DescentBB

Tunnelcat wrote:We got hit with 14% mortgage interest rates back then when we were buying our first home, which took a large chunk out of both our paychecks and like a lot of people, we blamed Carter for it.

That's the thing. Are you blaming Carter for inflation, or his reaction to it? Would you want Biden to move toward the same austerity policies, and then also get blamed for it, knowing what is waiting in the wings?

Ferno wrote: ↑Wed Jan 26, 2022 8:27 pm
When the lack of supply resolves itself and prices increase further, that will be the evidence you need that the supply/demand theory is completely full of holes.

And it happened a hell of a lot faster than I thought.

Have you noticed any accelerated wear on your tires Krom?

https://solarchargeddriving.com/2018/08 ... tric-cars/

If so, the desert in Dubai is going to get a lot blacker over time. That's not oil in the sand. That's tons of tires, which tend to catch fire in the heat.

Vander wrote: ↑Wed Feb 02, 2022 10:08 am

Tunnelcat wrote:We got hit with 14% mortgage interest rates back then when we were buying our first home, which took a large chunk out of both our paychecks and like a lot of people, we blamed Carter for it.

That's the thing. Are you blaming Carter for inflation, or his reaction to it? Would you want Biden to move toward the same austerity policies, and then also get blamed for it, knowing what is waiting in the wings?

No. It's no more Biden's fault than it was Carter's. But voters tend to vote emotionally when their pocketbook gets thin and they'll usually blame the current president, which will hurt Biden in 2024 if this keeps up.

Tunnelcat wrote: ↑Sat Feb 05, 2022 3:37 pm Have you noticed any accelerated wear on your tires Krom?

https://solarchargeddriving.com/2018/08 ... tric-cars/

Mine is a 4100 lb car that puts out over 520 HP and 700 ft/lb of torque, nobody should be surprised that these destroy tires in relatively short distances.

Vander wrote:Is it inflation when prices go up at a time when profits are also going up?

How much did they go down in 2020?

Google tells me

2020 -5.2%
2019 +2.7%

Yeah, definitely smells like bull★■◆●, recovering 7-8% would have been fine given the prior year losses.

BuT iNfLaTiOn Is AlL bIdEn'S fAuLT!

I own a couple of one type of treasury that I'm finally making a killing on. They're a couple of TIP's or inflation protected treasuries that pay interest adjusted to inflation. Thankfully they both reside in my IRA, because the OID they throw off every month is now astronomical, capital gains that I would've had to pay taxes on every year if they were sitting in any other account. One of those bonds is old and was bought with 3.65% rate, so the OID (technically called "ghost income")and face value have really skyrocketed in the last few months and it doesn't come due until 2029. So I guess there is a silver lining to inflation, even though my husband and I got screwed on several mortgages in the 1980's that both carried over 13% interest rates. It's time for some payback from the government.

Oh, and I heard a new term to describe the screw job these greedy corporate jerks are using to make it "look" like they're keeping prices low. It's called "shrinkflation". They downsize the product, but charge the same price. Most shoppers are stupid and don't notice they're being taken for a ride.

https://www.npr.org/sections/money/2021 ... ous-cousin