored into price.
But, to follow your "logic" I suppose we've drained our stockpiles of corn and wheat due to an upcoming election as those prices are also at same level as 5-6 years ago?
@jmski52 said: Gasoline futures prices at same level as in 2018-2019.
Primarily because the Strategic Oil Reserve and now, the gasoline stockpiles have all been drained. Election year, ya' know.
Drained stockpiles imputes to HIGHER prices as those stockpiles must be refilled thus increased buying pressure. As you know, lack of supply usually means higher prices. And since we are discussing futures prices, any near term known stimulus such as changing political policy is already factored into price.
But, to follow your "logic" I suppose we've drained our stockpiles of corn and wheat due to an upcoming election as those prices are also at same level as 5-6 years ago?
draining the reserves - consumer supply goes up
refilling the reserves - consumer supply goes down
Assuming demand is unchanged supply will affect price
Normally reserves get refilled when there is plenty of new supply which in turn decreases available consumer supply and helps prop up price
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@jmski52 said: Gasoline futures prices at same level as in 2018-2019.
Primarily because the Strategic Oil Reserve and now, the gasoline stockpiles have all been drained. Election year, ya' know.
Drained stockpiles imputes to HIGHER prices as those stockpiles must be refilled thus increased buying pressure. As you know, lack of supply usually means higher prices. And since we are discussing futures prices, any near term known stimulus such as changing political policy is already factored into price.
But, to follow your "logic" I suppose we've drained our stockpiles of corn and wheat due to an upcoming election as those prices are also at same level as 5-6 years ago?
draining the reserves - consumer supply goes up
refilling the reserves - consumer supply goes down
Assuming demand is unchanged supply will affect price
Normally reserves get refilled when there is plenty of new supply which in turn decreases available consumer supply and helps prop up price
Yes. And jmski said stockpiles are drained...hence no more supply.
jmski said stockpiles are drained...hence no more supply.
My understanding is that more than half of the Strategic Petroleum Reserve (crude oil) was sold off, some of it to China - specifically to lower gasoline prices (and the CPI) for political reasons during the driving season.
The brilliance of this move is such that now that the Reserve has been depleted, prices have risen back up and gov.com now doesn’t want to replenish the reserve because of the higher costs.
So now, just prior to the election they’ve been draining gasoline reserves to keep gasoline prices from rising and to create the illusion that all is well in paradise.
The first hint of a supply shortage will put us all in a major bind. Mismanagement at its worst. Carry on. Times are BOOMIN’ says blitzie.
Q: Are You Printing Money? Bernanke: Not Literally
Maybe things be BOOMIN'.... at least for some. Meanwhile, how are your Dollar General and Dollar Tree shares doing (but no inflation here!)
" Dollar Tree reported this morning that the macroeconomic environment is pressuring its middle—and higher-income consumers. Traffic increased during the quarter, but the average ticket size decreased. It said second-quarter comparable sales and adjusted earnings per share missed Wall Street's expectations. "
" *DOLLAR GENERAL SINKS 26% IN RECORD DROP ON SALES OUTLOOK CUT "
Comments
I agree that it's no longer accelerating. I'm not sure it can't rapidly increase.
I also agree that people complain about
gasoline prices when in actuality the price is very cheap given what it takes
to drill for oil, process it, and deliver gas to the pump for my convenience.
Cheers!
Fifteen months ago we heard how terrible it was going to be for the Europeans, that millions would be freezing to death because they can't afford gas to heat their homes.
That fear mongering narrative is now silent. What happened?
Knowledge is the enemy of fear
Hmmmm...oil prices back to the "energy independence" days. Where's the outrage!!?? Lol
Knowledge is the enemy of fear
Lucky for them, they had a very mild winter.
Fifteen months ago we heard how terrible it was going to be for the Europeans, that millions would be freezing to death because they can't afford gas to heat their homes.
Natgas from the US conveniently found another big market. And their factories went on furlough. Now Germany is in recession.
I knew it would happen.
Lower prices are great, especially since wages do not get reduced as well. Wages tend to go only up, but only when a while after the cost of living goes up.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
If only it were allowed to roam freely in all matters economic.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Not as long as more money is printed to support it.
The good news is that what ever was financed becomes worth more over time.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Hooray, my dollars are currently loosing only 5% a year.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Central Banks Are Buying Gold at Record Pace, What Does That Mean for Inflation?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The truth about inflation.
"In other words, the rate seemed lower than it actually was because the base was higher in May 2022. Things were getting more expensive but more expensive at a slower rate than the previous year. Only in Washington is this good news."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
When we start inflating inflation then we have inflation inflation. And we then tax this new tax for inflation? LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
"Due to the uncertainty of inflation, I have to leave a 15% tip rather than my usual 20% tip."
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Bad marketing. They should just raise the price of the beer by 75c and the salad by $1 and eliminated the extra verbiage.
But since it's a D.C. restraurant, and DC knows taxes, a tax it shall be.
Knowledge is the enemy of fear
...but a lot of restaurants pay good money to print formal menus. Should they pay to print new menus every month or so to adapt to their input price increases, or at no cost to them just add the upcharge to your receipt? Anyone who thinks "stable prices" as defined by the fed can mean 2%, 3%, 4%, etc., is delusional. It is also possibly illegal based on their charter, but there are very few politicians that will call this out. Stable prices means as close to no change over time as possible. Reality suggests that even very slight deflation is normal and even desirable due to productivity gains.
Inflation Adjusted, Men Are Making Less Money Than in 1979, Women Are Doing Better
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
One restaurant I patronize has this as well but I request they omit the charge and they kindly do so.
At least we were told about it.
You're right, that makes it all better. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Hopefully, people don't reduce the tip they leave because of this surcharge.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
always tip in cash, your server will appreciate it
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Just make sure your waiter/waitress knows the reason.
Not that the establishment would care since 1987.
We have a place here that adds 18% gratuity on a table of six or more.
Problem is they don't say so you have to read your bill to find out.
How many people just pay and tip without looking over the bill?
This was on a dinner out with two other couples.
3 couples at the same table, SEPARATE CHECKS still constitutes as a table of 6.
Each couple was billed an extra 18% gratuity.
2 of the 3 didn't catch it on the bill.
Boomer tips are no longer relevant, tip more your server DEPENDS on it. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
or just give them cash, more money in their pocket. RGDS
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Yes cash but not boomer cash. 8-15% on your $3.99 pancake brunch just doesn't cut it. RGDS!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Looks to me like somebody Voluntarily bought, and presumably paid for, about $7.75 worth of Food and Beverage, and some $50+ worth of Service, (and, hopefully, significant Ambiance 😀)
Liberty: Parent of Science & Industry
Where was this bought with a 10% sales tax?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Washington DC. One reason why I don't go there much, even though I live in Northern Virginia.
Now we know:
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Liberty is expensive.
It was costly in life and limb to those who fought to obtain it and those who fought to keep it. Today it is expensive in dollar terms only because we have been conditioned by officials to believe the waste of money is necessary.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The price of money has gone up.
The interest rate is the price of money. It’s a price.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I know my bank account has certainly gone up. Keep raising them. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Most here (but not you) understand that inflation has caused the purchasing power of their bank account balance to go down. Unless of course your bank is paying a higher rate than the rate at which your dollars are losing purchasing power. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
My bank is paying a higher interest rate than the current inflation rate. That is a fact.
I know you are hell bent on always trying to make EVERYTHING doom and gloom. I'm starting to suspect it has to be what you are being paid to do. Nobody on this planet can be as negative as what is contained in your 80-100 post a day.....And if that is the way you really are you desperately need to step outside and let them beautiful rays of sun shine down on that depressed grape of yours. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
There is hope, but only for those who have prepared themselves.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I sure hope my retirement will be much more constructive (and enjoyable) than yours. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
I'm training you.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
"There is no way to increase the price of one product without a corresponding fall in the demand for others unless new dollars are added to the economy. It’s the Fed, stupid."
https://mises.org/mises-wire/feds-fiat-money-real-cause-price-inflation
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Consumers would pay the higher prices for those products most important to them, then the next important, and so on until they ran out of money. They would forgo those items lower on their value scales they could no longer afford, putting downward pressure on the prices of those products
Decreased demand does not always result in decreased prices. Oftentimes prices will remain stagnant. Unless there is an oversupply and manufacturers wish to "clear incentory", they will hold prices stable. They are more inclined to reduce supply than lower prices. Then when spending returns, it is met with reduced supply, which can lead to increased prices. Inflation can and does occur without increased in money supply.
The Fed would not have to increase money supply if not for incessant need of Congress and Presidents to buy votes. It's their fault, stupid.
Knowledge is the enemy of fear
Ah yes inflation, thanks for the reminder. Time to go check the bank accounts as it's interest deposit Sunday. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
"Decreased demand does not always result in decreased prices. Oftentimes prices will remain stagnant. Unless there is an oversupply and manufacturers wish to "clear incentory", they will hold prices stable. They are more inclined to reduce supply than lower prices. Then when spending returns, it is met with reduced supply, which can lead to increased prices. Inflation can and does occur without increased in money supply."
And then we have a potential environment of 'price controls' being implemented in the belief that inflation will be controlled by that ( I know better.... likely will result in scarcity of items that one wants/needs to buy ).
In an environment of 'price controls' on various sectors of the economy.... what happens to gold and silver markets? (I'm assuming there would be no price freezes on the gold and silver market).
Gasoline futures prices at same level as in 2018-2019.
Knowledge is the enemy of fear
Gasoline futures prices at same level as in 2018-2019.
Primarily because the Strategic Oil Reserve and now, the gasoline stockpiles have all been drained. Election year, ya' know.
I knew it would happen.
Drained stockpiles imputes to HIGHER prices as those stockpiles must be refilled thus increased buying pressure. As you know, lack of supply usually means higher prices. And since we are discussing futures prices, any near term known stimulus such as changing political policy is already factored into price.
But, to follow your "logic" I suppose we've drained our stockpiles of corn and wheat due to an upcoming election as those prices are also at same level as 5-6 years ago?
Knowledge is the enemy of fear
draining the reserves - consumer supply goes up
refilling the reserves - consumer supply goes down
Assuming demand is unchanged supply will affect price
Normally reserves get refilled when there is plenty of new supply which in turn decreases available consumer supply and helps prop up price
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Yes. And jmski said stockpiles are drained...hence no more supply.
Knowledge is the enemy of fear
jmski said stockpiles are drained...hence no more supply.
My understanding is that more than half of the Strategic Petroleum Reserve (crude oil) was sold off, some of it to China - specifically to lower gasoline prices (and the CPI) for political reasons during the driving season.
The brilliance of this move is such that now that the Reserve has been depleted, prices have risen back up and gov.com now doesn’t want to replenish the reserve because of the higher costs.
So now, just prior to the election they’ve been draining gasoline reserves to keep gasoline prices from rising and to create the illusion that all is well in paradise.
The first hint of a supply shortage will put us all in a major bind. Mismanagement at its worst. Carry on. Times are BOOMIN’ says blitzie.
I knew it would happen.
Strategic reserves should be held at all cost. Military with the last drops of oil will rule the world. No oil, no fighting machines.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Maybe things be BOOMIN'.... at least for some. Meanwhile, how are your Dollar General and Dollar Tree shares doing (but no inflation here!)
" Dollar Tree reported this morning that the macroeconomic environment is pressuring its middle—and higher-income consumers. Traffic increased during the quarter, but the average ticket size decreased. It said second-quarter comparable sales and adjusted earnings per share missed Wall Street's expectations. "
" *DOLLAR GENERAL SINKS 26% IN RECORD DROP ON SALES OUTLOOK CUT "