(07-11-2024 09:13 AM)Redwingtom Wrote:  

The post you posted is stupid. According to the chart provided "Inflation"(CPI) has "declined" multiple times since COVID. Inflation rate for June 2024 was 3%, just like it was in June 2023 because June 2022 was 9.1%. So 15.1% over three years. That's an Avg. of 5% per year over year June. It will look good for the next few months because it was so high in 2022. Not gonna lower rates with 3%.

(07-10-2024 11:52 PM)JMUDunk Wrote:  

(07-10-2024 01:55 PM)b0ndsj0ns Wrote:  

(07-10-2024 01:28 PM)UofMstateU Wrote:  

(07-10-2024 01:16 PM)b0ndsj0ns Wrote:  "One big reason for the disparity is that housing costs, which have continued to outpace core inflation as a whole, account for 43% of the core CPI basket but less than 18% of core PCE outlays."

This is exactly why there are polls out there that show millennials and especially Gen Z think the economy is deplorable despite all of this fluff you posted. If you owned a home prior to 2020 and have a hefty stock portfolio this economy is pretty awesome. Even with the rise in prices overall your assets have massively appreciated and you are doing pretty good. If you don't own those assets you are looking at a nightmare economic situation.

Yes. My company seriously increased my compensation in order to keep me around as inflation got so out of whack. Most of the young and working poor arent seeing that under Biden*.

My house and property has seriously increased in value due to inflation. Poeple who dont own arent able to realize those gains.

And to add insult to injury, if Biden* were to somehow get re-elected and not extend the Trump tax cuts, you and Tom will be paying for my $4k-$6k reduction in federal taxes.

At least you recently have seemed to start figuring it out. Tom still has his head planted way up his ass.

I didn't recently figure this out, it was the obvious reality the whole time that I've been living and I'm one of the way more well off ones of my generation. My compensation has doubled since the start of the Biden administration, but that would have happened whether Biden or Trump was president that was just advancement and experience in my career coming into my mid and now late 30's.

Rent here in Raleigh NC is just silly, and if I were making what we paid the entry level accountant who had just graduated college I hired in 2023 I absolutely know the only option for a living situation would be with my parents or with like at least 3 roommates. We hired her for basically the exact same pay that I got my first accounting job back in 2010, which was not an amazing time to be entering the job market with no experience.

I can remember the struggle that was, and you could rent a 2 bedroom apartment back then for several hundred less a month than a 1 bedroom costs now. My friend and I lived in a 2 bedroom in Raleigh for under 900 a month, you can not find a 1 bedroom in the hood for that now. I legit don't know how someone in their early 20's would get by now. I completely understand how they would look at this economic situation, and specifically the housing/rental situation, and just feel like it's completely hopeless until their parents die as morbid as that sounds.

Uh, ok.

My Son moves to Raleigh burbs in about 3 weeks (?).
Has a nice, newer one bedroom apt for 1100 month. Can walk to campus.

His place in NoVa was 4 college grads sharing a house. A pilot, IT guy, paralegal and stock trader guy and they each paid about 800 a month per.

Not sure where you’re coming from.

Are prices up? Oh, yea. Spike inflation and have the interest rates more than triple in 3 years and yes.

A mortgage at 2 grand a month for a nice place will now run you around 4400.
And?
Barking up the wrong tree. Jimma did this same thing 40 years ago.

This isn’t science, it’s basic economics. Sad how few understand this.

JMD, don't forget, you are not supposed to reference Inflation any more when complaining about economic stuff.... Everything is wonderful - remember?

(07-11-2024 09:22 AM)Eagleaidaholic Wrote:  

(07-11-2024 09:13 AM)Redwingtom Wrote:  

The post you posted is stupid. According to the chart provided "Inflation"(CPI) has "declined" multiple times since COVID. Inflation rate for June 2024 was 3%, just like it was in June 2023 because June 2022 was 9.1%. So 15.1% over three years. That's an Avg. of 5% per year over year June. It will look good for the next few months because it was so high in 2022. Not gonna lower rates with 3%.

You are not understanding this. Try again.

Chee wee, at 16 I was paying 26 cents a gallon but those tin lizzies were gas guzzlers.

The official 3% official inflation rate is still above the 2% Fed target and yet word stirs the Fed plans to cut rates in September. Just in time for the election.....

The OP touts the present bull market and it is true asset inflation ( (does anyone really believe the 611.6% increase since 2/2009 in equities is mainly due to an improved economy?) has lined the pockets of those owning plenty of stocks.

However, most Americans do not have sufficient savings to retire comfortably. The median retirement savings for American households is $87,000 while the figure is $18,800 for people younger than 35. Nearly half of American households have no retirement funds.

And younger people especially struggle to save for their own home. ".... just 40% of Gen Zers (ages 18 to 26 at the time of the November 2023 survey) and millennials (ages 27 to 42) currently own a home. Unsurprisingly, millennials (44%) are more likely to be homeowners than Gen Zers (31%). However, 84% of young Americans who’ve never owned a home say they want to in the future. "

https://www.lendingtree.com/home/mortgag...%20future.
https://usafacts.org/data-projects/retirement-savings
https://www.fool.com/research/average-re...t-savings/

People enjoying high salaries, COLA adjusted pensions and Social Security, and substantial stock portfolios and cash are prospering (until the shoe drops on servicing the crushing debt), but everyone else is losing ground.

(07-10-2024 11:52 PM)JMUDunk Wrote:  

(07-10-2024 01:55 PM)b0ndsj0ns Wrote:  

(07-10-2024 01:28 PM)UofMstateU Wrote:  

(07-10-2024 01:16 PM)b0ndsj0ns Wrote:  "One big reason for the disparity is that housing costs, which have continued to outpace core inflation as a whole, account for 43% of the core CPI basket but less than 18% of core PCE outlays."

This is exactly why there are polls out there that show millennials and especially Gen Z think the economy is deplorable despite all of this fluff you posted. If you owned a home prior to 2020 and have a hefty stock portfolio this economy is pretty awesome. Even with the rise in prices overall your assets have massively appreciated and you are doing pretty good. If you don't own those assets you are looking at a nightmare economic situation.

Yes. My company seriously increased my compensation in order to keep me around as inflation got so out of whack. Most of the young and working poor arent seeing that under Biden*.

My house and property has seriously increased in value due to inflation. Poeple who dont own arent able to realize those gains.

And to add insult to injury, if Biden* were to somehow get re-elected and not extend the Trump tax cuts, you and Tom will be paying for my $4k-$6k reduction in federal taxes.

At least you recently have seemed to start figuring it out. Tom still has his head planted way up his ass.

I didn't recently figure this out, it was the obvious reality the whole time that I've been living and I'm one of the way more well off ones of my generation. My compensation has doubled since the start of the Biden administration, but that would have happened whether Biden or Trump was president that was just advancement and experience in my career coming into my mid and now late 30's.

Rent here in Raleigh NC is just silly, and if I were making what we paid the entry level accountant who had just graduated college I hired in 2023 I absolutely know the only option for a living situation would be with my parents or with like at least 3 roommates. We hired her for basically the exact same pay that I got my first accounting job back in 2010, which was not an amazing time to be entering the job market with no experience.

I can remember the struggle that was, and you could rent a 2 bedroom apartment back then for several hundred less a month than a 1 bedroom costs now. My friend and I lived in a 2 bedroom in Raleigh for under 900 a month, you can not find a 1 bedroom in the hood for that now. I legit don't know how someone in their early 20's would get by now. I completely understand how they would look at this economic situation, and specifically the housing/rental situation, and just feel like it's completely hopeless until their parents die as morbid as that sounds.

Uh, ok.

My Son moves to Raleigh burbs in about 3 weeks (?).
Has a nice, newer one bedroom apt for 1100 month. Can walk to campus.

His place in NoVa was 4 college grads sharing a house. A pilot, IT guy, paralegal and stock trader guy and they each paid about 800 a month per.

Not sure where you’re coming from.

Are prices up? Oh, yea. Spike inflation and have the interest rates more than triple in 3 years and yes.

A mortgage at 2 grand a month for a nice place will now run you around 4400.
And?
Barking up the wrong tree. Jimma did this same thing 40 years ago.

This isn’t science, it’s basic economics. Sad how few understand this.

we both know what is just around the corner .... ~'30 ... it was always a simple numbers game - boomers vs. X'rs ... muh 401k/roth/worthlessLoans/etc

they're nowhere close to understanding the game that has already begun....

@theSadist #RPPP

this level of nasty is gonna be unparalleled .... the masses haven't seen this one, yet ..... hollyweird, nor history isn't anywhere close to equilibrium in devolution .... the fonziest is how she plays out .... many chapters are left to scribe and evolve w/o the opposable...

So what's happening in 2030? Simple English please.

Sent from my Pixel 7 using Tapatalk

(07-11-2024 04:15 PM)b2b Wrote:  So what's happening in 2030? Simple English please.

Are you asking some to predict the future 6 years out???

(07-12-2024 08:20 AM)Redwingtom Wrote:  

(07-11-2024 04:15 PM)b2b Wrote:  So what's happening in 2030? Simple English please.

Are you asking some to predict the future 6 years out???

Well hell, you act like you know everything else, why should predicting the future be out of your league?

(07-11-2024 03:43 PM)Tiger1983 Wrote:  The OP touts the present bull market and it is true asset inflation ( (does anyone really believe the 611.6% increase since 2/2009 in equities is mainly due to an improved economy?) has lined the pockets of those owning plenty of stocks.

However, most Americans do not have sufficient savings to retire comfortably. The median retirement savings for American households is $87,000 while the figure is $18,800 for people younger than 35. Nearly half of American households have no retirement funds.

And younger people especially struggle to save for their own home. ".... just 40% of Gen Zers (ages 18 to 26 at the time of the November 2023 survey) and millennials (ages 27 to 42) currently own a home. Unsurprisingly, millennials (44%) are more likely to be homeowners than Gen Zers (31%). However, 84% of young Americans who’ve never owned a home say they want to in the future. "

https://www.lendingtree.com/home/mortgag...%20future.
https://usafacts.org/data-projects/retirement-savings
https://www.fool.com/research/average-re...t-savings/

People enjoying high salaries, COLA adjusted pensions and Social Security, and substantial stock portfolios and cash are prospering (until the shoe drops on servicing the crushing debt), but everyone else is losing ground.

I saw the media 401(k) balance for someone my age the other day. I have over 4x that number and I even think I'm behind. Not sure there isn't a crisis relating to that in 20 years.

(07-11-2024 07:53 AM)Redwingtom Wrote:  

(07-10-2024 02:17 PM)VA49er Wrote:  No, the Fed has not been on the verge of cutting interest rates since January. It's been exactly the opposite.

Who said that?

It was in your original post.....

Quote:The Federal Reserve has appeared to be on the threshold of cutting rates since January.

People are so numb to all this now that they are not paying any attention to the bigger picture and that is Compounding!

With prices rising so rapidly you would think they would slow down more rapidly, but it is not. Is 3% terrible - no.

It is not the desired number of 2%, but 3% still hurts more when it is on top of a very high [recent] period of time.

(07-12-2024 09:11 AM)VA49er Wrote:  

(07-11-2024 07:53 AM)Redwingtom Wrote:  

(07-10-2024 02:17 PM)VA49er Wrote:  No, the Fed has not been on the verge of cutting interest rates since January. It's been exactly the opposite.

Who said that?

It was in your original post.....

Quote:The Federal Reserve has appeared to be on the threshold of cutting rates since January.

Wholesale prices rose higher than expected in June

Quote:The producer price index climbed 0.2% last month, the Labor Department’s Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones were expecting a 0.1% increase for the index. The PPI is now up 2.6% over the past year.

The PPI is a gauge of prices that producers can get for their goods and services in the open market. In June, a rise in the price for services offset a decline for goods.

The reading is an increase from the May number, which was also revised higher. Friday’s report said that the index was unchanged in May as compared with a decline of 0.2% in the original release.

Oh and for the record, I assume y'all have seen the spike on gas the last two weeks?

Don't worry though, that doesn't count when the inflation numbers post next month.

Dow back up over 40k and hit an all-time high a bit ago.

(07-12-2024 11:50 AM)Redwingtom Wrote:  Dow back up over 40k and hit an all-time high a bit ago.

And yet groceries still cost a small fortune.