Almost anyone going to the grocery store regularly will tell you inflation is much higher for them than reported.

For example, my wife, who does most of the shopping, often sees increases on some items weekly. My father, who never shops these days, is shocked by the grocery prices from just four years ago when I show him receipts.

Inflation harms everyone, but particularly the poor who tend to not have COLA's or large appreciating assets.

(05-14-2024 01:38 PM)Tiger1983 Wrote:  Almost anyone going to the grocery store regularly will tell you inflation is much higher for them than reported.

For example, my wife, who does most of the shopping, often sees increases on some items weekly. My father, who never shops these days, is shocked by the grocery prices from just four years ago when I show him receipts.

Inflation harms everyone, but particularly the poor who tend to not have COLA's or large appreciating assets.

My wife says the same thing when she gets back from the store every week.

Bidenomics at Work: Fed Chief Says Inflation 'Higher Than I Think Anybody Expected,' No Interest Rate Cut

Quote:As we’ve reported, the administration has backed off using the term “Bidenomics” because they found that the moniker wasn’t being received by the public with much enthusiasm. In fact, most Americans know that under Bidenomics, their quality of life has suffered with rampant inflation eating into their spending power and interest rates making borrowing painful.

What Treasury Secretary Janet Yellen once called “transitory inflation” has turned out to be truly stubborn, and despite several interest hikes by the Federal Reserve, prices continue to shoot up.

Speaking at the annual general meeting of the Foreign Bankers’ Association in Amsterdam, Federal Reserve Chairman Jerome Powell said that despite their efforts, the inflation rate remains surprising.

“We did not expect this to be a smooth road. But these [inflation readings] were higher than I think anybody expected,” Powell said. “What that has told us is that we’ll need to be patient and let restrictive policy do its work.”

While he expects inflation to come down through the year, he noted that hasn’t happened so far.

“I do think it’s really a question of keeping policy at the current rate for longer than had been thought,” he said.

I’m unclear what was "unexpected." The minute the $1.2 trillion Inflation Reduction Act was signed into law in 2022, anyone with thinking power knew that pumping such huge sums into the economy would increase inflation.

He also said ominously during the talk that the U.S. is headed in a fiscally unsustainable direction:

For all those suffering from the sky-high interest rates, which among other things make buying a house virtually impossible for many, it does not look as if help is on its way:

Powell indicated that he thinks the overnight borrowing rate will stay the same for the near future:

However, Powell also repeated that he does not expect the Fed to be raising rates.

The Fed has been holding its key overnight borrowing rate in a targeted range of 5.25%-5.5%. Though the rate has been there since July, it is the highest level in some 23 years.

“I don’t think that it’s likely, based on the data that we have, that the next move that we make would be a rate hike,” he said. “I think it’s more likely that we’ll be at a place where we hold the policy rate where it is.”

The president may have dropped the term "Bidenomics," but I think conservatives and Republicans should use it every chance they get to remind us who got us into this mess.

But no media outlet will call him the brain dead liar that he is. Trump will point out the inflation #s, the biased “fact checkers” will say Trump is lying and low IQ Dems like Tom, Krushev, and that horse dude will actually believe them.


You can’t fix stupid, and let’s face it, every leftist Dem is fkn stupid. You can’t be a lib and not be a moron

Although you can be a moron and not be a lib

For all Blacks who think voting D is doing them any favors should read this.

https://www.brookings.edu/articles/black...ealth-gap/

Blacks get poorer under Democrat controlled Governments. Who would have thought.

But, that is NOT what Joe is saying.

Pinocchio never had a chance against Joe.[/align]

(05-14-2024 02:53 PM)Redbanksdog Wrote:  

(05-14-2024 01:38 PM)Tiger1983 Wrote:  Almost anyone going to the grocery store regularly will tell you inflation is much higher for them than reported.

For example, my wife, who does most of the shopping, often sees increases on some items weekly. My father, who never shops these days, is shocked by the grocery prices from just four years ago when I show him receipts.

Inflation harms everyone, but particularly the poor who tend to not have COLA's or large appreciating assets.

My wife says the same thing when she gets back from the store every week.

Yep, and it's hitting traditionally lower priced stores as well. We do lots of our shopping at Aldi. There was this can of peanuts I used to buy for .95 cents. It's over $2 now. I simply don't buy them anymore. Not that I can't afford them, i just refuse to pay. I'll buy a bag of oranges instead.

(05-15-2024 07:45 AM)VA49er Wrote:  

(05-14-2024 02:53 PM)Redbanksdog Wrote:  

(05-14-2024 01:38 PM)Tiger1983 Wrote:  Almost anyone going to the grocery store regularly will tell you inflation is much higher for them than reported.

For example, my wife, who does most of the shopping, often sees increases on some items weekly. My father, who never shops these days, is shocked by the grocery prices from just four years ago when I show him receipts.

Inflation harms everyone, but particularly the poor who tend to not have COLA's or large appreciating assets.

My wife says the same thing when she gets back from the store every week.

Yep, and it's hitting traditionally lower priced stores as well. We do lots of our shopping at Aldi. There was this can of peanuts I used to buy for .95 cents. It's over $2 now. I simply don't buy them anymore. Not that I can't afford them, i just refuse to pay. I'll buy a bag of oranges instead.

Do you know what the bag of oranges cost when the peanuts were $1.....

you are saving money on the $2 peanuts. but your butthole will probably thank you for the oranges.

(05-14-2024 02:53 PM)Redbanksdog Wrote:  

(05-14-2024 01:38 PM)Tiger1983 Wrote:  Almost anyone going to the grocery store regularly will tell you inflation is much higher for them than reported.

For example, my wife, who does most of the shopping, often sees increases on some items weekly. My father, who never shops these days, is shocked by the grocery prices from just four years ago when I show him receipts.

Inflation harms everyone, but particularly the poor who tend to not have COLA's or large appreciating assets.

My wife says the same thing when she gets back from the store every week.

Our grocery store cost increased 35% from April 2020 to April 2024.

(05-15-2024 07:59 AM)WKUYG Wrote:  

(05-15-2024 07:45 AM)VA49er Wrote:  

(05-14-2024 02:53 PM)Redbanksdog Wrote:  

(05-14-2024 01:38 PM)Tiger1983 Wrote:  Almost anyone going to the grocery store regularly will tell you inflation is much higher for them than reported.

For example, my wife, who does most of the shopping, often sees increases on some items weekly. My father, who never shops these days, is shocked by the grocery prices from just four years ago when I show him receipts.

Inflation harms everyone, but particularly the poor who tend to not have COLA's or large appreciating assets.

My wife says the same thing when she gets back from the store every week.

Yep, and it's hitting traditionally lower priced stores as well. We do lots of our shopping at Aldi. There was this can of peanuts I used to buy for .95 cents. It's over $2 now. I simply don't buy them anymore. Not that I can't afford them, i just refuse to pay. I'll buy a bag of oranges instead.

Do you know what the bag of oranges cost when the peanuts were $1.....

you are saving money on the $2 peanuts. but your butthole will probably thank you for the oranges.

I basically have price points for everything. I'll buy oranges when on sale, which is now. From what I can remember, oranges have been relatively consistent price wise,, unless theres some weather event, etc.

(05-15-2024 08:53 AM)VA49er Wrote:  

(05-15-2024 07:59 AM)WKUYG Wrote:  

(05-15-2024 07:45 AM)VA49er Wrote:  

(05-14-2024 02:53 PM)Redbanksdog Wrote:  

(05-14-2024 01:38 PM)Tiger1983 Wrote:  Almost anyone going to the grocery store regularly will tell you inflation is much higher for them than reported.

For example, my wife, who does most of the shopping, often sees increases on some items weekly. My father, who never shops these days, is shocked by the grocery prices from just four years ago when I show him receipts.

Inflation harms everyone, but particularly the poor who tend to not have COLA's or large appreciating assets.

My wife says the same thing when she gets back from the store every week.

Yep, and it's hitting traditionally lower priced stores as well. We do lots of our shopping at Aldi. There was this can of peanuts I used to buy for .95 cents. It's over $2 now. I simply don't buy them anymore. Not that I can't afford them, i just refuse to pay. I'll buy a bag of oranges instead.

Do you know what the bag of oranges cost when the peanuts were $1.....

you are saving money on the $2 peanuts. but your butthole will probably thank you for the oranges.

I basically have price points for everything. I'll buy oranges when on sale, which is now. From what I can remember, oranges have been relatively consistent price wise,, unless theres some weather event, etc.

I don't buy them often but those small Mandarin oranges has doubled around here.

I use to load up on single size bags of Almonds at Dollar Tree...10 to 15 bags basically taking all they had at a time. They are still there but smaller bags and $1.25. Walnuts from Walmart have at least doubled. Ate them all the time but I had to lower my intake, because of the 'outtake'

eating them like I did was not good for #2

(05-15-2024 02:57 PM)WKUYG Wrote:  eating them like I did was not good for #2

Works wonders for my #2.

Oh wait....

“Inflation Puts More Retirees at Risk of Running Out of Money”

Takeaways

1. “ High inflation later in life is often harmful to retirement security,” said Laura Quinby a senior research economist at Boston College’s Center…”

2. Projections indicate inflation will cause higher retiree withdrawals which in turn could result in a 14.5% drop in financial wealth by the middle class. The wealthier third like Obama, Trump, Biden, Romney, Sanders, Pelosi, etc are expected to lose only about 4.3%. The bottom third will suffer the most at 18.8%

3. Inflation will cause a projected 21.7% financial wealth decline for the bottom third of near retirees. These people may have to work longer - assuming they can find employment and health permits.

https://www.wsj.com/personal-finance/ret...41?mod=mhp