People are taking advantage of the huge reduction in gas prices, cheap fuel allows some to fill up extremely cheap as compared to 2011 prices,
They will drive twice as much in order to take advantage of these prices... in effect spending even more money on gas than at the much higher prices...
<< <i>People are taking advantage of the huge reduction in gas prices, cheap fuel allows some to fill up extremely cheap as compared to 2011 prices,
They will drive twice as much in order to take advantage of these prices... in effect spending even more money on gas than at the much higher prices... >>
If thru that driving they become more productive, and create more wealth, then it's a good thing.
I'm sure USPS will need more hikes too. If others are like me, I bought a few forever stamps years ago and only used a few each year. Looking at the mail in my box, almost nothing is regular stamped mail. It's all bulk rate ads and stuff. It's getting so that raising the stamp prices won't be much revenue.
Let's not kid ourselves. Our government has nothing to do with the drop in gas prices. Saudi Arabia, for reasons unknown to economists everywhere (it's been on the news for a week at least) is letting the price of gas drop. That is why our prices are so low now. I wish I could say it was Obama's attempt to create an economic boom, but it's not.
Price of gas drops every year during Fall, and rises every year during Spring. Peaking in Summer just in time for those road trip vacations. Hmm I wonder why?
The price of gas is down most notably due to world over supply, i.e. US now producing substantial oil, plus the reduction in demand due to more efficient cars, down turn in Europe, etc. One of the problems faced by major oil exporting countries is that they have budgeted their governments at $100 a barrel (Plus or minus depending upon type, etc.) and their revenue is now around $80. Due they turn off the tap so others can benefit from higher prices or continue to pump their way out of it? Cartels only work when demand outstrips supply. When the reverse is true, all bets are off. US shale oil is a major factor in this.
Retired United States Mint guy, now working on an Everyman Type Set.
<< <i>The price of gas is down most notably due to world over supply, i.e. US now producing substantial oil, plus the reduction in demand due to more efficient cars, down turn in Europe, etc. One of the problems faced by major oil exporting countries is that they have budgeted their governments at $100 a barrel (Plus or minus depending upon type, etc.) and their revenue is now around $80. Due they turn off the tap so others can benefit from higher prices or continue to pump their way out of it? Cartels only work when demand outstrips supply. When the reverse is true, all bets are off. US shale oil is a major factor in this. >>
You hit the nail on the head with the above comment. btw...US oil imports are down by 15% year to date.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Poor inflation report has gotten ignored with the slumping prices at the pump. As well, Renman can now add some pelican gizzards to his soba noodles as the dollar has appreciated vs the Yen.
Are any of the oil dependent industries cutting prices as well? ie air travel, package delivery Uber fares?
Eggs Benedict at the local breakfast place popped a buck to $9.50. Tough to tell when as I was last there a year ago. Most likely a response to the bacon pop early in the year, but doubtful that it will decline. Don't eat the stuff so the cola does not apply per DC.
One inflation indicator I've used reliably for 40 years now is the retail price of one normal sized candy bar, such as a baby ruth or snickers (my favorites)
When I was a kid, I remember when these went from a quarter each to 30 cents for one (of course, not counting bulk packs, which are cheaper per bar, nor specific places like airports, movie theaters, or well-placed vending machines, where they are higher... just the normal grocery store, non "on sale" price)
Ever since, they've crept up by a nickel every few years, until now they cost about 85 cents each around here (what do they go for in your area?)
<< <i>One inflation indicator I've used reliably for 40 years now is the retail price of one normal sized candy bar, such as a baby ruth or snickers (my favorites)
When I was a kid, I remember when these went from a quarter each to 30 cents for one (of course, not counting bulk packs, which are cheaper per bar, nor specific places like airports, movie theaters, or well-placed vending machines, where they are higher... just the normal grocery store, non "on sale" price)
Ever since, they've crept up by a nickel every few years, until now they cost about 85 cents each around here (what do they go for in your area?) >>
At convenience stores I've noticed $1.19 each or 2 for 2 bucks. At the grocery store I see 79 cents for the ones near the checkout counter
Uh huh. A bait and switch using inflation adjusted numbers.
In 1965 the standard Hershey bar was 5c (1 oz). A few years later they increased the bar size to 1.5 oz and set the price at 10c. Those larger bars are similar to what you pay 75c-$1 for today (1.55 oz). The bars have shrunk and the price has gone up. 5c/1 oz "mini" bar was the going rate for a Hershey bar in 1965 (80c/lb).
Rather than "No Inflation" here from the NYTimes.....they should have titled the article "Bait & Switch Sold Here." Even a 5th grader could figure this one out. The NYTimes is just doing the usual brain-washing to convince J6P that his eyes are deceiving him and prices haven't really gone up in 50 years. The BLS CPI has increased 7.64X since 1965, which is nearly on the money for a 10c candy bar going up to 75c. The NYTimes might as well have done an article on the CPI over the past 50 years stating that it was "unchanged" and prices haven't gone up.
I don't know what goes into today's candy bars. But, I'd be willing to bet the ingredients are not quite as wholesome and natural than they were in 1964.....just guessing though.
A few years ago at the grocery stores , walmart etc you could get 8 of the mini bars for a buck in 1 package. Then last year the package became "new and improved" the chief improvement being a it became a 6 pack instead of an 8 pack.
<< <i>Ever since, they've crept up by a nickel every few years, until now they cost about 85 cents each around here (what do they go for in your area?) >>
...and watch the size reduction as well. A Dime bought a candy bar in the mid 1960's. Grocery store sold a 5 pack of chewing gum for 4 cents.
.....20 years ago I started to sound like my father. Now I sound like my grandfather.
20 years ago I started to sound like my father. Now I sound like my grandfather.
That's how time works.. every generation of old folks bemoans "kids these days" and "the damn government these days" and "damn corrupt business these days"
<< <i>20 years ago I started to sound like my father. Now I sound like my grandfather.
That's how time works.. every generation of old folks bemoans "kids these days" and "the damn government these days" and "damn corrupt business these days" >>
Nah, I was griping about Reagan's overspending in the early 1980's. Verbosity has only increased with the declining quality and integrity of governance.
A few days ago while on business I paid $2.60 for gas in Western Colorado. Yesterday I paid $2.45 here in West Oahu! Cheaper in Hawaii?!? A first for me.
Was in the Carolinas this last week….gas at $1.89/gal. California is high at $3.29/gal where I live even though the refineries are only 10 miles away. The usual bs about some being down for "maintenance", or broken or ???
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How do you read this chart? Is it the percent change from the prior CPI? Is the CPI calculated quarterly? Is the medical care 75% higher in 2015 than 2000 or is it that the medical costs increased 75% over the previous year or previous quarter?
I am very surprised the housing costs did not decrease a lot in 2009.
Its a year over year change of the CPI, broken down into the major components of the CPI. Read it like you would any chart that shows change over time. It shows percentage change since Jan. 2000.
My sister just filled up with gas in Michigan. $1.79 a gallon
mark
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Who says inflation is down? Just because oil is way down how does that make anything else more affordable? Healthcare increases alone wipes out any gain I'm seeing at the gas pump.
Inflation is not down, it has just not exploded - yet. The chart I posted a couple of post down shows, with the exception of transportation (oil), a continuing, steady rise, even in the face of asset deflation. Wadda ya thinks gonna happen when asset deflation is contained?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Originally posted by: Baley 5lb boxes of cigar minnows are ridiculously over priced..$24 bucks!
How much "should" they cost?
They used to be priced as cheap or cheaper than sardines, $10 a box or so. It's just strange they went up so much, we get them on the sabiki as often as sardines.
I'm thinking of quitting fishing for grouper and just going for cigar minnows. Not sure they're quite as tasty though ;~
Comments
Too many positive BST transactions with too many members to list.
They will drive twice as much in order to take advantage of these prices...
in effect spending even more money on gas than at the much higher prices...
Speaking of gas , does anyone else use links like this? gas buddy
<< <i>
<< <i>UPS just announced 4.9% post holiday rate hike.
Maybe deflation is not the problem that it was a week ago!
Use email. Pay your bills online. I use lots less stamps than I did a decade ago. >>
Very true. I only mail one bill each month.
Old coins are tough to email though. 3D printing might work!
<< <i>People are taking advantage of the huge reduction in gas prices, cheap fuel allows some to fill up extremely cheap as compared to 2011 prices,
They will drive twice as much in order to take advantage of these prices...
in effect spending even more money on gas than at the much higher prices... >>
If thru that driving they become more productive, and create more wealth, then it's a good thing.
I'm sure USPS will need more hikes too. If others are like me, I bought a few forever stamps years ago and only used a few each year.
Looking at the mail in my box, almost nothing is regular stamped mail. It's all bulk rate ads and stuff. It's getting so that raising the stamp prices won't be much revenue.
Boomtown...
Price of gas drops every year during Fall, and rises every year during Spring. Peaking in Summer just in time for those road trip vacations. Hmm I wonder why?
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The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
it depends on which and when
Liberty: Parent of Science & Industry
<< <i>Saudi Arabia is making the price drop to put the squeeze on Iran. >>
Not sure if true, but just read a story that Irans economy is based on $135 oil. If true they will be in a world of hurt soon.
Venezuela can kiss its butt goodbye as well.
<< <i>The price of gas is down most notably due to world over supply, i.e. US now producing substantial oil, plus the reduction in demand due to more efficient cars, down turn in Europe, etc. One of the problems faced by major oil exporting countries is that they have budgeted their governments at $100 a barrel (Plus or minus depending upon type, etc.) and their revenue is now around $80. Due they turn off the tap so others can benefit from higher prices or continue to pump their way out of it? Cartels only work when demand outstrips supply. When the reverse is true, all bets are off. US shale oil is a major factor in this. >>
You hit the nail on the head with the above comment. btw...US oil imports are down by 15% year to date.
From today's NY Times web site.
No inflation there!
<< <i>Sorry I no linky....Happy Halloween all! >>
Are any of the oil dependent industries cutting prices as well? ie air travel, package delivery Uber fares?
Eggs Benedict at the local breakfast place popped a buck to $9.50. Tough to tell when as I was last there a year ago. Most likely a response to the bacon pop early in the year, but doubtful that it will decline. Don't eat the stuff so the cola does not apply per DC.
When I was a kid, I remember when these went from a quarter each to 30 cents for one (of course, not counting bulk packs, which are cheaper per bar, nor specific places like airports, movie theaters, or well-placed vending machines, where they are higher... just the normal grocery store, non "on sale" price)
Ever since, they've crept up by a nickel every few years, until now they cost about 85 cents each around here (what do they go for in your area?)
Liberty: Parent of Science & Industry
<< <i>One inflation indicator I've used reliably for 40 years now is the retail price of one normal sized candy bar, such as a baby ruth or snickers (my favorites)
When I was a kid, I remember when these went from a quarter each to 30 cents for one (of course, not counting bulk packs, which are cheaper per bar, nor specific places like airports, movie theaters, or well-placed vending machines, where they are higher... just the normal grocery store, non "on sale" price)
Ever since, they've crept up by a nickel every few years, until now they cost about 85 cents each around here (what do they go for in your area?) >>
At convenience stores I've noticed $1.19 each or 2 for 2 bucks. At the grocery store I see 79 cents for the ones near the checkout counter
<< <i>Yeah, some things are cheaper than even 50 years ago!
From today's NY Times web site.
No inflation there!
Uh huh. A bait and switch using inflation adjusted numbers.
In 1965 the standard Hershey bar was 5c (1 oz). A few years later they increased the bar size to 1.5 oz and set the price at 10c. Those larger bars are similar to what you pay 75c-$1 for today (1.55 oz). The bars have shrunk and the price has gone up. 5c/1 oz "mini" bar was the going rate for a Hershey bar in 1965 (80c/lb).
Rather than "No Inflation" here from the NYTimes.....they should have titled the article "Bait & Switch Sold Here." Even a 5th grader could figure this one out. The NYTimes is just doing the usual brain-washing to convince J6P that his eyes are deceiving him and prices haven't really gone up in 50 years. The BLS CPI has increased 7.64X since 1965, which is nearly on the money for a 10c candy bar going up to 75c. The NYTimes might as well have done an article on the CPI over the past 50 years stating that it was "unchanged" and prices haven't gone up.
I don't know what goes into today's candy bars. But, I'd be willing to bet the ingredients are not quite as wholesome and natural than they were in 1964.....just guessing though.
Favorite food costs over the years
A few years ago at the grocery stores , walmart etc you could get 8 of the mini bars for a buck in 1 package. Then last year the package became "new and improved" the chief improvement being a it became a 6 pack instead of an 8 pack.
<< <i>Ever since, they've crept up by a nickel every few years, until now they cost about 85 cents each around here (what do they go for in your area?) >>
...and watch the size reduction as well. A Dime bought a candy bar in the mid 1960's. Grocery store sold a 5 pack of chewing gum for 4 cents.
.....20 years ago I started to sound like my father. Now I sound like my grandfather.
That's how time works.. every generation of old folks bemoans "kids these days" and "the damn government these days" and "damn corrupt business these days"
Liberty: Parent of Science & Industry
And you know Obama will take credit.
Tom
<< <i>20 years ago I started to sound like my father. Now I sound like my grandfather.
That's how time works.. every generation of old folks bemoans "kids these days" and "the damn government these days" and "damn corrupt business these days" >>
Nah, I was griping about Reagan's overspending in the early 1980's. Verbosity has only increased with the declining quality and integrity of governance.
Bottles of Maker's Mark bourbon (740 mL) are over $20 retail
Liberty: Parent of Science & Industry
California is high at $3.29/gal where I live even though the refineries are only 10 miles away.
The usual bs about some being down for "maintenance", or broken or ???
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>Wow in California I pay $3.20 >>
Here is how the politicians are looking out for the people of California , Senate Bill 350
Paid $1.99 for a six pack of Coke 16 oz. bottles. Lowest in years.
Property taxes creeping up.
$250 each for Yankees tickets Saturday. Next to empty seats.
Seems like a bad pricing model.
<< <i>
<< <i>Wow in California I pay $3.20 >>
Here is how the politicians are looking out for the people of California , Senate Bill 350 >>
Yea rough, he is anti many things that do not make sense. I hope it does not pass.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I am very surprised the housing costs did not decrease a lot in 2009.
More about the chart and CPI components found here
Keep in mind that government data is calculated differently than that of reality. He who writes the formula controls the result.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Knowledge is the enemy of fear
That is not good for an economy that functions best with around 2% inflation.
Less working means less are spending.
Who says inflation is down? Just because oil is way down how does that make anything else more affordable? Healthcare increases alone wipes out any gain I'm seeing at the gas pump.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Although the cost of getting to your spot and using them has gone down.
How much "should" they cost?
Liberty: Parent of Science & Industry
5lb boxes of cigar minnows are ridiculously over priced..$24 bucks!
How much "should" they cost?
They used to be priced as cheap or cheaper than sardines, $10 a box or so.
It's just strange they went up so much, we get them on the sabiki as often as sardines.
I'm thinking of quitting fishing for grouper and just going for cigar minnows.
Not sure they're quite as tasty though ;~
Knowledge is the enemy of fear
I knew it would happen.