Jump to content

Inflation sucks bruh: JPow's Jihad


Recommended Posts

48 minutes ago, sblfilms said:

We are more likely than not about to have a 2022 recession. A 2023 recession would be extra spicy.

 

107063423-1652902320958-GettyImages-1240
WWW.CNBC.COM

The probability of a recession within the next year is 30% according to a survey of economists, but that outlook depends a lot on where inflation is headed.

 

Link to comment
Share on other sites

1 hour ago, CitizenVectron said:

I am glad to be in an industry (education) that is generally recession-proof. 

 

 

I imagine what I'm experiencing at work is a part of it. Alot of TV disconnects, not alot of calls, and alot of no's for service upgrades. 

Link to comment
Share on other sites

4 hours ago, Commissar SFLUFAN said:

Also, don't read this article with Peter Schiff if you value your sanity and the ability to sleep at night:

 

GettyImages-57636937-scaled-e16526394658
PUCK.NEWS

Peter Schiff, a notable “Gloom and Doomer,” accurately predicted the 2008 recession. Want to know what he thinks is headed our way this time around?

 

Note: Schiff is a notorious libertarian "gold bug" that I personally can't stand but that doesn't make him entirely wrong :p

 

 

A more reliable indicator, perhaps.

 

 

 

 

 

  • Haha 1
Link to comment
Share on other sites

I really need to figure out what to do with my truck. Lease is up in December. I should look into refinancing the balance. I wanted to get a used Honda or something but damn the prices of anything I looked around at are nuts. Barely lower than the new prices. I don’t need a truck but I’m not getting a 6 year loan on a $30000 2019 Accord either.

Link to comment
Share on other sites

5 minutes ago, CitizenVectron said:

What does that mean?


The Covid slush funds have dried up and this senate isn’t passing any new spending beyond the stuff to keep things going, and wars of course.

Link to comment
Share on other sites

Counter cyclical spending and then cutting back once the economy is back on track (and it is…or was) is good and fundamentally Keynesian, but having a non responsive legislature means that out of necessity the fed overreacts and instead of gradual withdrawal but we’re going cold turkey on fiscal support

  • True 1
Link to comment
Share on other sites

There is infrastructure spending that will be multi year for fiscal support.

 

The Fed pretty much has to be aggressive at this point. The risk inflation poses on everyone is too high. They should have raised a lot sooner and they probably would not have to be as aggressive and we could have had a soft landing. I think a mild recession is more likely than a soft landing at this point.

Link to comment
Share on other sites

  • 2 weeks later...

Oh yeah - it's gonna be a 75 basis points increase.  

 

107070058-1654120158813-riv.jpg?v=165412
WWW.CNBC.COM

Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of Labor Statistics reported.

 

Quote

 

Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of Labor Statistics reported Tuesday.

 

The producer price index, a measure of the prices paid to producers of goods and services, rose 0.8% for the month and 10.8% over the past year. The monthly rise was in line with Dow Jones estimates and a doubling of the 0.4% pace in April.

 

Excluding food, energy and trade, so-called core PPI rose 0.5% on the month, slightly below the 0.6% estimate but an increase from the 0.4% reading in the previous month. On a year-over-year basis, the core measure was up 6.8%, matching April’s gain.

 

The two PPI measures remained near their historic highs — 11.5% for headline, and 7.1% for core, both hit in March.

 

The data is significant in that prices at the wholesale level feed through to consumer prices, which are running at their highest levels since December 1981. The consumer price index increased 8.6% annually in May, defying hopes that inflation had peaked in the spring.

 

 

Link to comment
Share on other sites

It's sad people could have been more prepared for this, but they were told in Q2 2021 that inflation wasn't a thing (pretty much everyday); but anyone that has vision of raw material prices was telling (could tell) you that it was going to be significant and last a couple years before the crash. 

 

Another one of those periods in life that you can make significant money if you pay attention and rotate properly. FYI the interest rate on I bonds is 9.62% through October 2022; throw in your $10k for the year if you haven't already. 

  • Halal 1
Link to comment
Share on other sites

9 hours ago, Commodore D said:

It's sad people could have been more prepared for this, but they were told in Q2 2021 that inflation wasn't a thing (pretty much everyday); but anyone that has vision of raw material prices was telling (could tell) you that it was going to be significant and last a couple years before the crash. 

 

Another one of those periods in life that you can make significant money if you pay attention and rotate properly. FYI the interest rate on I bonds is 9.62% through October 2022; throw in your $10k for the year if you haven't already. 

 

It's mostly because of energy prices (read: Vladimir Putin).

Link to comment
Share on other sites

1 minute ago, Ricofoley said:

This is wild. A Texas plant that exports natural gas to Europe is shut down, so it spiked natural gas prices in Europe but also lowered US prices at the same time, since it means that less US natural gas will leave the country.

 

 

When I first saw that story earlier today, I was utterly puzzled why the headline essentially said "Natural gas price drops as Texas terminal announces delayed opening".

Link to comment
Share on other sites

That's seriously been so depressing. Our plan last year was to buy around this time right now, maybe towards end of the year. Despite growing salaries between my wife and I, we haven't been able to keep up with housing prices and now the rising rates pushing that even further. Who knows what the next few years will be like. And my wife would rather stay in California, so even higher prices, tougher outlook. :/

Link to comment
Share on other sites

Building a house, and put money down in December for it. Locked in my interest rate the other week at 5.0%. Kind of sad that I'm actually thankful for that because now it's over 6.0%, but do wish I could have locked in in December lol. We close end of July.

 

Luckily still got a 2nd buyer for existing house this week, as I was worried after the first buyer fell through if that was a sign that the interst rate increases would make it harder to get a buyer.

 

It's crazy what's happening, but if you can get approval, I'd say buy the house. Sounds weird to say, but even with the high costs, still likely better to start building equity than to not. It likely won't be better financially later. Refinance in a couple of years to likely get lower rate or take some equity out to help recover from stretching when you bought, or both. Either interest rates will go down again, or if they don't, you're probably then happy to get 5-6% and not 9%. House prices won't come down significantly any time soon. The growth might slow down, and even if there is a crash, it'll pop back up after a couple of years.

 

Today, a starter home isn't actually a single family home, it's a townhome.

  • Halal 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...