Posted on 08/14/2024 4:05:39 AM PDT by CFW
This article at zerohedge digs a little deeper into Home Depot’s latest earnings numbers.
The price of Big Macs are more an indicator as everyone likes them.
This election will truly be “Do you believe us or your lyin’ eyes”. The media is all in for Kamalamadingdong, but I believe every day Americans will be reminded of the truth every time they go to the grocery store and gas station.
7/16 OSB sheathing is exactly twice the price of pre-covid days. Did anyone’s pay double since pre-covid?
I quit buying them when they morphed into Little Macs.
2019 through 2021 saw big home resales as interest rates were still down and prices jumped. The sales and purchases caused all of us to spend a lot on repair and remodel. With prices still solid but sales sluggish due to mortgages some of that urgency to fiix and renovate has slowed.
I spent too damn much on those issues. However i spent over a grand for a grill replacement at Home Depot last week. Will assemble that thing today.
Big macs suck. A real hamburger doesn’t need anything sauce. Salt and Pepper (mustard, onions, tomatoes). What irks me is going out to a steakhouse that wants to screw up a steak with some chief special sauce crap. Old restaurants like Cattlemen’s in Ft. Worth put your steak on a plate, that is how meat is eaten. They are full every day.
“7/16 OSB sheathing is exactly twice the price of pre-covid days. Did anyone’s pay double since pre-covid?”
No. No one has had their pay double.
Democrats and their media keep existing that wages have pretty much kept up with inflation. Of course, they are mainly using information from high paid salaried workers whose pay has increased from $200k to 240k over the past couple of years. Most lower waged workers may have seen their pay increase from $12.00 to $12.90 or $23.50 to 25.00 bucks an hour, but that’s not even enough to pay for the increase in gas prices.
In the overall scheme of things nobody goes to Cattleman’s but everyone knows what a Big Mac is-a little Mac too.
Great comments at zero hedge. Also the fact that a lot of merchandise is locked up to slow the thieves from looting the stores. That is disturbing to many customers. That and Made in CHYNA get some customers ticked off and they leave. Examine hardware. You see quite a few empty packages of small priced stolen merchandise. Less sales leads to reduction in orange aprons on the floor, which also affects customer service.
Because home depot and Lowes tripled their prices when their costs have only gone up 35%. Folks are finally catching on to the dishonest mark up scams and price fixing and refusing to pay it.
“7/16 OSB sheathing is exactly twice the price of pre-covid days. Did anyone’s pay double since pre-covid?”
Exactly right. Currently their own costs are only up 35% yet they are still marking everything up 100% or more. This is more than just “covering costs”.
I wish FR would let us post articles here from ZeroHedge. They are especially good at looking below the surface on the jobs and unemployment numbers.
I’m a sales rep in hardware, and I deal directly at the store level. I can assure everyone that we are in a deep recession, and have been for some time. I also manufacture and sell magazine loaders at gun shows, and they are doing even worse.
“Most Americans Believe That the U.S. Economy Is Already in a Recession”
You ain’t seen nothing yet.
“I’m a sales rep in hardware, and I deal directly at the store level. I can assure everyone that we are in a deep recession, and have been for some time. I also manufacture and sell magazine loaders at gun shows, and they are doing even worse.”
I believe you. Everyone I know, everyone I speak interact with on social media, heck everyone here at FR, has dramatically cut back on their spending. They have no choice. Housing, utilities, insurance, taxes, and groceries take every bit of their monthly income. Unexpected expenses such as appliance repair/replacement or auto repair goes on the charge card.
And of course, we see the job lay-offs which the media barely mentions. Companies are laying off or instituting hiring freezes so moving from one job to another for higher pay is no longer an option in most fields of work.
They are doing it to themselves. Hyper short term profits over long term sustainability of their own markets. I survived Carter, Clinton, and Obama by tightening my own belt to stay in business and get through. Everyone refuses to do that. They would rather lose it all than temporary tighten their own belts to help improve and sustain the economy for the long run. They are shooting themselves in the foot.
In NYS there’s something additional in the mix.
A lot of of improvements require a permit.
Or else.
Get the permit, do or have the work done, and watch your assessment get jacked.
Then watch your property taxes soar accordingly.
People are also noticing that nicer homes are sitting on the market longer, are more likely to have to cut the selling price in order to sell.
And even people who can afford the mortgage are balking at paying annual four to five property taxes.
Not an enticement to remodel, is it.
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