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Inflation.......... ?

#2,901
Spending at the consumer level split fairly evenly between goods and services, with the two measures up 4.8% and 3.6% respectively.
Consumers are paying more and getting less and the Government thinks it's wonderful... :mad:

www.cnbc.com

U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

GDP was expected to increase at a 4.7% annualized pace in the third quarter, according to a Dow Jones consensus estimate.
www.cnbc.com www.cnbc.com
 
#2,903
Malum Prohibitum said:
That's not what it means at all. The median wage last year was not enough to buy the median home. They just said what the median wage was last year, not that it was sufficient to purchase the median home.
Click to expand...
The bottom line result is the same. Regardless of how a person arrives there.
When the Government says a young married couple, both gainfully employed, can go out and buy a house and the mortgage broker will not loan them the money, the result is the same. No house for them.
 
#2,904
Hobo Hilton said:
Staggering numbers for a pay raise. Unfortunately, still way below the rate of inflation. One more "leap frog increase".
Higher inflation creates higher wages.... Higher wages creates higher inflation...... A cycle that can not be maintained by raising the National Debt.
Unfortunate for the American people.

Oct 25 (Reuters) - The United Auto Workers (UAW) union reached a tentative labor deal on Wednesday with Ford Motor (F.N), the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September.
The proposed accord, which UAW's leadership must still approve, provides a 25% wage hike over the 4-1/2-year contract, starting with an initial increase of 11%.
The Ford deal, which could help create a template for settlements of parallel UAW strikes against General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), would amount to total pay hikes of more than 33% when compounding and cost-of-living mechanisms are factored in, the UAW said.
"We told Ford to pony up and they did," Fain said in a video post on Facebook, adding that the strike at Ford "has delivered".
In addition to the general wage hike, Fain said the lowest-paid temporary workers would see raises of more than 150% over the contract term and employees would reach top pay after three years. The union also won the right to strike over future plant closures, he said.
The UAW also succeeded in eliminating lower-pay tiers for workers in certain parts operations at Ford - an issue Fain highlighted from the start of the bargaining process, wearing T-shirts with the slogan "End Tiers."
The Ford contract would reverse concessions the union agreed to in a series of contracts since 2007, when GM and the former Chrysler were skidding toward bankruptcy, and Ford was mortgaging assets to stay afloat.
"We know it breaks records," Fain said in a video address Wednesday night. "We know it will change lives. But what happens next is up to you all."

www.reuters.com

Ford, UAW reach tentative deal to end strike including record pay raise

The United Auto Workers union reached a tentative labor deal with Ford, the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers.
www.reuters.com www.reuters.com
Click to expand...
Automation and AI = dramatically fewer UAW (and white collars) making that better money
 
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#2,905
Existing-home sales will fall in 2023 to the lowest rate since 2008, National Association of Realtors forecasts
The numbers: U.S. pending home sales rebounded in September, but remain near a record low as high mortgage rates and low inventory continue to hurt the real-estate sector.

Pending-home sales stay near record low despite modest pickup in September

www.morningstar.com www.morningstar.com
 
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#2,906
In order to tame inflation, the interest rate must be raised above the inflation rate.
Today, the interest rate should be 18%. Reward those American's who have a bit of money to put in a bank and actually get some decent interest money in return.
The big banks are making money off the consumer and his / her debt. American's are now slaves.
1698427223828.png


www.cnbc.com

The Federal Reserve may not hike interest rates next week, but consumers are unlikely to feel any relief

The Federal Reserve is expected to announce no rate hike at the end of its two-day meeting next week. Here's what that means for your wallet.
www.cnbc.com www.cnbc.com
 
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#2,909
IronSkillet said:
With no end in sight for inflation we have decided to sell some stocks and drain off the savings too build a small storage workshop. Not sure if this is one of my smart ideas, but feel we will still having something if the dollar collapse happens.
Looking @ a Red Iron building 36’x38’ with 12’ sidewall.
Click to expand...
Wise move. Many reasons.
In my case, having a shop allows me to maintain my equipment and store much of it under cover during the winter.
In a worst case scenario, it could house a relative or care giver who falls on hard times.
 
#2,910
It's turning into a "Numbers Game" with the information the FED's continue to put out.
One example, from the article linked below:

A broader measure of home prices, the national index, rose on a month-over-month basis in August by 0.9%, but rose 2.6% over the past year. All numbers are seasonally adjusted..

One game the FED's play is showing something in percentages. The other game is showing it in USD's.
It's not a big deal for a can of $2.00 beans to go up in cost 2.6%. That is only raises the cost to $2.06.
When a $400k house goes up 2.6% that is a whopping $10,400 more.
Those COLA numbers the Government spews out focus on groceries and not house notes and rents.
It's not the little things that are squeezing American's, it's the big ticket items we must all pay for. By "big ticket" I don't mean luxury items, just every day goods and services.

U.S. home prices rose for the sixth month in a row, Case-Shiller says

www.morningstar.com www.morningstar.com
 
#2,911
1698864935923.png

The only thing Jerome Powell is doing is "Stoking The Fire"..... In this case, the fire is inflation. Painted himself in a corner.
To the average American this is similar to renting a house from a land lord who is one step from bankruptcy. Start planning your next move.
____________

Powell Not Satisfied With Inflation Progress “Inflation has moderated since the middle of last year and readings over the summer were quite favorable. But a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal,” Powell said.5 mins ago

Fed Meeting Today: FOMC Decides to Skip Interest-Rate Hike; Officials Keep Door Open to More Increases; Watch Jerome Powell’s Press Conference Live

News from the November Fed meeting, FOMC policy statement, and interest-rate decision, as well as Chairman Jerome Powell's press conference.
www.barrons.com www.barrons.com
 
#2,912
Hobo Hilton said:
Inflation at 14%....

McDonald’s revenue climbs 14% as price hikes boost U.S. sales​


www.cnbc.com

McDonald’s revenue climbs 14% as price hikes boost U.S. sales

McDonald's third-quarter earnings and revenue beat Wall Street's estimates.
www.cnbc.com www.cnbc.com
Click to expand...
McDonald’s U.S. traffic fell, marking the first quarter this year that the metric dipped. Across the restaurant industry, consumers making less than $45,000 visited less often, accounting for the drop in McDonald’s traffic, according to CEO Chris Kempczinski.
 
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#2,913
Just notified of price increase from our primary supplier of concrete and not the first one this year. This is the largest supplier in our market and our company their biggest customer. Bidenomics at work and saw this same trend just before the crash in '07. $155/CY for 3000 plus $40 per load for fuel surcharge and environmental charges
 
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#2,914
When it comes to inflation, “we aren’t there yet, but we’re headed in the right direction,” Barkin said. But he added he’s hearing that businesses are still willing to probe around to see if they can raise prices but are past the peak of being able to lift what they charge for their goods and services.
____________________________
Reminds me of being on a long road trip with children. One always asks "When are we going to get there"?... another "Why are we going the long route" ?.... another " I thirsty / hungry / need to pee, can we stop now "?..... As we pass the sign "Next Services 100 miles".... LOL

www.reuters.com

Fed's Barkin: Fed has time to see data before making next rate move call

Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that the U.S. central bank still has time to decide on its next interest rate move as anecdotal information points to an economy that’s slowing amid a cooling trend in inflation pressures.
www.reuters.com www.reuters.com
 
#2,916
Hobo Hilton said:
It's turning into a "Numbers Game" with the information the FED's continue to put out.
One example, from the article linked below:

A broader measure of home prices, the national index, rose on a month-over-month basis in August by 0.9%, but rose 2.6% over the past year. All numbers are seasonally adjusted..

One game the FED's play is showing something in percentages. The other game is showing it in USD's.
It's not a big deal for a can of $2.00 beans to go up in cost 2.6%. That is only raises the cost to $2.06.
When a $400k house goes up 2.6% that is a whopping $10,400 more.
Those COLA numbers the Government spews out focus on groceries and not house notes and rents.
It's not the little things that are squeezing American's, it's the big ticket items we must all pay for. By "big ticket" I don't mean luxury items, just every day goods and services.

U.S. home prices rose for the sixth month in a row, Case-Shiller says

www.morningstar.com www.morningstar.com
Click to expand...
Gotta disagree there.

Yes, inflation has hit everything, but the vast majority aren't looking to buy a house. Everyone is buying gas, food, meds, utilities, etc...
 
#2,917
mi650 said:
Gotta disagree there.

Yes, inflation has hit everything, but the vast majority aren't looking to buy a house. Everyone is buying gas, food, meds, utilities, etc...
Click to expand...
OK........ Factor in that every human being in America must have "a roof over their head".
Those not shopping for a house are paying rent or living in Mom's basement.
So, that vast majority you speak of are paying, one way or another, for a roof over their head.
Pre-pandemic those people could have bought a house and be paying less for a house note than they are paying for rent today.

As of June 30, the average monthly rent nationally for a SFR property stood at $2,495, up 13.4% year over year, according to HouseCanary's report
1699126996225.png

www.rent.com

February 2025 Average Rent Report: Rents Rise as Construction Slows

The rental market ticked up in February, with asking rents rising 0.4% year over year. Learn more in our monthly average rent report.
www.rent.com www.rent.com
 
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#2,919
Something for you young guys to ponder. During the time shown in this clipping I was in my mid 20's, married, 2 children, working full time, two vehicles (both paid for), just bought 6 acres of land and had a contractor building me a 2,000 sq ft house. Wife was a stay at home Mom raising my children. Life for the middle class was much better then than now.

1699129113935.png


 
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#2,922
Hobo Hilton said:
OK........ Factor in that every human being in America must have "a roof over their head".
Those not shopping for a house are paying rent or living in Mom's basement.
So, that vast majority you speak of are paying, one way or another, for a roof over their head.
Pre-pandemic those people could have bought a house and be paying less for a house note than they are paying for rent today.

As of June 30, the average monthly rent nationally for a SFR property stood at $2,495, up 13.4% year over year, according to HouseCanary's report
View attachment 8264290
www.rent.com

February 2025 Average Rent Report: Rents Rise as Construction Slows

The rental market ticked up in February, with asking rents rising 0.4% year over year. Learn more in our monthly average rent report.
www.rent.com www.rent.com
Click to expand...
And those who already have houses? Today's rates don't affect people who bought 5-10-15 years ago, but inflation in every other area does.
 
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#2,923
mi650 said:
And those who already have houses? Today's rates don't affect people who bought 5-10-15 years ago, but inflation in every other area does.
Click to expand...
Those who have been apartment dwellers for the past 15 years are coming out on the short end of this stick. Even if a land lord is bound by 'rent control" he will sell that property and it will be turned into condo's with a HOA.
In the mean time the "Government" (local, state, Federal) is housing all of the 1 million illegals and taking those dwellings off the market and you and I are paying for the fiasco.
 
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#2,925
Worldwide

finance.yahoo.com

RBA’s Bullock Set for First Rate Hike as Inflation Lingers

(Bloomberg) -- Australia’s central bank is forecast to raise interest rates on Tuesday, ending a four-meeting pause as persistent inflation and broader economic resilience suggest a further clampdown is needed to cool prices.Most Read from BloombergAmazon’s Jeff Bezos Announces Move to Miami...
finance.yahoo.com finance.yahoo.com
 
#2,927
I’m seeing big ticket items start to back up on lots and in stores.

Starting to see a lot of listings not selling across many forums. Guns, knives, machinery, watches, etc.

Guess nobody wants to buy a Kubota at 8%? Nobody wants to finance a Rolex through PayPal at 21%?

I’m sitting on so much cash right now just waiting to scoop up some quality goods.

I figure about 8 more months of solid consumer spending before it finally cracks. People will max out cards to pay for krimuss, then they’ll be baller status during tax refund season, and will probably start liquidating July-November of next year.
 
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#2,928
Bigfatcock said:
I’m seeing big ticket items start to back up on lots and in stores.

Starting to see a lot of listings not selling across many forums. Guns, knives, machinery, watches, etc.

Guess nobody wants to buy a Kubota at 8%? Nobody wants to finance a Rolex through PayPal at 21%?

I’m sitting on so much cash right now just waiting to scoop up some quality goods.

I figure about 8 more months of solid consumer spending before it finally cracks. People will max out cards to pay for krimuss, then they’ll be baller status during tax refund season, and will probably start liquidating July-November of next year.
Click to expand...
I'm seeing inventory building up at the RV sales yards, the 4 wheeler shops and the consignment rack at my LGS.
Building up at my local Albertsons grocery store, also. All the $3.99 hamburger buns were sold out.

IMG_0925.JPG
 
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#2,929
Hobo Hilton said:
I'm seeing inventory building up at the RV sales yards, the 4 wheeler shops and the consignment rack at my LGS.
Building up at my local Albertsons grocery store, also. All the $3.99 hamburger buns were sold out.

View attachment 8265821
Click to expand...
My pantry is stocked based off of sales. Has been since my early 20’s. Only an idiot would by $6.49 buns.
 
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#2,931
Bigfatcock said:
I’m seeing big ticket items start to back up on lots and in stores.

Starting to see a lot of listings not selling across many forums. Guns, knives, machinery, watches, etc.

Guess nobody wants to buy a Kubota at 8%? Nobody wants to finance a Rolex through PayPal at 21%?

I’m sitting on so much cash right now just waiting to scoop up some quality goods.

I figure about 8 more months of solid consumer spending before it finally cracks. People will max out cards to pay for krimuss, then they’ll be baller status during tax refund season, and will probably start liquidating July-November of next year.
Click to expand...
Again, just like 2008. Second homes, RVs, boats, ATVs, jeeps, side by sides will go first - then the guns and so forth.
 
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#2,933
Powell's colleagues are leaving the building...
You Plebeians just keep on running up the balance on your charge cards.
_______________
Powell said that inflation is “well above” where the Fed would like to see it.
“My colleagues and I are gratified by this progress but expect that the process of getting inflation sustainably down to 2 percent has a long way to go,” he said.


www.cnbc.com

Powell says Fed is 'not confident' it has done enough to bring inflation down

Powell said in remarks for an International Monetary Fund audience that more work could be ahead in the battle against high prices.
www.cnbc.com www.cnbc.com
 
#2,934
Jerome Powell, too little, to late. Politicized

“We are not confident,” Powell said, that the Fed's benchmark rate is high enough to steadily reduce inflation to 2%. He added: “We know that ongoing progress toward our 2% goal is not assured. Inflation has given us a few head fakes.”
apnews.com

Business Highlights: The Fed’s cautious approach; Biden says workers need ‘a fair shot’

Business Highlights: A summary of the day’s top stories in the business world.
apnews.com apnews.com
 
#2,935
Amazing how a Government project can go from $800 million in April 2022 into a $6 billion project in November 2023.
Must be the neighborhood.
_____________

To attain partial funding for the project, the Airports Authority has applied for a Federal Aviation Administration (FAA) grant under the recently enacted Bipartisan Infrastructure Law, which includes a competitive grant programme to help airports upgrade or replace aging facilities. The application seeks $230 million to begin development of the 400,000-square-foot facility, which is expected to ultimately cost between $500 million and $800 million. The Airports Authority is working with United Airlines, the largest carrier serving Dulles, and other airlines in planning the design, funding and construction of the new concourse.
__________________
The $6 billion will encompass the buildout of C/D gates, the current A gates that are the regional gates that will become contact gates for international flights, [and] the E gates."


www.internationalairportreview.com

Washington Dulles International Airport proposes new 14-gate concourse

Dulles Airport welcomes 14-gate concourse, to replace outdoor boarding areas, expand passenger amenities, and job opportunities.
www.internationalairportreview.com www.internationalairportreview.com
aeroxplorer.com

Dulles Airport Eyes $6 Billion in New Concourses Led by United Growth

Metropolitan Washington Airports Authority (MWAA) CEO Jack Potter revealed that it was close to signing an agreement for a $6 billion investment in new concourses, roadway infrastructure, and more. This is all fueled by United Airlines' plans for future growth.
aeroxplorer.com aeroxplorer.com
 
#2,936
Got to love these comments from the FED. The only thing knocking down inflation is "More Inflation"...
That, in itself, has increased the credit card debt of Americans... Robbing Peter to pay Paul.... Unsustainable.
____________
Tighter monetary policy is helping bring down the pace of inflation but not to a level where policymakers should feel too comfortable, San Francisco Federal Reserve President Mary Daly said Friday.
“The news on inflation has been fairly good, and we shouldn’t dismiss that,” the central bank official said during an interview on CNBC’s “The Exchange.” “All of that said, it is far too early to declare victory.”
www.cnbc.com

Fed's Mary Daly says it's ‘too early to declare victory’ on inflation

Tighter policy is helping bring down inflation but not to where policymakers should feel too comfortable, the San Francisco Fed president said.
www.cnbc.com www.cnbc.com
 
#2,937
An interest rate of 5.5% only increases inflation.... That number does not tame inflation.
All part of the plan.
__________

The US central bank has held its key interest rate at its current 22-year high as it seeks to stabilize price rises, which had recently reached near-record levels.
The Federal Reserve's rate target remains at 5.25%-5.5%.
The bank has been raising borrowing costs with the hope of cooling the economy and slowing inflation, the rate at which prices rise.

www.bbc.co.uk

US Federal Reserve holds interest rates at 22-year high

The world's biggest economy keeps borrowing costs higher in a bid to control price rises.
www.bbc.co.uk
 
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#2,938
"The challenge with inflation is it's cumulative. So, if inflation goes up 8% one year, 10% the next year, and the rate of inflation growth slows down to 3%, big deal. But the price of a home is 30% higher than it was in 2020. The price of eggs is almost double what it was in 2020, and prices don't come down," Mitch Roschelle, Madison Ventures Plus managing director, told FOX Business.
www.foxbusiness.com

Inflation may be easing but consumer prices remain high

The latest CPI data is expected to show that prices are continuing to ease but remain higher than they were pre-pandemic and still above the Federal Reserve's 2% target level.
www.foxbusiness.com www.foxbusiness.com
 
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#2,939
Hobo Hilton said:
"The challenge with inflation is it's cumulative. So, if inflation goes up 8% one year, 10% the next year, and the rate of inflation growth slows down to 3%, big deal. But the price of a home is 30% higher than it was in 2020. The price of eggs is almost double what it was in 2020, and prices don't come down," Mitch Roschelle, Madison Ventures Plus managing director, told FOX Business.
www.foxbusiness.com

Inflation may be easing but consumer prices remain high

The latest CPI data is expected to show that prices are continuing to ease but remain higher than they were pre-pandemic and still above the Federal Reserve's 2% target level.
www.foxbusiness.com www.foxbusiness.com
Click to expand...
right here..........
the price of a home is 30% higher than it was in 2020. The price of eggs is almost double what it was in 2020, and prices don't come down,"
...
egg prices tripled in my area
 
#2,940
babyguppy said:
right here..........
the price of a home is 30% higher than it was in 2020. The price of eggs is almost double what it was in 2020, and prices don't come down,"
...
egg prices tripled in my area
Click to expand...
When I was young, working in the Louisiana oil patch, we had a short / quick saying... "Plus, Plus, Plus" that covered many situations.
Today, I apply it to inflation more than anything else.
 
#2,942
WASHINGTON, Nov 14 (Reuters) - The U.S. Postal Service on Tuesday reported a $6.5 billion net loss for the 12 months ending Sept. 30 and said it will not breakeven next year as first-class mail fell to the lowest volume since 1968.
The Postal Service said revenue fell 0.4% to $78.2 billion results. U.S. Postmaster General Louis DeJoy said the loss includes $2.6 billion in inflation costs "above what we projected and what we were able to recover... We are not happy with this result."

www.reuters.com

US Postal Service reports $6.5 billion net loss for 2023 fiscal year

The U.S. Postal Service on Tuesday reported a $6.5 billion net loss for the 12 months ending Sept. 30 and said it will not breakeven next year as first-class mail fell to the lowest volume since 1968.
www.reuters.com www.reuters.com
 
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#2,950
NoDopes said:
Two weeks later... "Why des pepl be locking everyting up en shit, yo man.. dats not rite!'
Click to expand...
70 years ago, in Baton Rouge, the inner city got so bad that the responsible blacks started moving out of the inner city and buying homes in a better part of town. The white folks that sold them their homes moved a little ways out to the first suburbs. The term defining this was "White Flight". That term, at the time, was not seen as racist. As time went on the blacks themselves became better educated and their wages increased. They did not want to live in the inner city any more either. The new descriptive name was "out migration".
What we are witnessing is people (of any skin color) making the choice to surround themselves with people of like mind. TRIBAL
I see it all over America. Little Saigon (Orange County, CA), Compton, China Town in every large city, etc.
There are only a few tribes that support big business, financially. When the negative over rides the positive, they move on.
"It's Just Business".
 
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