Posted on 07/13/2022 7:20:45 AM PDT by tanstaafl.72555
U.S. consumer prices in June accelerated at the fastest annual pace since November 1981.
(Excerpt) Read more at finance.yahoo.com ...
By the way, I’m an optimist.
Ukraine has zero effect on gas prices. Now Russia can turn the spigot off on Europe in the fall and raise natural gas prices through the roof.
I predict they’ll suspend trading before the end of the day.
*************
It wouldn’t surprise me one bit if the market closed up today.
Strange stuff going on.
Excellent post. The huge ocean tanker of inflation is in motion at high speed. It is going to take a LONG time to turn it or turn it around...a VERY long time. This time, they are actually going to ruin this country morally and economically.
Was talking to a well-educated man who made his money from oil & gas this morning a few minutes ago with a Biden-Harris sticker on his truck. I asked him why he was supporting this administration, honestly. He talked to me without rancor and said he voted against Trump because he was immoral - has had three wives. I said that I didn’t like that either and mentioned Hunter’s immorality and that of Kamala Harris. He brushed that aside and indicated he didn’t believe she slept her way to the top (that needs to be better documented for folks that can’t see what she did). It finally came down to he REALLY believes in Climate Change.
His point was we have to do something about fossil fuels (he already made his money) because they will destroy the climate. A LOT of people believe this. Don’t see much hope.
I think anyone with some common sense saw this coming.
This is a Democrat mess. They were behind Covid and the shut downs, the easy money, the massive social spending and extension of unemployment benefits, extra Covid payments, payments to every business impacted, payments to hospitals, "free" testing, "free" vaccine... They used Covid to win the elections and shut down the economy while spending like a drunk sailor. Then after they won the elections they decided to spend unprecedented amounts in their federal budget and for infrastructure (with a very broad definition of what that is). Then Biden got us into a war and we're hemorrhaging money there...
https://datalab.usaspending.gov/americas-finance-guide/images/deficit-trends-viz.svg
But it's all good.
All they need to do is use the word “sustainable” in a speech and everything will be OK.
Perceptions are reality, so if the government just keeps saying inflation is low, the economy is good, we're winning in Ukraine, Biden isn't senile, 6 January was an insurrection (not the election fraud), Biden won the elections fair and square - and everything bad is Trumps fault... it will BECOME true.
I’m okay with it. Let it go.
Wow. Thank you. Had this very thing come up with my old lady yesterday. I said that I wanted to get chickens to help with our food situation and she got angry and couldn’t understand why. Glad to hear they come around eventually.
What’s your thoughts on buying property? I live in Eastern,PA and we have been wanting to move and could easily but my parents and family are all here. My sister just passed away and my parents are 80 years old and need us nearby.
We thought of moving and having them come with us but they refuse because all their doctors are here along with family. That’s when we thought to buy property in WV or KY as it’s less expensive but is at a historical high right now. Thoughts?
All our problems are ‘transient’. /sarc
COLA is based Q3-2022 vs. Q3-2021. Unless they build a time machine, there is no unbaking the cake.
“I predict they’ll suspend trading before the end of the day.”
Get a grip on reality, DOW now down 196.
Human sacrifice, dogs and cats living together, mass hysteria!
Nasdaq is now in the green and S&P is down just .26%.
You’re right, strange things are going on.
“It wouldn’t surprise me one bit if the market closed up today.
Strange stuff going on.”
THIS ^^^^^^^^
Under Bush and then Obama, the fed had a “plunge protection team” whose job was to dump cascades of money into a plunging market to “stabilize” it.
Would not surprise me in the least if that were still happening.
The person who views equities and commodities as honset markets which represent the truly valued companies and entities they represent are.... let’s be gracious and say “in for a rude awakening.”
Having lived through the inflation of the late 1970s early 1980s, look for interest rates to hit double digits. We bought our first home in 1979 with a 11.25% 30 year fixed rate mortgage and considered ourselves lucky…within 6 months 30 year fixed rate mortgages were at 15-16%. Some home buyers took the risk with adjustable rate mortgages and got burned when interest rates continued to climb and they soon could not afford the payments. Auto loans were as I recall 9%.. I also remember gasoline well over $2 per gallon…adjusted to today’s dollars about what were are currently paying.
Ronald Reagan and Paul Volker made the right choice to get the economy going and stopped the economic stimulus money that had fueled the stagflation. It was rough going, but the economy roared back fueled by Reagan’s tax cuts
Enter, The Plunge Protection Team.
A fantasy for everything. Now down 119, .36%.
I’m up nicely today. What stocks/bonds one owns matter.
And then the Reagan Renaissance will follow. If we are not destroyed first.
“Having lived through the inflation of the late 1970s early 1980s”
That’s when I first started buying land. Worked out great. It was a tough time for the over-extended, people worth millions went broke. But those of us just starting did fine. I bought a piece of land in the mid-80’s with sibling partners, that worked out great too. Sold half of it a few years later and paid off the remaining land. Just sold the last part of it 3 years ago but kept the mineral rights which have been producing nat gas income for over a decade. When we bought it my brother said, “we’ll retirement off this, and he was right. He was a land analyst for Shurgard Storage. I retired at 60 off buying land, long before selling the piece above.
All situations have their silver lining if you don’t listen to all the silly stuff.
I meant to say the Ukraine situation aka war, sorry that wasn’t more obvious
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