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Post by Cornflake on Aug 10, 2022 20:11:02 GMT -5
Inflation is down. Stocks have soared. I could be wrong but I think that almost everyone will view these as good things, particularly those who are retired and living on a fixed income.
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Post by aquaduct on Aug 10, 2022 20:32:57 GMT -5
So instead of inflation being the worst in 41 years, it's now the worst in 40 years. And given all the useless spending in the new Inflation Reduction Act, it'll be back.
That's great news. But at least you're starting to appreciate that it sucks for you as much as working people.
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Post by Village Idiot on Aug 10, 2022 20:59:34 GMT -5
Apparently you are wrong, Cornflake.
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Post by epaul on Aug 10, 2022 21:19:09 GMT -5
It did sound like a little good news for a while there, Don. Oh well. Guess there is no good news. All still going to hell in a handcart, apparently. Rats.
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Post by Cornflake on Aug 10, 2022 21:46:14 GMT -5
"Apparently you are wrong, Cornflake."
As my wife can testify, that's not uncommon.
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Post by t-bob on Aug 10, 2022 21:56:21 GMT -5
The Fed funds rate, which is the rate banks charge each other for overnight loans, hit 20 percent in 1980, and 21 percent in June 1981. The cause was an inflationary spiral brought on by rising oil prices, government overspending and rising wages.
By 1981, inflation had risen to 9.5%. The Federal Reserve combated inflation by increasing the federal funds rate, an overnight benchmark rate that banks charge each other. Continued hikes in the fed funds rate pushed mortgage rates to an all-time high of 18.45% in early 1980s
Mortgage rates are likely to continue to rise in 2022. Many factors influence mortgage rates, including inflation, world events, economic crises, personal factors, the Federal Reserve and even bond prices. Even though mortgage interest rates increase, they will still be lower than historical mortgage rates.
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Post by concertinagirl on Aug 11, 2022 5:26:44 GMT -5
When I read this I IMMEDIATELY went online to check my investments. I stopped doing that a few months ago when my financial planner advised me to “stop torturing” myself. I think he was also tired of me calling him every other day to complain. Anyhow, I am now up a couple of bucks but am NO WHERE NEAR where I was less than two years ago. I guess “soar” is a relative term. I am glad things may be on the upswing. Let’s hope it continues. I have a long way to go to get back to where I was. 40 years of sacrifice and saving seemed to have been flushed down the toilet these past months. I am disgusted. |
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Post by millring on Aug 11, 2022 5:53:17 GMT -5
I guess we're better off facing this with a press that wants to paint an optimistic picture. Since so much of an economy's health depends on pubic trust and faith, we're better off propped up by a press that wants the government to succeed than we are when the press wants the economy to fail in order to change who appears to be in charge of the government. We're just public perception away from collapse.
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Post by jdd2 on Aug 11, 2022 6:24:46 GMT -5
For a good time, read some jeremy grantham...
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Post by jdd2 on Aug 11, 2022 6:37:22 GMT -5
Good News!
joe arpaio lost his 3rd comeback attempt (mayor)
(tho at 90, he should be running for either the senate, or the presidency)
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Post by John B on Aug 11, 2022 7:29:55 GMT -5
I guess we're better off facing this with a press that wants to paint an optimistic picture. Since so much of an economy's health depends on pubic trust and faith, we're better off propped up by a press that wants the government to succeed than we are when the press wants the economy to fail in order to change who appears to be in charge of the government. We're just public perception away from collapse. Or, things are looking up! Go with the flow, John. It just makes life easier. |
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Post by Marshall on Aug 11, 2022 8:10:32 GMT -5
Millring needs some more soma.  |
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Post by aquaduct on Aug 11, 2022 8:14:55 GMT -5
Millring needs some more soma. Or maybe a fancy company car. Or possibly benefits. Or maybe a 40 hour work week..... Sometimes this place can be astonishingly self centered. |
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Post by PaulKay on Aug 11, 2022 8:21:57 GMT -5
Inflation is down. Stocks have soared. I could be wrong but I think that almost everyone will view these as good things, particularly those who are retired and living on a fixed income. It is still too soon to tell if these downward movement in prices is a trend or blip, but I tend to agree with you. The signs that inflation is easing is best seen by looking at the changes in the things that feed it. We know we had supply-side issues and many of those issues are in fact starting to resolve themselves. For example, shipping container costs are down, commodity prices are down, oil is down, gas is down, used car prices are down. Out of that list, 3 of 5 have links to supply-side issues. And the supply-side issues is the ONE thing the Fed rates really don't address. So to have those resolve on their own IS good news. |
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Post by John B on Aug 11, 2022 8:42:07 GMT -5
Millring needs some more soma. Or maybe a fancy company car. Or possibly benefits. Or maybe a 40 hour work week..... Sometimes this place can be astonishingly self centered. Well, as someone who is astonishingly self-centered (among other things), and someone who has more than an online relationship with John, I would hope he would understand the spirit in which I intended my comment. But thanks for your concern that I'm being an asshole. |
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Post by Marshall on Aug 11, 2022 8:52:26 GMT -5
I was joking like you were joking.
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Post by Cornflake on Aug 11, 2022 9:28:20 GMT -5
"It is still too soon to tell if these downward movement in prices is a trend or blip, but I tend to agree with you. The signs that inflation is easing is best seen by looking at the changes in the things that feed it. We know we had supply-side issues and many of those issues are in fact starting to resolve themselves. For example, shipping container costs are down, commodity prices are down, oil is down, gas is down, used car prices are down. Out of that list, 3 of 5 have links to supply-side issues.
"And the supply-side issues is the ONE thing the Fed rates really don't address. So to have those resolve on their own IS good news."
Paul, that accords with what I've been told by people who are savvier than I am. This is why a number of people had concluded that we'd reached the bottom and things were likely to improve.
Although gas prices have dropped, I'm not sure grocery prices will. We'll see.
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