2021 - Is inflation finally back in the conversation?

[Bozo_Casanova 25822]

6 hours ago, troph said:

where did I say print money?

You didn’t! I’m genuinely sympathetic to my friends in real estate, because they were printing money for a long time and this has been an adjustment. That sucks!
 

6 hours ago, troph said:

I think a longer term rate differential (conventional 30 year fixed) between 2.75% and 7% is too much for the real estate market.

 I know it’s a big difference and that’s not fun, but the party is over. You may be right about needing more mobility, but if it comes down to choosing that or controlling inflation, my guess is the fed chooses to manage inflation down. 

Edited August 15 by Bozo_Casanova

[Incredulity 11160]

Well its been 50 or so years so we might as well try it again.  fucking clownworld

[52-80 18982]

18 minutes ago, Margin call said:

 

Sounds like proposing price controls?

Harris is specifically targeting meat processors.

The largest processor in America (and 2nd in the world), Tyson, earned 6% in 2022 and actually lost money (-1%) last year.

Sysco sits at 1-2% every year.

JBS is Brazilian and Cargill is private and do not have mandatory reporting.

The major grocery chains themselves do a few percentage of net income every year, as @Incredulity noted before.

Researchers at the SF Fed conclude that "rising markups have not been a main driver of the recent surge and subsequent decline in inflation during the current recovery."

......

but I think we should ask our resident communists just to be sure

 

[Parliament 13997]

39 minutes ago, Margin call said:

 

Sounds like proposing price controls?

Bad when companies use "inflation" as an excuse to raise prices (more) and rev the profits.  But regulating prices and/or profits has often simply led to shortages.  And when we're talking about food, the stakes go up.

[Incredulity 11160]

13 minutes ago, Parliament said:

But regulating prices and/or profits has often simply led to shortages

not "often" 

Its an absolute certainty.

[52-80 18982]

Any time people propose or support such an idea, it would be really nice if they first define what exactly they mean by "gouging" -- precisely what level of profitability is too much. 

Anything more substantive than "it feels bad and im confused so theyre evil".  It would save tons of immamac's bandwidth.

Edited August 15 by 52-80

[UTPhil2006 3767]

Yeah you think hurricane shortages and whatnot are bad, watch what happens with that 

[Armybrat 40527]

Nixon’s Executive Order #11616  in 1970 at first was a political success, but led to recession & stagflation.

 

[Captainant 26902]

1 hour ago, 52-80 said:

The largest processor in America (and 2nd in the world), Tyson, earned 6% in 2022 and actually lost money (-1%) last year.

 

Man you'd think even with using child labor they'd be able to eke out better than losing money

[jimmyjazz 45162]

1 hour ago, 52-80 said:

but I think we should ask our resident communists just to be sure

You wouldn't be one of those snowflakes afraid of the CR but who often brings politics into other forums, which is quite literally against board rules yet constantly overlooked by management, would you?

Why yes, yes you would.  Kiss my communist ass.

[Incredulity 11160]

10 minutes ago, jimmyjazz said:

Kiss my communist ass.

[52-80 18982]

17 minutes ago, jimmyjazz said:

You wouldn't be one of those snowflakes afraid of the CR but who often brings politics into other forums, which is quite literally against board rules yet constantly overlooked by management, would you?

Why yes, yes you would.  Kiss my communist ass.

It appears the dogs heard their whistle. 

[jimmyjazz 45162]

1 minute ago, 52-80 said:

It appears the dogs heard their whistle. 

It appears the fascists have their notes out.

[Vegas64 640]

[UTPhil2006 3767]

Can we just move this to Cloak @immamac it’s gonna just keep being like this with the same cast of characters on both sides 

[immamac 41616]

Shut the fuck up about all the god damned whining. 

Policy has a direct impact on this. Discuss the policy not the admin or the politician who signed it/claimed anything. 

This isn't fucking hard. 

[52-80 18982]

3 hours ago, Armybrat said:

Nixon’s Executive Order #11616  in 1970 at first was a political success, but led to recession & stagflation.

 

It also sent all the Jedi into hiding and resulted in the the ascension of Dark Sidious as Emperor of the Galaxy

[52-80 18982]

Karen's appeal to management got denied 🥴

[Trey3216 15308]

19 minutes ago, 52-80 said:

It also sent all the Jedi into hiding and resulted in the the ascension of Dark Sidious as Emperor of the Galaxy

[jimmyjazz 45162]

37 minutes ago, 52-80 said:

Karen's appeal to management got denied 🥴

I'm sorry @immamac posterized you.

[52-80 18982]

7 minutes ago, jimmyjazz said:

I'm sorry @immamac posterized you.

Shut the fuck up about all the god damned whining. 

[jimmyjazz 45162]

Just now, 52-80 said:

Shut the fuck up about all the god damned whining. 

Quoting an incoherent post for emphasis?  Good, good.

[troph 23995]

On 8/14/2024 at 8:02 PM, Bozo_Casanova said:

You didn’t! I’m genuinely sympathetic to my friends in real estate, because they were printing money for a long time and this has been an adjustment. That sucks!
 

 I know it’s a big difference and that’s not fun, but the party is over. You may be right about needing more mobility, but if it comes down to choosing that or controlling inflation, my guess is the fed chooses to manage inflation down. 

We are fine, and we will adapt to any environment. I’m talking generally. I agree controlling inflation, I’ve said it’s way more insidious than a recession. I’m not saying what should happen (I did say we should not be here in 2 years), I’m saying what I think will happen and the risks they will go too far so when a recession occurs they have to go even farther. I actually worry like you they will take it too far and not leave enough room. I also think zero rate policies are insane. So I’m not really sure what you’re arguing. 

[Parliament 13997]

13 hours ago, Margin call said:

Evidently meant to help address rising cost of living. Should end up boosting prices obviously. 

I’m sure Blackrock will be glad to let you add that $25k to your down payment and sell you the apartment you’re living in.

[ChickenSandwich 9760]

Should use that $25k to pay down loan rates instead. Give qualified 1st time buyers 3% fixed loans with 3-5% down. 

[babysdaddy 2708]

1 hour ago, ChickenSandwich said:

Should use that $25k to pay down loan rates instead. Give qualified 1st time buyers 3% fixed loans with 3-5% down. 

yep.  People aren't' buying homes due to interest rates, not because of the lack of down payment.  They literally can't afford or qualify for a mortgage due to debt to income limitations.  This policy is inflationary...which will cause higher interest rates, which will make buying a home less affordable than it is currently.  

[The Royal We 3051]

As someone who owns a few rent houses I can safely say the requirement that rent has been paid on time every month for 2 years is going to remove a large chunk of otherwise qualifying applicants from the pool.

[aggie08 20344]

49 minutes ago, The Royal We said:

As someone who owns a few rent houses I can safely say the requirement that rent has been paid on time every month for 2 years is going to remove a large chunk of otherwise qualifying applicants from the pool.

Excuse my ignorance, but how is that tracked?

[The Royal We 3051]

13 minutes ago, aggie08 said:

Excuse my ignorance, but how is that tracked?

I wondered the same thing. Maybe they have to provide contact information for their landlords for the the last 24 months and they have to sign off that the rent was paid on time?

I just know that 90% of my tenants are late more than they are on time. On time being before the 10th every month.

[babysdaddy 2708]

On the other hand.....this amounts to $25 billion (I read 1,000,000 potential buyers at 25k) which is, relative to housing stock and housing overall asset values and annual deficient spending, effectively a drop in the bucket.  Combined with 3mm new housing units being proposed overall effect may have no impact.

[Captainant 26902]

Man, GRUhorn where are you getting "price controls" from? That hasn't been mentioned anywhere in anyone's policy statements (as far as I'm aware). 

[LCHorn 2529]

18 hours ago, Margin call said:

Evidently meant to help address rising cost of living. Should end up boosting prices obviously. 

I wish they’d take that same money and dangle incentives through HUD for the removal of local barriers to density (building codes and zoning).  If it’s anti-regulatory it should get bipartisan support, too. 

[hornmpa96 2538]

3 hours ago, The Royal We said:

I wondered the same thing. Maybe they have to provide contact information for their landlords for the the last 24 months and they have to sign off that the rent was paid on time?

I just know that 90% of my tenants are late more than they are on time. On time being before the 10th every month.

I’m guessing if the late payment isn’t reported to a credit agency then they will qualify.

[jimmyjazz 45162]

3 hours ago, Margin call said:

What is the goal of banning “price gouging”?

It's nuanced, but work with me here.  The goal of banning price gouging is to ban . . . price gouging.

[jimmyjazz 45162]

Just now, Margin call said:

The goal is to put a cap on prices. Control them, if you will. 

Well, it isn't, but please keep posting the (ironic) party line shared by Russia and the American far right.

[Captainant 26902]

27 minutes ago, Margin call said:

From a leftie here. 

Please don't bring Russia nonsense into this. 

Nobody is saying price controls except for you. And besides, aren't you persona non grata on surly after your antics pumping russian propaganda in the Ukraine war thread?

[UT_OB1 2197]

6 hours ago, babysdaddy said:

On the other hand.....this amounts to $25 billion (I read 1,000,000 potential buyers at 25k) which is, relative to housing stock and housing overall asset values and annual deficient spending, effectively a drop in the bucket.  Combined with 3mm new housing units being proposed overall effect may have no impact.

Yeah I’m hopeful.  I’ve got no problem trickling down some breaks to first home buyers. I think the proposal to increase home starts is probably/hopefully the bigger deal. 

[Incredulity 11160]

10 hours ago, The Royal We said:

I just know that 90% of my tenants are late more than they are on time. On time being before the 10th every month

Strong user avatar/post correlation 

[Incredulity 11160]

Obviously the anti-gouging proposal is bereft of any details.  The only way I can imagine a government agency even attempting to regulate that would be some sort of maximum net margin.  I would be very interested in anyone who has other ideas about how the government could regulate “gouging”

[52-80 18982]

19 hours ago, Incredulity said:

Obviously the anti-gouging proposal is bereft of any details. 

Obviously, there’s no details because:

(1) its fucking nonsense

(2) its only purpose was to rally their trained seals into clapping (atleast 1 did)

(3) they proposing party has no website or interviews with which to explain the details

we’ll just have to leave it to the fascist wapo and cnn to discredit

 

Edited August 17 by 52-80

[fattyflattie 4633]

15 hours ago, 52-80 said:

Obviously, there’s no details because:

(1) its fucking nonsense

(2) its only purpose was to rally their trained seals into clapping (atleast 1 did)

(3) they proposing party has no website or interviews with which to explain the details

we’ll just have to leave it to the fascist wapo and cnn to discredit

 

All I ask is they build these 3M affordable houses near capttifa and as far from me as fucking possible thxkbai.  Hell put them over near the non-gouging grocery chains and we’ll just hang out over with the easily affordable HEBs 

[Captainant 26902]

Lol such substantive policy discussion that's totally apolitical amirite. Why is the business board losing readers again?

[Hefeweizen 5221]

Cereal bidness only here.

[Hamttx 414]

I’m a retired guy who lives on a fixed income. Arguing about the politics really doesn’t help me. I can control my expenses on items that are want not need, but food and fuel is difficult. 
I struggle to understand how people are buying a couple of $75,000 vehicles, a home, raising children, and still have money for estate planning? Either they have well paying jobs, or they are in some serious debt. Especially since I spend a lot of my time looking for value, as I’m sure many of you are as well. To be honest I’m worried about my future. 

Edited August 19 by Hamttx
Oops

[Hefeweizen 5221]

19 minutes ago, Hamttx said:

I’m a retired guy who lives on a fixed income. Arguing about the politics really doesn’t help me. I can control my expenses on items that are want not need, but food and fuel is difficult. 
I struggle to understand how people are buying a couple of $75,000 vehicles, a home, raising children, and still have money for estate planning? Either they have well paying jobs, or they are in some serious debt. Especially since I spend a lot of my time looking for value, as I’m sure many of you are as well. To be honest I’m worried about my future. 

I’m in a similar position, to some extent.  I have a very large nest egg and earn a good living and I am worried about the current level of expenses.  Cars are unreasonably expensive so I’m maintaining my current ones, but that’s expensive too.  Food is expensive.  Travel is expensive.  College for kids is fucking absurd.  So I’m worried even though if someone looked at my position with detached emotion I am probably way too pessimistic.  As a result, I keep putting off retirement, even though I am so fucking done I can’t stand it.

[Hamttx 414]

6 minutes ago, Hefeweizen said:

I’m in a similar position, to some extent.  I have a very large nest egg and earn a good living and I am worried about the current level of expenses.  Cars are unreasonably expensive so I’m maintaining my current ones, but that’s expensive too.  Food is expensive.  Travel is expensive.  College for kids is fucking absurd.  So I’m worried even though if someone looked at my position with detached emotion I am probably way too pessimistic.  As a result, I keep putting off retirement, even though I am so fucking done I can’t stand it.

I’m the same on maintaining our current vehicles. In fact the wife drives a 10 year old Honda that she loves. It is well maintained but had a paint issue. We were going to trade and looked around. In the end we simply refused to pay the numbers the dealerships in our area were asking. She instead elected to repaint it at a discount auto paint shop we have in town. That set us back $2k, but they shot the same pearl paint and clear coat the factory uses. We just hope they did a better job than the factory did. 
But, it is paid for.
The same with my truck. It is 7 years old, but again well maintained. I’ll drive the wheels off of that bitch before I drop $75k on a new one.

I can relate to your nest egg as well. I was able to retire at 55. Which at the time I had myself in good shape. House paid for, as well as the land it sits on. However as time has moved on the buying power of my nest egg has been reduced. I’m not smart enough to to know the exact reduction of buying power. I just know that when it costs us $40 or more to eat at a chain steak house, we don’t go as often.

[Anastasis 23206]

17 minutes ago, Hefeweizen said:

I’m in a similar position, to some extent.  I have a very large nest egg and earn a good living and I am worried about the current level of expenses.  Cars are unreasonably expensive so I’m maintaining my current ones, but that’s expensive too.  Food is expensive.  Travel is expensive.  College for kids is fucking absurd.  So I’m worried even though if someone looked at my position with detached emotion I am probably way too pessimistic.  As a result, I keep putting off retirement, even though I am so fucking done I can’t stand it.

It's a fucking beating right now. My monthly nut to keep the ship afloat with three kids is crazy. 

[Hamttx 414]

2 minutes ago, Anastasis said:

It's a fucking beating right now. My monthly nut to keep the ship afloat with three kids is crazy. 

Child rearing is expensive business. 

[Hamttx 414]

2 minutes ago, Margin call said:

Yeah, kids club sports/cheer are definitely outpacing CPI

We have these crazy youth traveling baseball teams in my area that charge some outrageous fees to participate. Yet every team has enough players, and travel most weekends. As I coached little league for 25 years I am bewildered parents are willing to pay such a lofty sum when their child could experience the same sport in LL and the school system. Take my word for it….most kids who play ball as a kid won’t do it for a living. 

[Anastasis 23206]

7 minutes ago, Margin call said:

Yeah, kids club sports/cheer are definitely outpacing CPI

I mean those expenses are ridiculous, but I categorize those as discretionary. I am talking basics like food, mortgage, utilities, life insurance, medical/home/auto insurance etc. Shit I am on the verge of running a fleet vehicle situation with teenagers on the policy. Fuck me.